Capital Mind Sparkplug Report on Indian Automobile Industry for November - 2015 Teaser

CAPITALMIND • (C) ALL RIGHTS RESERVED • capitalmind.in Nov'15 The SparkPlug Report 2

Capital Mind Premium: The Sparkplug ReportNovember 2015

A First Look at November's Auto Industry Sales Data

The automotive industry witnessed a mixed reaction to the early festivities.

• Production stood at 1,799,478 units; a decline of -9.76% (YoY) or 194,539 units.

• Domestic Sales touched 1,654,226 units compared to 1,603,312 units during the same month of the previous year. This translated into agrowth of +3.18% (YoY) or 50,914 units.

• Exports had a massive impact with a decline of -17.61% (YoY) the lowest during the current year. 275,639 units were exported inNovember compared to 334,552 units during the same month of the previous year resulting in a decline of 58,913 units.

There is a Diwali effect at play here, since Diwali was in November this year, while it was in October last year. This changes the dynamicsand the only way to figure out how we have done is to add both October + November numbers together.

• Special Note: October + November (Diwali Effect) =

• Production: +2.31% (YoY)

• Domestic Sales: +8.84% (YoY)

• Exports: -11.85% (YoY)

• Effectively, after removing the Diwali Impact, sales are up 8%, but exports are down severely.

New Launches

1) Honda Motorcycles launched the CB Shine SP (Smart Power). The new 125cc commuter bike will replace Honda's existing CB Shine andwill be the 14th product of the 15 Honda bikes to be launched here by 2015.

2) Other manufacturers failed to launch any new vehicles and rather stuck with adding new features to existing models as they all loststeam due to the October new launches.

This is how the companies stack up!(% change YoY)


Company Production Domestic Exports

Ashok Leyland10,124

↑ 24.24%7,979

↑ 24.05%992

↓ -22.14%

Atul Auto3,863

↓ -7.14%3,995

↑ 8.68%10

↓ -92.37%

Bajaj Auto285,618

↓ -11.26%172,358

↑ 20.09%137,249

↓ -17.19%

Fiat India531

↓ -49.72%606

↓ -20.26%0

↓ 0.00%

Force Motors1,579

↓ -10.34%1,418

↑ 3.73%11

↓ -15.38%

Ford India13,998

↓ -9.87%8,773

↑ 54.97%8,416

↑ 18.52%

General Motors1,695

↓ -56.02%2,475

↓ -38.23%3,940

↑ 2526.67%

Hero MotoCorp506,361

↓ -8.67%538,180 ↑ 3.30%

12,551 ↓ -52.48%

Honda Cars16,559

↓ -2.55%14,712

↓ -3.61%120

↓ -86.52%

Honda Motorcycle & Scooter India319,179

↓ -13.75%311,946

↓ -11.82%14,391

↓ -20.17%

Hyundai Motor India49,771

↓ -5.57%43,651

↑ 22.92%14,008

↓ -25.41%

India Yamaha Motor48,880

↓ -22.99%42,718

↓ -4.39%12,643

↓ -13.99%

Mahindra & Mahindra41,317

↑ 8.07%39,383

↑ 22.69%2,207

↑ 0.68%

Mahindra Two Wheelers11,985

↓ -33.50%18,061

↑ 38.38%1,027

↓ -32.74%

Company Production Domestic Exports

Maruti Suzuki India103,495

↓ -11.80%110,599

↑ 10.57%10,225

↑ 1.02%

Nissan Motor India10,322

↓ -18.49%2,617

↑ 28.22%8,538

↓ -18.69%

Piaggio Vehicles16,223

↓ -13.25%14,567

↓ -1.38%2,022

↓ -28.22%

Renault India5,778

↑ 75.68%7,819

↑ 144.27%8

↓ -96.31%

Royal Enfield (Unit of Eicher)40,009

↑ 42.74%40,312

↑ 48.22%457

↑ 32.85%

SML Isuzu1,151

↑ 124.37%660

↑ 27.91%23

↑ 35.29%

Suzuki Motorcycle26,802

↓ -19.71%23,364

↓ -26.35%2,852

↑ 70.17%

TVS Motor Company220,232

↓ -4.29%191,780 ↑ 6.05%

33,621 ↓ -14.26%

Tata Motors35,817

↓ -22.38%35,345

↓ -5.56%3,573

↓ -16.77%

Toyota Kirloskar Motor10,946

↓ -23.93%10,278

↓ -15.58%1,120

↓ -42.89%

VECVs - Eicher3,490

↑ 26.59%2,905

↑ 30.09%629

↑ 15.41%

VECVs - Volvo67

↓ -36.79%105

↓ -11.02%0

↓ 0.00%

Volkswagen India15,354

↓ -15.98%3,884

↓ -49.51%9,416

↓ -17.62%




What FollowsWhat follows is charts of each company's production, domestic sales and exports, compared to last year, for the first eight months of theyear. We have divided this into sections for:

• Two wheelers

• Three wheelers

• Passenger vehicles (Cars, SUVs)

• Commercial vehicles (Trucks, Buses)

We summarize each section as a whole in the beginning and then provide charts for each company.

All data is sourced from SIAM. Charts are by Capital Mind.

Disclaimer: While we have made all efforts to ensure that the data is clean and correct, we cannot vouch for the authenticity of this data andwhether it will reflect accurately in company books, due to the secondary nature which involves company releases to SIAM and then onwardto us. These numbers are not audited. We do not recommend the use of this information for trading or speculation in stocks, and none ofthis is investment advice.

TWO WHEELERS

TWO WHEELERS


1484

187

1598

895

1443

861

1577

334

1541

304

1785

560

1608

220

1561

587

1488

509

1560

164

1486

580

1602

348

1546

310

1730

992

1830

239

1418

592

Apr May Jun Jul Aug Sep Oct Nov0

500000

1000000

1500000

PRODUCTION-2014 -2015

1289

183

1398

376

1262

883

1298

694

1345

506

1553

608

1461

712

1301

434

1287

064

1380

950

1307

710

1300

457

1305

350

1537

137

1656

235

1320

561


500000

1000000

1500000

DOMESTIC SALES-2014 -2015

1949

31

2139

73

1822

32 2225

83

2335

51

2291

18

2149

11

2286

52

1846

61

2118

20

2310

08

2377

08

2511

82

2333

02

1896

98

1894

90


50000

100000

150000

200000

250000

EXPORTS-2014 -2015

-5%

0%

5%

10%

0.29%

-2.42%

2.96%1.59%

0.32%

-3.06%

13.81%

-9.16%

YoY GROWTH

Apr May Jun Jul Aug Sep Oct Nov

0%

5%

10%

-0.16%-1.25%

3.55%

0.14%

-2.98%

-1.06%

13.31%

1.47%

YoY GROWTH


-10%

0%

10%

20%

-5.27%

-1.01%

26.77%

6.80% 7.55%

1.83%

-11.73%

-17.13%

YoY GROWTH




Two Wheelers

How did this segment fare? Let's take a look at the segment analysis; the sub-segment and each of the constituents:

