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Auto stocks surge as passenger vehicle wholesales rise 17% in January 2023

14 Feb 2023 Evaluate

Stocks related to the Auto industry were trading higher on the BSE.

TVS Motor Company is currently trading at Rs. 1078.05, up by 9.20 points or 0.86% from its previous closing of Rs. 1068.85 on the BSE.

Mahindra & Mahindra is currently trading at Rs. 1362.25, up by 9.65 points or 0.71% from its previous closing of Rs. 1352.60 on the BSE.

Ashok Leyland is currently trading at Rs. 149.10, up by 0.25 points or 0.17% from its previous closing of Rs. 148.85 on the BSE.

Society of Indian Automobile Manufacturers' (SIAM's) Director General Rajesh Menon has said that passenger vehicle (PV) wholesales rose 17 per cent to 2,98,093 units in January 2023 driven by robust offtake of utility vehicles, including the fast-growing sports utility vehicles. The overall passenger vehicle dispatch from companies to dealers was 2,54,287 units in January 2022.  In the April-January period of this fiscal, the total passenger vehicle dispatches stood at 31,69,788 units, up 32 per cent from 24,03,125 units in the same period of last fiscal.

Menon said utility vehicle sales rose to 1,49,328 units in January 2023 from 1,16,962 units in January last year. Similarly, passenger car dispatches grew to 1,36,931 units from 1,16,962 units. Wholesales of vans also increased to 11,834 units from 10,632 units in the year-ago period. Total two-wheeler wholesales in January rose 4 per cent to 11,84,379 units from 11,40,888 units in the same month last year. The rate of growth of two-wheelers in the recent year has not kept pace with the growth in the other segments.

He further stated that scooter dispatches grew to 3,76,035 units in January 2023 from 3,61,299 units in January 2022. Motorcycle wholesales were higher at 7,71,621 units as compared with 7,43,804 units in the same month last year. Moped sales rose to 36,723 units from 35,785 units in the year-ago period. Three-wheeler dispatches last month surged over two-fold to 48,903 units from 24,178 units in January 2022. Three-wheeler segment has gained traction compared to the past two years, though they are still to reach the pre-Covid levels.

TVS Motor Share Price

3753.10 9.50 (0.25%)
20-Apr-2026 10:40 View Price Chart
Peers
Company Name CMP
Bajaj Auto 9790.35
Hero MotoCorp 5277.95
TVS Motor 3753.10
Eicher Motors 7181.55
Ather Energy 885.95
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