Eight auto stocks rose by 0.52% to 4.26% at 15:18 IST on BSE after reporting good sales in July 2014.
TVS Motor Company (up 4.26%), Ashok Leyland (up 3.98%), Maruti Suzuki India (up 2.47%), Tata Motors (up 1.67%), Force Motors (up 1.42%), Bajaj Auto (up 0.85%), Mahindra & Mahindra (up 0.54%) and Hero MotoCorp (up 0.52%) edged higher.
The S&P BSE Auto index was up 1.38% at 15,541.12. It outperformed the S&P BSE Sensex, which was up 0.94% at 25,719.91.
The S&P BSE Auto index had underperformed the market over the past one month till 1 August 2014, falling 2.63% compared with 0.14% fall in the Sensex. The index had, however, outperformed the market in past one quarter, rising 14.64% as against Sensex's 13.66% rise.
Tata Motors after market hours on Friday, 1 August 2014 said that its total sales declined 23% to 39,623 units in July 2014 over July 2013. Domestic sales of Tata commercial and passenger vehicles dropped 25% to 35,256 units in July 2014 over July 2013.
Mahindra & Mahindra (M&M) after market hours on Friday, 1 August 2014, reported 6% decline in its total tractor sales to 17,407 units in July 2014 over July 2013. Domestic sales declined 8% to 16,379 units in July 2014 over July 2013. Exports surged 47% to 1,028 units in July 2014 over July 2013. Exports include CKD units.
Separately, M&M on Friday, 1 August 2014, reported 4% drop in its total auto sales at 35,567 units in July 2014 over July 2013. Sales of Passenger Vehicle segment (which includes UVs and Verito) declined 5% to 14,708 units in July 2014 over July 2013. Domestic sales dropped 4% to 33,047 units in July 2014 over July 2013. Sales of four-wheeler commercial segment declined 9% to 12,472 units in July 2014 over July 2013. Three-wheeler sales rose 15% to 5,142 units in July 2014 over July 2013. Exports dropped 3% to 2,520 units in July 2014 over July 2013.
Maruti Suzuki India said during market hours on Friday, 1 August 2014, that the company's total sales jumped 21.7% to 1.01 lakh units in July 2014 over July 2013. Domestic sales rose 19.9% to 90,093 units in July 2014 over July 2013. Exports rose 38.4% to 11,287 units in July 2014 over July 2013.
Bajaj Auto said during market hours today, 4 August 2014 that total sales rose 13% to 3.19 lakh units in July 2014 over July 2013. Commercial vehicles sales rose 49% to 51,451 units in July 2014 over July 2013. Motorcycles sales rose 9% to 2.67 lakh units in July 2014 over July 2013. Exports rose 54% to 1.69 lakh units in July 2014 over July 2013.
Hero MotoCorp said during market hours on Friday, 1 August 2014, that its sales rose 9% to 5.29 lakh units in July 2014 over July 2013.
TVS Motor Company on Saturday, 2 August 2014 recorded 32% growth in total sales to 2.03 lakh units in July 2014 over July 2013.
Gains in auto stocks were triggered ahead of the reserve Bank of India's (RBI) monetary policy review tomorrow, 5 August 2014. Purchases of automobiles, including that of cars, utility vehicles and commercial vehicles are substantially driven by financing.
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