Segment Analysis:• Production fell from 1,561,587 units to 1,418,592 units resulting in a decline of -9.16% (YoY)

• Domestic Sales grew from 1,301,434 units to 1,320,561 units resulting in a growth of +1.47% (YoY

• Exports declined from 228,652 units to 189,490 units resulting in the worst decline for the year at -17.13% (YoY)

• All this translated into an overall sales decline of -1.31% (YoY)







Sub-Segment Analysis:Scooters (Models include: Maestro, Hero Duet, Activa and others):

• Faring better than Motorcycles and Mopeds, Scooters brought in a growth of +2.45% (YoY) in Domestic Sales clocking in 396,024 unitsfrom the previous year of 386,547 units.

• Production stood at 409,566 units with a decline of -3.45% (YoY).

• Exports were the worst at 21,181 units compared to 28,380 units resulting in a decline of -25.37% (YoY). November was even worse offthan October as Domestic Sales was at its lowest of the year and Exports were at its second worst month of the year.





Motorcycles (Models include: Discover, Splendor, CB Twister and others):

• Motorcycles managed a growth of +1.58% (YoY) in Domestic Sales. 866,705 units were sold compared to 853,257 units; an addition of13,448 units.

• Production touched 952,358 units from 1,075,533 units translating into a decline of -11.45% (YoY).

• Exports were again the worst with 166,641 units compared to 199,534 units resulting in a decline of -16.48% (YoY).November Exportnumbers were the worst of the year.


• Production: -0.82% (YoY)





Constituent Analysis:• Outliers (manufacturer with the highest growth):

• Production: +42.74% (YoY) - Royal Enfield (Unit of Eicher)

• Domestic Sales: +48.22% (YoY) - Royal Enfield (Unit of Eicher)

• Exports: +70.17% (YoY) - Suzuki Motorcycle

• Total Overall Sales: +48.02% (YoY) - Royal Enfield (Unit of Eicher)

• Bajaj Auto broke into positive growth after 2 continuous months in the red. Overall Sales increased by +3.41% (YoY). Domestic Salesstood at +19.60% (YoY) - the only manufacturer after Royal Enfield and Mahindra Two Wheelers to clock in double digit growth. Exportswere bleak at -11.97% (YoY). Its market share increased from 16.73% to 17.94%.

• Hero MotoCorp - after 2 continuous months of 6 lakh+ sales, the overall sales for November fell to 550,731 units. Hero MotoCorp notonly managed to protect its market share from its rivals but also ate 1.81% into their share thereby increasing its total market share to36.47% from 34.66%. Domestic Sales fell from 13.50% (YoY) to 3.30% (YoY). Exports took a huge hit at -52.48% (YoY) continuing a 4month streak in the red.

• Honda Motorcycle & Scooter India (HMSI) lost over 2% of its market share during the month of November. All figures were in the red.Production was down -13.75% (YoY), Domestic Sales was also in the red at -11.82% (YoY), and Exports stood at -20.17% (YoY).November was the worst month for HMSI with an overall sales growth of -12.22% (YoY).

• Royal Enfield continued to outperform its rivals with a growth of +48.22% (YoY) in Domestic Sales and +32.85% (YoY) in Exports.December is expected to be in the red as the Chennai floods have caused most of the automotive majors to shut their plants.

• Mahindra Two Wheelers also managed a good recovery with a growth of +38.38% (YoY) in Domestic Sales - best of the year whileExports were in the negative at -32.74% (YoY) again the worst of the year.

Hero MotoCorp(Number of Vehicles)

CAPITALMIND • (C) ALL RIGHTS RESERVED • capitalmind.in Nov'15 The SparkPlug Report - [TWO WHEELERS] 11

5679

49

6024

83

5361

22

5541

10

5340

37 6209

84

5616

12

5544

36

5488

54

5780

94

5108

75

5028

47

4760

85 5849

44 6617

56

5063

61


200000

400000

600000


5585

56

5893

60

5305

60

5166

61

5355

03

5808

82

5506

88

5210

01

5250

51

5602

22

5152

79

4651

01

4605

57

5896

44

6250

31

5381

80


200000

400000

600000


1249

8

1312

3

1103

4

1320

1

2310

6

2317

0

2436

8

2641

2

8240 99

78

2708

3

2247

9

1998

0

1710

0

1477

1

1255

1


5000

10000

15000

20000

25000

EXPORTS-2014 -2015

-10%

-5%

0%

5%

10%

15%

-3.36% -4.05% -4.71%

-9.25%-10.85%

-5.80%

17.83%

-8.67%

YoY GROWTH


-10%

-5%

0%

5%

10%

-6.00%-4.94%

-2.88%

-9.98%

-14.00%

1.51%

13.50%

3.30%

YoY GROWTH


-50%

0%

50%

100%

-34.07%-23.97%

145.45%

70.28%

-13.53%-26.20%

-39.38%-52.48%

YoY GROWTH


38.27 %37.68 %

37.13 %35.13 %

34.65 %34.78 %34.92 %35.50 %

36.87 %37.05 %

34.37 %31.38 %

30.79 %33.79 %

36.16 %35.69 %

Apr'14May'14Jun'14Jul'14

Aug'14Sep'14Oct'14Nov'14Apr'15

May'15Jun'15Jul'15

Aug'15Sep'15Oct'15Nov'15

0 10 20 30

MARKET SHARE

43.33 %42.15 %42.01 %

39.78 %39.80 %

37.39 %37.67 %

40.03 %40.79 %40.57 %

39.40 %35.76 %35.28 %

38.36 %37.74 %

40.75 %



May'15Jun'15Jul'15


0 10 20 30 40

MARKET SHARE

6.41 %6.13 %6.05 %5.93 %

9.89 %10.11 %

11.34 %11.55 %

4.46 %4.71 %

11.72 %9.46 %

7.95 %7.33 %

7.79 %6.62 %



May'15Jun'15Jul'15


0 2 4 6 8 10

MARKET SHARE

Honda Motorcycle & Scooter India(Number of Vehicles)

CAPITALMIND • (C) ALL RIGHTS RESERVED • capitalmind.in Nov'15 The SparkPlug Report - [TWO WHEELERS] 12

