Auto stocks on red signal

about 1 year ago
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Auto stocks are all down in the red today with all across the board, including two-wheelers reporting zero or nil sales during April on account of the complete lockdown.

Maruti reported zero sales in the domestic market, (including sales to OEM), in April 2020 as all production facilities were closed in compliance with the government orders. M&M sold some 733 vehicles in the export market while domestic sales were nil.

Tata Motors announced that it will stop reporting monthly wholesale numbers from April and only report quarterly numbers.

TVS Motor also posted zero sales in the domestic market for April although the company was able to export 8,134 two-wheelers and 1,506 three-wheelers, following resumption of operations at Chennai Port.

Bajaj Auto also reported zero domestic sales in April while export of two-wheelers fell 80% and that of commercial vehicles by 81%.

Maruti is currently down almost 7.5%, Bajaj Auto is down 6%, TVS Motor is down 5.5%, Tata Motors is among the top five losers and currently down 10%. Ashok Leyland is down 6%, M&M is down 5%, Hero Motocop is down almost 7.5% and Eicher Motors is down 5%.

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