Auto stocks skid after SIAM data

Shares of eight auto companies fell 0.3% to 1.06% after industry body SIAM unveiled auto sales data for November 2019.

TVS Motor Company (down 1.06%), Hero MotoCorp (down 1.04%), Ashok Leyland (down 1.03%), Maruti Suzuki India (down 0.87%), Escorts (down 0.86%), Mahindra & Mahindra (down 0.71%), Tata Motors (down 0.59%), Bajaj Auto (down 0.3%) declined. Eicher Motors was up 0.1%.

Meanwhile, the S&P BSE index was down 122.64 points or 0.30% to 40,364.79. The S&P BSE Auto index slipped 0.68% to 17,505, underperforming the benchmark Sensex.

As per the Society of Indian Automobile Manufacturers (SIAM) data, domestic passenger vehicle sales fell by 0.84% to 2.63 lakh units in November 2019 from 2.66 lakh units in November 2018.

Domestic car sales were down 10.83% to 1.60 lakh units as against 1.79 lakh units in November 2018.

Motorcycle sales last month declined 14.87% to 8.93 lakh units as against 10.49 lakh units a year earlier.

Total two-wheeler sales in November declined 14.27% to 14.10 lakh units compared to 16.45 lakh units in the year-ago month.

Sales of commercial vehicles were down 14.98% to 61,907 units in November 2019 over November 2018.

Vehicle sales across categories registered a decline of 12.05% to 17.92 lakh units from 20.38 lakh units in November 2018, it added.

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