3231

38

3508

09

3257

77 3957

12

3809

13

4261

51

3633

97

3700

74

3666

45

3532

77

3218

81

4130

67

3968

01

4208

28

4053

09

3191

79


100000

200000

300000

400000


3019

78

3421

36

3093

87 3639

77

3708

71 4206

00

3616

70

3537

43

3289

94

3534

09

3318

59

3713

49

3731

69

4116

45

4318

87

3119

46


100000

200000

300000

400000


1192

8

1340

3

1376

5 1743

5

1715

2

1790

0

1535

9 1802

7

1169

9

1378

7 1701

5

1825

7 2206

0

1908

9

1697

5

1439

1


5000

10000

15000

20000

EXPORTS-2014 -2015

-10%

-5%

0%

5%

10%

13.46%

0.70%-1.20%

4.39% 4.17%

-1.25%

11.53%

-13.75%

YoY GROWTH


-10%

0%

10%8.95%

3.29%

7.26%

2.03%0.62%

-2.13%

19.41%

-11.82%

YoY GROWTH

Apr May Jun Jul Aug Sep Oct Nov-20%

-10%

0%

10%

20%

-1.92%

2.87%

23.61%

4.71%

28.61%

6.64%10.52%

-20.17%

YoY GROWTH


21.77 %21.94 %22.56 %

25.09 %24.71 %

23.87 %22.60 %

23.70 %24.63 %

22.64 %21.65 %

25.78 %25.66 %

24.31 %22.15 %22.50 %



May'15Jun'15Jul'15


0 5 10 15 20 25

MARKET SHARE

23.42 %24.47 %24.50 %

28.03 %27.56 %

27.07 %24.74 %

27.18 %25.56 %25.59 %25.38 %

28.56 %28.59 %

26.78 %26.08 %

23.62 %



May'15Jun'15Jul'15


0 5 10 15 20 25

MARKET SHARE

6.12 %6.26 %

7.55 %7.83 %

7.34 %7.81 %

7.15 %7.88 %

6.34 %6.51 %

7.37 %7.68 %

8.78 %8.18 %

8.95 %7.59 %



May'15Jun'15Jul'15


0 2 4 6 8

MARKET SHARE

THREE WHEELERS

THREE WHEELERS


6218

8

6892

3

7651

4 8779

8

8830

9

9500

1

8738

0

9122

0

7707

6

7404

6

7508

8

8462

0

8546

7 9637

7

9094

2

6958

3


20000

40000

60000

80000


3344

6 4042

5 4738

3

5146

2

5255

0

5694

8

5230

7

4175

5

3266

6

3650

0 4387

5

4515

1

4612

4

4952

4

5236

1

4523

5


10000

20000

30000

40000

50000


2652

8

3028

5

3059

3 3719

8

3918

3

3637

0

3531

5 4233

7

4754

8

3874

3

3611

9

3828

3

4163

8

4473

0

3218

8

2763

1


10000

20000

30000

40000

EXPORTS-2014 -2015

-20%

-10%

0%

10%

20%

23.94%

7.43%

-1.86%-3.62% -3.22%

1.45%4.08%

-23.72%

YoY GROWTH


-10%

-5%

0%

5%

-2.33%

-9.71%

-7.40%

-12.26%-12.23%-13.04%

0.10%

8.33%

YoY GROWTH


-20%

0%

20%

40%

60%

79.24%

27.93%18.06%

2.92% 6.27%

22.99%

-8.85%

-34.74%

YoY GROWTH




Three Wheelers


Segment Analysis:• Production fell from 91,220 units to 69,583 units resulting in a decline of -23.72% (YoY)

• Domestic Sales broke into the positive for the first time during the year from 41,755 units to 45,235 units resulting in a growth of just+8.33% (YoY)

• Exports declined from 42,337 units to 27,631 units resulting in a decline of -34.74% (YoY)

• All this translated into an overall sales decline of -13.35% (YoY)







Sub-Segment Analysis:Passenger Carrier (Models include: Ape, Alfa Champ and others)

• PC and GC both mirrored similar results in Overall Sales at -13.47% (YoY) and 12.36% (YoY).

• Domestic Sales broke into the positive for the first time during the year at +13.52% (YoY) in Domestic Sales clocking in 37,118 unitsfrom the previous year of 32,696 units.

• Production was in the negative at -24.17% (YoY).

• Exports were at the worst with 27,482 units compared to 41,964 units resulting in a decline of -34.51% (YoY). November has been theworst for Exports while Domestic Sales has been the best of the year.





Goods Carrier (Models include: Atul Smart and others):

• After having the only positive month for the year in October, Domestic Sales went back to negative at -10.40% (YoY). 8,117 units weresold compared to 9,059 units during the same month of the previous year.

• For Exports, it had the worst month of the year at -60.05% (YoY) at 149 units compared to 373 units.








• Production: +18.84% (YoY) - Force Motors

• Domestic Sales: +24.05% (YoY) - Bajaj Auto

• Exports: +200% (YoY) - Force Motors

• Total Overall Sales: +200% (YoY) - Force Motors

• Bajaj Auto led the field with the second positive month of the year. Domestic Sales witnessed a growth of +24.05% (YoY) - best of theyear.However, Exports did not fare well with -39.47% (YoY) - the worst of the year. Domestic Sales helped the company increase itsmarket share from 52.10% to 53.14% (mostly eating into the market share of TVS Motors).

• Force Motors continued to maintain its focus on the International Markets such as Middle East, Asia, Latin America and Africa. Thecompany Exported 168 units compared to just 56 units for the same month of the previous year.

• Piaggio Vehicles continues is slow and steady pace of eating its rival's market share. The company has increased its market share from16.68% in April to 22.77% for the month of November. Both Domestic Sales and Exports were in the red at 1.38% (YoY) and -28.22%(YoY).

• TVS Motors losing 1.87% of its market share to its rivals managed to cut its losses with a better November. Domestic Sales stood at-6.93% (YoY) better than the double digit decline during the previous 3 months. Also for the first time in the year, its Exports were in thered at -16.70% (YoY) - in absolute terms it is a fall of over 40% in Exports.

Bajaj Auto(Number of Vehicles)

CAPITALMIND • (C) ALL RIGHTS RESERVED • capitalmind.in Nov'15 The SparkPlug Report - [THREE WHEELERS] 18

3224

0

3760

4

4336

4 5013

4

5085

1

5370

8

4770

5

5114

3

4685

0

4315

6

4142

6 4817

8

4903

3 5676

1

4912

9

3671

8


10000

20000

30000

40000

50000


1394

1

1898

0 2270

1

2448

4

2436

6

2598

8

2318

9

1587

7

1412

2

1594

6 2064

7

2187

0

2235

9

2288

8

2313

5

1969

5


5000

10000

15000

20000

25000


1795

2

1943

6

2056

2 2696

7

2817

2

2645

2

2590

5 3143

43636

1

2763

0

2308

8

2592

8

2917

0

3128

4

2091

8

1902

6


10000

20000

30000

EXPORTS-2014 -2015

-20%

0%

20%

40%

45.32%

14.76%

-4.47% -3.90% -3.58%

5.68%2.99%

-28.21%

YoY GROWTH


-10%

0%

10%

20%

1.30%

-15.99%

-9.05%-10.68%

-8.24%

-11.93%

-0.23%

24.05%

YoY GROWTH


0%

50%

100%102.55%

42.16%

12.28%

-3.85%3.54%

18.27%

-19.25%

-39.47%

YoY GROWTH


51.84 %54.56 %

56.67 %57.10 %57.58 %

56.53 %54.59 %56.07 %

60.78 %58.28 %

55.17 %56.93 %57.37 %

58.89 %54.02 %

52.77 %



May'15Jun'15Jul'15


0 20 40 60

MARKET SHARE

41.68 %46.95 %47.91 %47.58 %

46.37 %45.63 %

44.33 %38.02 %

43.23 %43.69 %

47.06 %48.44 %48.48 %

46.22 %44.18 %

43.54 %



May'15Jun'15Jul'15


0 10 20 30 40

MARKET SHARE

67.67 %64.18 %

67.21 %72.50 %71.90 %72.73 %73.35 %74.25 %

76.47 %71.32 %

63.92 %67.73 %

70.06 %69.94 %

64.99 %68.86 %



May'15Jun'15Jul'15


0 20 40 60

MARKET SHARE

Piaggio Vehicles(Number of Vehicles)

CAPITALMIND • (C) ALL RIGHTS RESERVED • capitalmind.in Nov'15 The SparkPlug Report - [THREE WHEELERS] 19

1485

1

1476

4 1693

3

1846

8

1888

0

1972

3

1865

2

1870

0

1373

1

1407

9

1523

6

1616

8

1568

0

1660

4

1828

0

1622

3


5000

10000

15000


1229

7

1258

4

1437

2

1584

6

1656

5

1775

6

1672

3

1477

1

1124

2

1240

3

1321

6

1289

5

1289

6

1466

3

1630

6

1456

7


5000

10000

15000


2503

2536

2353

2439 25

97

2135

1738

2817

2134 22

59

2827 30

30

2512

2479

1817 20

22


1000

2000

3000

EXPORTS-2014 -2015

-15%

-10%

-5%-7.54%

-4.64%

-10.02%

-12.45%

-16.95%-15.81%

-1.99%

-13.25%

YoY GROWTH


-20%

-15%

-10%

-5%-8.58%

-1.44%

-8.04%

-18.62%

-22.15%

-17.42%

-2.49%-1.38%

YoY GROWTH


-20%

-10%

0%

10%

20%

-14.74%-10.92%

20.14%24.23%

-3.27%

16.11%

4.55%

-28.22%

YoY GROWTH


23.88 %21.42 %

22.13 %21.03 %21.38 %

20.76 %21.35 %

20.50 %17.81 %

19.01 %20.29 %

19.11 %18.35 %

17.23 %20.10 %

23.31 %



May'15Jun'15Jul'15


0 5 10 15 20

MARKET SHARE

36.77 %31.13 %

30.33 %30.79 %31.52 %31.18 %31.97 %

35.38 %34.41 %33.98 %

30.12 %28.56 %

27.96 %29.61 %

31.14 %32.20 %



May'15Jun'15Jul'15


0 10 20 30

MARKET SHARE

9.44 %8.37 %

7.69 %6.56 %6.63 %

5.87 %4.92 %

6.65 %4.49 %

5.83 %7.83 %7.91 %

6.03 %5.54 %5.64 %

7.32 %



May'15Jun'15Jul'15


0 2 4 6 8

MARKET SHARE

PASSENGER VEHICLES

PASSENGER VEHICLES


2583

60

2688

66

2349

46 2773

09

2608

82

2860

56

2421

41 2812

34

2864

53

2700

86

2586

30 3029

58

2897

44

2891

63

2963

59

2522

03


100000

200000

300000


1881

62

2079

53

2188

28

1995

62

2139

38

2235

84

2211

63

2124

37

2179

49

2176

71

2176

42

2223

68

2224

76

2321

67 2686

29

2366

64


50000

100000

150000

200000

250000


4176

4

4801

7

5153

3

5549

2

5305

2

5775

2

4863

7 5621

4

5047

9

5155

2

4034

3

6021

6

5956

8

5742

1

5925

5

5138

1


20000

40000

60000

EXPORTS-2014 -2015

-10%

0%

10%

20%

10.87%

0.45%

10.08% 9.25%11.06%

1.09%

22.39%

-10.32%

YoY GROWTH


0%

5%

10%

15%

20%15.83%

4.67%

-0.54%

11.43%

3.99% 3.84%

21.46%

11.40%

YoY GROWTH


-20%

-10%

0%

10%

20%20.87%

7.36%

-21.71%

8.51%12.28%

-0.57%

21.83%

-8.60%

YoY GROWTH




Passenger Vehicles (Passenger Cars + Utility Vehicles + Vans)


Segment Analysis:• Production declined for the first time during the year from 281,234 units to 252,203 units resulting in a decline of -10.32% (YoY)

• Domestic Sales grew from 212,437 units to 236,664 units resulting in a growth of +11.40% (YoY)

• Exports also went into the red from 56,214 units to 51,381 units resulting in a decline of -8.60% (YoY). All this translated into an overallsales growth of +7.22% (YoY)




• Exports: +5.52% (YoY)

Sub-Segment Analysis:Passenger Cars (Models include: KWID, M800, Micra, Nano, Polo, Santro, Spark, and others):

• PC brought in a growth of +10.39% (YoY) in Domestic Sales churning in 173,111 units from the previous year of 156,811 units

• UVs beat PCs in Exports with the latter falling into the negative at -17.35% (YoY) from 48,871 units to 40,390 units







Utility Vehicles (Models include: Bolero, Creta, Eco sport, Force One, Terrano, Thar and others):

• UVs outperformed PCs in Domestic Sales with a growth of +19.65% (YoY) - 48,880 units were sold compared to 40,815 units; an additionof 8,029 units propelling November into the second best month after October so far.

• Domestic Sales effect also rubbed to Exports. Exports touched +51.99% (YoY) - mainly contributed by Ford and Toyota Motors. Exportsstood at 10,898 units compared to 7,170 units - an overall increase of 3,728 units.





Vans (Models include: Ace Magic, Gio, Omni, Trip, Venture and others):

• Both PCs and UVs outperformed Vans in both Domestic Sales and Exports. 14,673 units were sold against 14,775 units a year ago in theDomestic Market resulting in a decline of -0.69% (YoY).

• Exports fell to the worst of the year at -46.24% (YoY) with 93 units being exported compared to 173 units during the same month of theprevious year.








• Production: +75.68% (YoY) - Renault India

• Domestic Sales: +144.27% (YoY) - Renault India

• Exports: +2526.67% (YoY) - General Motors

• Total Overall Sales: +128.99% (YoY) - Renault India

• Volkswagen India leads the losers with Domestic Sales declining at -49.51% (YoY) - its worst growth yet. Force Motors leads the loserswith Exports declining at -100% (YoY); while Renault India concentrating on the Domestic Market with its iconic Duster and KWIDdecided to export just 8 units of Duster leading to a decline of -96.31% (YoY) - the average for the year including November has been-98.18%.

• Market leader Maruti Suzuki continues to disrupt the Domestic Market clocking in a growth of +10.57% (YoY) 110,599 units compared to100,024 units a year ago. Exports were at its second worst of the year at +1.02% (YoY) from 10,122 units to 10,225 units. It alsomanaged to add +1.01% to its market share.

• Renault India, Force Motors, General Motors India, and Ford India were the top performers with an exceptional growth in Overall Sales by+128.99% (YoY), +77.20% (YoY), +54.32% (YoY), and +34.69% (YoY).

• Hyundai Motor's market share rose by +1.20% to +20.02% though the company had its second worst month of Exports at -25.41% i.e. itexported 4,771 units lesser than the previous year during the same time. Its Domestic Sales stood at +22.92% (YoY) - third best month ofthe year.

• Mahindra & Mahindra lost steam of its SUVs sales. The company lost 0.57% of its market share. Bulk of its Domestic Sales & Exportscomes from the contributions of Scorpio, Xylo, HT, Bolero Plus, XUV500 followed by Bolero, ST, Quanto, Thar, and TUV300. DomesticSales growth of +35.86% (YoY) was the best for the current year which meant that the company for the second time in the current yearhad a positive overall growth at +33.45% (YoY) while Exports went into the red at -53.23% (YoY) - the second worst during the currentyear.

PASSENGER CARS

PASSENGER CARS


1902

52

2028

42

1769

24 2042

24

1978

24

2092

84

1770

64 2102

13

2137

32

2028

93

1965

83 2271

97

2153

72

2112

08

2129

54

1876

11


50000

100000

150000

200000


1350

54

1485

77

1602

32

1379

22

1537

81

1548

98

1594

08

1568

11

1595

48

1600

67

1626

77

1620

22

1630

93

1695

90 1941

58

1731

11


50000

100000

150000


3515

4 4159

2

4603

6

4849

1

4658

7

5100

3

4346

3

4887

1

4281

5

4501

5

3595

7

5171

9

4657

9

4495

8

4739

8

4039

0


10000

20000

30000

40000

50000

EXPORTS-2014 -2015

-10%

0%

10%

20%

12.34%

0.03%

11.11% 11.25%8.87%

0.92%

20.27%

-10.75%

YoY GROWTH


5%

10%

15%

20% 18.14%

7.73%

1.53%

17.47%

6.06%

9.48%

21.80%

10.39%

YoY GROWTH


-20%

-10%

0%

10%

20%

21.79%

8.23%

-21.89%

6.66%

-0.02%

-11.85%

9.05%

-17.35%

YoY GROWTH


Hyundai Motor India(Number of Vehicles)

CAPITALMIND • (C) ALL RIGHTS RESERVED • capitalmind.in Nov'15 The SparkPlug Report - [PASSENGER CARS] 27

4886

5

4636

1 5281

0

5375

0

5133

5

5355

3

4556

5 5270

4

5339

2

4436

2

5549

8

4950

4

4830

0

4962

0

4887

8

4164

7


10000

20000

30000

40000

50000


3511

0

3595

5

3325

8

2906

7 3359

3

3490

6

3789

4

3544

8

3847

4

3732

8

3454

2

2959

9

3298

5

3519

3 3970

9

3777

1


10000

20000

30000


1497

4

1551

3

1700

4

1873

9

1436

1 1643

0

1800

9

1877

9

1290

4 1506

4

1576

4

1390

2

1355

7

1233

1

1307

4

1189

1


5000

10000

15000

EXPORTS-2014 -2015

-20%

-10%

0%

9.26%

-4.31%

5.09%

-7.90%-5.91%

-7.34%

7.27%

-20.98%

YoY GROWTH


0%

2%

4%

6%

8%

9.58%

3.82% 3.86%

1.83%

-1.81%

0.82%

4.79%

6.55%

YoY GROWTH


-30%

-20%

-10% -13.82%

-2.89%

-7.29%

-25.81%

-5.60%

-24.95%-27.40%

-36.68%

YoY GROWTH


25.68 %22.86 %

29.85 %26.32 %

25.95 %25.59 %25.73 %

25.07 %24.98 %

21.86 %28.23 %

21.79 %22.43 %

23.49 %22.95 %

22.20 %



May'15Jun'15Jul'15


0 5 10 15 20 25

MARKET SHARE

26.00 %24.20 %

20.76 %21.07 %

21.84 %22.53 %

23.77 %22.61 %

24.11 %23.32 %

21.23 %18.27 %

20.22 %20.75 %20.45 %

21.82 %



May'15Jun'15Jul'15


0 5 10 15 20 25

MARKET SHARE

42.60 %37.30 %36.94 %

38.64 %30.83 %

32.21 %41.44 %

38.43 %30.14 %

33.46 %43.84 %

26.88 %29.11 %

27.43 %27.58 %

29.44 %



May'15Jun'15Jul'15


0 10 20 30 40

MARKET SHARE

Maruti Suzuki India(Number of Vehicles)

CAPITALMIND • (C) ALL RIGHTS RESERVED • capitalmind.in Nov'15 The SparkPlug Report - [PASSENGER CARS] 28

8896

3 1039

25

6650

7

9254

4

9274

1

9566

7

7261

5

9686

4

9788

4

1063

19

7968

4

1113

32

1021

00

9710

2

1021

47

8499

4


20000

40000

60000

80000

100000


6578

6

7453

6 8622

3

7278

2

8282

3

8144

7

8058

9

8230

6

8418

8

8519

0

8663

0

9160

2

8645

4

8791

6

9795

1

8947

9


20000

40000

60000

80000


6867

9581 10

532

1041

0

1095

5

9207

6073

882299

31

1155

4

1146

5

1064

7

1035

8

7247

1221

3

8965


5000

10000

EXPORTS-2014 -2015

-10%

0%

10%

20%

30%

40%

10.03%

2.30%

19.81% 20.30%

10.09%

1.50%

40.67%

-12.25%

YoY GROWTH


5%

10%

15%

20%

25%

27.97%

14.29%

0.47%

25.86%

4.38%

7.94%

21.54%

8.72%

YoY GROWTH


0%

50%

100%

44.62%

20.59%

8.86%2.28%

-5.45%

-21.29%

101.10%

1.62%

YoY GROWTH


46.76 %51.23 %

37.59 %45.31 %

46.88 %45.71 %

41.01 %46.08 %45.80 %

52.40 %40.53 %

49.00 %47.41 %

45.97 %47.97 %

45.30 %



May'15Jun'15Jul'15


0 10 20 30 40 50

MARKET SHARE

48.71 %50.17 %

53.81 %52.77 %53.86 %

52.58 %50.56 %

52.49 %52.77 %53.22 %53.25 %

56.54 %53.01 %

51.84 %50.45 %51.69 %



May'15Jun'15Jul'15


0 10 20 30 40 50

MARKET SHARE

19.53 %23.04 %22.88 %

21.47 %23.52 %

18.05 %13.97 %

18.05 %23.20 %

25.67 %31.89 %

20.59 %22.24 %

16.12 %25.77 %

22.20 %



May'15Jun'15Jul'15


0 10 20 30

MARKET SHARE

UTILITY VEHICLES

UTILITY VEHICLES


5421

9

4993

5

4545

9 5582

0

4879

0 6037

1

5223

2

5599

3

5694

1

5090

9

5016

4 5908

7

5925

6

6277

2

6673

2

5122

3


20000

40000

60000


4068

0

4426

7

4384

9

4502

3

4650

1 5300

3

4810

5

4085

1

4352

6

4326

0

4127

8

4519

1

4460

8

4846

4 5812

0

4888

0


10000

20000

30000

40000

50000


6535

6366

5314 67

17

6132

6313

5082

7170

7465

6165

3860

7979

1273

6

1212

7

1175

7

1089

8


5000

10000

EXPORTS-2014 -2015

0%

10%

20%

5.02%1.95%

10.35%

5.85%

21.45%

3.98%

27.76%

-8.52%

YoY GROWTH


-5%

0%

5%

10%

15%

20%

7.00%

-2.27%

-5.86%

0.37%

-4.07%

-8.56%

20.82%19.65%

YoY GROWTH


0%

50%

100%

14.23%

-3.16%

-27.36%

18.79%

107.70%

92.10%

131.35%

51.99%

YoY GROWTH


Mahindra & Mahindra(Number of Vehicles)

CAPITALMIND • (C) ALL RIGHTS RESERVED • capitalmind.in Nov'15 The SparkPlug Report - [UTILITY VEHICLES] 31

2137

9

1854

9

1535

8

1592

7

1431

0 1822

2

1747

5

1678

3

1809

7

1919

7

1638

7

1264

9

1248

1

1788

8

2326

6

1958

6


5000

10000

15000

20000


1785

7

1783

1

1649

2

1434

8

1391

1

1964

7

1902

9

1361

2

1794

1

1698

0

1443

3

1320

4

1330

7

1871

7 2266

4

1868

6


5000

10000

15000

20000


491

431

271

379

216

339

328

402

251

343

439

496

474

480

401

188


100

200

300

400

EXPORTS-2014 -2015

-20%

-10%

0%

10%

20%

30%

-15.35%

3.49%6.70%

-20.58%

-12.78%

-1.83%

33.14%

16.70%

YoY GROWTH


-10%

0%

10%

20%

30%

0.47%

-4.77%

-12.48%

-7.97%-4.34% -4.73%

19.10%

37.28%

YoY GROWTH


-50%

0%

50%

100%

-48.88%

-20.42%

61.99%

30.87%

119.44%

41.59%

22.26%

-53.23%

YoY GROWTH


39.43 %37.15 %

33.78 %28.53 %29.33 %30.18 %

33.46 %29.97 %

31.78 %37.71 %

32.67 %21.41 %21.06 %

28.50 %34.86 %

38.24 %



May'15Jun'15Jul'15


0 10 20 30

MARKET SHARE

43.90 %40.28 %

37.61 %31.87 %

29.92 %37.07 %

39.56 %33.32 %

41.22 %39.25 %

34.97 %29.22 %29.83 %

38.62 %39.00 %

38.23 %



May'15Jun'15Jul'15


0 10 20 30 40

MARKET SHARE

7.51 %6.77 %

5.10 %5.64 %

3.52 %5.37 %

6.45 %5.61 %

3.36 %5.56 %

11.37 %6.22 %

3.72 %3.96 %

3.41 %1.73 %



May'15Jun'15Jul'15


0 2 4 6 8 10

MARKET SHARE

Renault India(Number of Vehicles)

CAPITALMIND • (C) ALL RIGHTS RESERVED • capitalmind.in Nov'15 The SparkPlug Report - [UTILITY VEHICLES] 32

7183

4126

2130

3876

2345

3975

3207

3277

5156

4428

5464

4227

2311

1866

405

204


2000

4000

6000


3175 33

50

3822

2823 31

06 3418

3419

2676

3742

3377

4018

1528

1381

1276

2033

2124


1000

2000

3000

4000


1647

554

430

389

333

59 38

217

22 4 30 0 6 0 0 8


500

1000

1500

EXPORTS-2014 -2015

-50%

0%

50%

100%

150%

-28.22%

7.32%

156.53%

9.06%-1.45%

-53.06%

-87.37%-93.77%

YoY GROWTH


-60%

-40%

-20%

0%

17.86%

0.81%5.13%

-45.87%

-55.54%

-62.67%

-40.54%

-20.63%

YoY GROWTH


-98%

-96%

-94%

-98.66%

-99.28%

-93.02%

-100.00%

-98.20%

-100.00%-100.00%

-96.31%

YoY GROWTH


13.25 %8.26 %

4.69 %6.94 %

4.81 %6.58 %

6.14 %5.85 %

9.05 %8.70 %

10.89 %7.15 %

3.90 %2.97 %

0.61 %0.40 %



May'15Jun'15Jul'15


0 5 10

MARKET SHARE

7.80 %7.57 %

8.72 %6.27 %

6.68 %6.45 %

7.11 %6.55 %

8.60 %7.81 %

9.73 %3.38 %

3.10 %2.63 %

3.50 %4.35 %



May'15Jun'15Jul'15


0 2 4 6 8

MARKET SHARE

25.20 %8.70 %

8.09 %5.79 %

5.43 %0.93 %0.75 %

3.03 %0.29 %0.06 %

0.78 %0.00 %0.05 %0.00 %0.00 %0.07 %



May'15Jun'15Jul'15


0 5 10 15 20 25

MARKET SHARE

COMMERCIAL VEHICLES

COMMERCIAL VEHICLES


5713

9

5398

4

5404

5

5701

7

5621

4

6054

7

5398

1

5997

6

5728

9

5943

3

5716

4

5910

2

6353

5 7189

1

6095

5

5910

0


20000

40000

60000


4308

0

4698

6

5107

9

4777

5

4851

8 5607

8

5197

8

4768

6

4587

2

4884

1

5144

6

5179

5

5219

8 6284

5

5859

6

5176

6


20000

40000

60000


5747 63

43

6656 72

41

7098

8157

7494

7349

6889

8403

8330 86

99 9321

7672 81

68

7137


2000

4000

6000

8000

EXPORTS-2014 -2015

0%

5%

10%

15%

0.26%

10.09%

5.77%

3.66%

13.02%

18.74%

12.92%

-1.46%

YoY GROWTH


5%

10%

6.48%

3.95%

0.72%

8.41%7.58%

12.07%12.73%

8.56%

YoY GROWTH


0%

10%

20%

30%

19.87%

32.48%

25.15%

20.14%

31.32%

-5.95%

8.99%

-2.88%

YoY GROWTH




Commercial Vehicles (Passenger Carriers + Goods Carriers)


Segment Analysis:• Production fell from 59,976 units to 59,100 units resulting in a decline of -1.46% (YoY)

• Domestic Sales grew from 47,686 units to 51,766 units resulting in a growth of +8.56% (YoY)

• Exports fell from 7,349 units to 7,137 units resulting in a decline of -2.88% (YoY)

• All this translated into an overall sales growth of +7.03% (YoY)







Sub-Segment Analysis:Passenger Carriers (Models include: Citiline, CityRide, Starbus, Tourister, Viking and others):

• PC brought in a growth of +14.25% (YoY) in Domestic Sales clocking in 4,570 units from the previous year of 4,000 units - this alsohappens to be the lowest Domestic Sales for the current year.

• Exports were in the red at -26.92% (YoY) as the total units exported fell by 476 units from 1,768 units to 1,292 units.

• Overall sales growth was at +1.63% (YoY) - lowest of the year.





Goods Carriers (Models include: Ape Truck, Bolero Maxi Truck, Maxximo, Super Supreme, Winger and others):

• GC fared a lower growth of +8.03% (YoY) in Domestic Sales - 47,196 units were sold compared to 43,686 units; an addition of 3,510units.

• Exports fared positive with a growth of +4.73% (YoY).








• Production: +124.37% (YoY) - SML Isuzu

• Domestic Sales: +35% (YoY) - Isuzu Motors

• Exports: +35.29% (YoY) - SML Isuzu

• Total Overall Sales: +35% (YoY) - Isuzu Motors

• Mahindra & Mahindra which increased its market share by a whopping 7.5% in October, lost almost 3% of its market share to rival TataMotors which increased its market share from 43.10% to 45.59%.

• Tata Motors hit the red in Domestic Sales with a decline of -0.87% (YoY). The company managed to sell 23,389 units compared to23,594 units a year ago. Additionally, Exports which fared at +11.15% (YoY) during the month of October, reversed its trajectory to clockin a decline of -11.66% (YoY) with 3,463 units being exported compared to 3,920 units from a year ago.

• Ashok Leyland managed a decent growth in Domestic Sales at +24.05% (YoY) by selling 7,979 units compared to 6,432 units a year ago -fall of over a 1,000 units. Exports stood at 992 units compared to 1,274 units brining in a decline of -22.14% (YoY).

BUSES - PASSENGER CARRIERS

BUSES - PASSENGER CARRIERS


3936 42

71

4013 44

29

3882

3469

2513

324235

66

4466

5194

5083

4375 47

73

2445

3271


1000

2000

3000

4000

5000


2877 32

84 3725

2950

2681

2523

2039

1665

3291

4259

4194 44

40

3041

3682

2398

2044


1000

2000

3000

4000


475

659 78

5

778

942

1296

1106

1325

518

815

1016

820

1140

767

1184

1033


500

1000

EXPORTS-2014 -2015

0%

10%

20%

30%

-9.40%

4.57%

29.43%

14.77%12.70%

37.59%

-2.71%0.89%

YoY GROWTH


20%

30%

40%

50%

14.39%

29.69%

12.59%

50.51%

13.43%

45.94%

17.61%

22.76%

YoY GROWTH


-40%

-20%

0%

20%9.05%

23.67%29.43%

5.40%

21.02%

-40.82%

7.05%

-22.04%

YoY GROWTH


Ashok Leyland(Number of Vehicles)

CAPITALMIND • (C) ALL RIGHTS RESERVED • capitalmind.in Nov'15 The SparkPlug Report - [BUSES - PASSENGER CARRIERS] 40

1458 15

84 1837

1845

1909 20

36

1394 15

95

1131

2018

2398

2774

2395 24

98

1542 16

75


500

1000

1500

2000

2500


807

879 11

66

1009 12

21

1119

933

657

940

1550

1404

2255

1556

1861

1126

1088


500

1000

1500

2000


280 34

9

469 54

2

643

780

743

852

243

426

604

449

557

373

739

542


200

400

600

800

EXPORTS-2014 -2015

-20%

0%

20%

40%

-22.43%

27.40%30.54%

50.35%

25.46%22.69%

10.62%5.02%

YoY GROWTH


20%

40%

60%

80%

100%

120%

16.48%

76.34%

20.41%

123.49%

27.44%

66.31%

20.69%

65.60%

YoY GROWTH


-40%

-20%

0%

20%

-13.21%

22.06%28.78%

-17.16%-13.37%

-52.18%

-0.54%

-36.38%

YoY GROWTH


37.04 %37.09 %

45.78 %41.66 %

49.18 %58.69 %

55.47 %49.20 %

31.72 %45.19 %46.17 %

54.57 %54.74 %

52.34 %63.07 %

51.21 %



May'15Jun'15Jul'15


0 20 40 60

MARKET SHARE

28.05 %26.77 %

31.30 %34.20 %

45.54 %44.35 %

45.76 %39.46 %

28.56 %36.39 %

33.48 %50.79 %51.17 %50.54 %

46.96 %53.23 %



May'15Jun'15Jul'15


0 10 20 30 40 50

MARKET SHARE

58.95 %52.96 %

59.75 %69.67 %

68.26 %60.19 %

67.18 %64.30 %

46.91 %52.27 %

59.45 %54.76 %

48.86 %48.63 %

62.42 %52.47 %



May'15Jun'15Jul'15


0 20 40 60

MARKET SHARE

Tata Motors(Number of Vehicles)

CAPITALMIND • (C) ALL RIGHTS RESERVED • capitalmind.in Nov'15 The SparkPlug Report - [BUSES - PASSENGER CARRIERS] 41

1387

1409

1410

1707

1121

1068

724

124914

06

1235

1496

1183

1234

1721

490

911


500

1000

1500


1120 12

67 1330

1148

974

925

839

737

1225

1393 14

57

1360

1048

1395

1009

671


500

1000


172

310

311

234 28

3

427

302

432

244

333

320

318

547

316

408

354


100

200

300

400

500

EXPORTS-2014 -2015

-20%

0%

20%

40%

60%

1.37%

-12.35%

6.10%

-30.70%

10.08%

61.14%

-32.32%-27.06%

YoY GROWTH


0%

10%

20%

30%

40%

50%

9.38% 9.94% 9.55%

18.47%

7.60%

50.81%

20.26%

-8.96%

YoY GROWTH


-20%

0%

20%

40%

60%

80%

41.86%

7.42%2.89%

35.90%

93.29%

-26.00%

35.10%

-18.06%

YoY GROWTH


35.24 %32.99 %

35.14 %38.54 %

28.88 %30.79 %

28.81 %38.53 %39.43 %

27.65 %28.80 %

23.27 %28.21 %

36.06 %20.04 %

27.85 %



May'15Jun'15Jul'15


0 10 20 30

MARKET SHARE

38.93 %38.58 %

35.70 %38.92 %

36.33 %36.66 %

41.15 %44.26 %

37.22 %32.71 %

34.74 %30.63 %

34.46 %37.89 %

42.08 %32.83 %



May'15Jun'15Jul'15


0 10 20 30 40

MARKET SHARE

36.21 %47.04 %

39.62 %30.08 %30.04 %

32.95 %27.31 %

32.60 %47.10 %

40.86 %31.50 %

38.78 %47.98 %

41.20 %34.46 %34.27 %



May'15Jun'15Jul'15


0 10 20 30 40

MARKET SHARE

TRUCKS - GOODS CARRIERS

TRUCKS - GOODS CARRIERS


1683

2

1687

1

1640

4

1674

0

1772

1

1669

2

1605

2

1885

0

1988

7

2150

5

2043

5

2048

9 2480

4 2922

7

1784

8 2247

4


5000

10000

15000

20000

25000


1255

2

1328

8

1464

9

1485

9

1431

9

1651

2

1585

3

1448

3

1598

6

1635

6

1799

0

1862

1

1997

5

2749

0

1978

3

1810

1


5000

10000

15000

20000

25000


1772

1651

1503

1919

1626

1451

1398

1392

1812

1825

2353

1963

2021

1606 17

09

1362


500

1000

1500

2000

EXPORTS-2014 -2015

20%

40%

60%

18.15%

27.47%24.57% 22.40%

39.97%

75.10%

11.19%

19.23%

YoY GROWTH


30%

40%

50%

60%

27.36%

23.09% 22.81%25.32%

39.50%

66.48%

24.79% 24.98%

YoY GROWTH


0%

10%

20%

30%

40%

50%

2.26%

10.54%

56.55%

2.29%

24.29%

10.68%

22.25%

-2.16%

YoY GROWTH


Mahindra & Mahindra(Number of Vehicles)

CAPITALMIND • (C) ALL RIGHTS RESERVED • capitalmind.in Nov'15 The SparkPlug Report - [TRUCKS - GOODS CARRIERS] 44

277 32

1

395

291

159

272

190 24

0

337

350

344

423

357

490

587

466


100

200

300

400

500


244

238 27

9

284

282

180 21

6 259

260

343 40

4

314 34

1

511

581

454


100

200

300

400

500


0 0

7 10 10 10

4

0

5

20

0

54

26

37

7 6


10

20

30

40

50

EXPORTS-2014 -2015

0%

50%

100%

150%

200%

21.66%9.03%

-12.91%

45.36%

124.53%

80.15%

208.95%

94.17%

YoY GROWTH


50%

100%

150%

6.56%

44.12% 44.80%

10.56%20.92%

183.89%168.98%

75.29%

YoY GROWTH


0%

100%

200%

300%

400%

0.00% 0.00%

-100.00%

440.00%

160.00%

270.00%

75.00%

0.00%

YoY GROWTH


1.65 %1.90 %

2.41 %1.74 %

0.90 %1.63 %

1.18 %1.27 %

1.69 %1.63 %1.68 %

2.06 %1.44 %

1.68 %3.29 %

2.07 %



May'15Jun'15Jul'15


0 1 2 3

MARKET SHARE

1.94 %1.79 %

1.90 %1.91 %1.97 %

1.09 %1.36 %

1.79 %1.63 %

2.10 %2.25 %

1.69 %1.71 %

1.86 %2.94 %

2.51 %



May'15Jun'15Jul'15


0.0 0.5 1.0 1.5 2.0 2.5

MARKET SHARE

0.00 %0.00 %

0.47 %0.52 %

0.62 %0.69 %

0.29 %0.00 %

0.28 %1.10 %

0.00 %2.75 %

1.29 %2.30 %

0.41 %0.44 %



May'15Jun'15Jul'15


0.0 0.5 1.0 1.5 2.0 2.5

MARKET SHARE

Tata Motors(Number of Vehicles)

CAPITALMIND • (C) ALL RIGHTS RESERVED • capitalmind.in Nov'15 The SparkPlug Report - [TRUCKS - GOODS CARRIERS] 45

9911

9329 9894

9835

1027

2

1016

8

1030

6 1216

7

1085

0

1247

9

1238

6

1142

1 1336

9 1567

4

1017

8

1345

0


5000

10000

15000


7305 78

46

8290

8577

8167 94

79

9513

8715

8954

9395 99

93

1044

8

1096

9

1452

0

1149

5

1085

3


5000

10000


983

758 88

3

1348

1093

1029

917

86698

9 1178

1619

1380

1262

993

1061

846


500

1000

1500

EXPORTS-2014 -2015

0%

10%

20%

30%

40%

50%

9.47%

33.77%

25.19%

16.13%

30.15%

54.15%

-1.24%

10.54%

YoY GROWTH


20%

30%

40%

50%

22.57%19.74% 20.54%

21.81%

34.31%

53.18%

20.83%

24.53%

YoY GROWTH


0%

20%

40%

60%

80%

0.61%

55.41%

83.35%

2.37%

15.46%

-3.50%

15.70%

-2.31%

YoY GROWTH


58.88 %55.30 %

60.31 %58.75 %57.97 %

60.92 %64.20 %64.55 %

54.56 %58.03 %

60.61 %55.74 %

53.90 %53.63 %

57.03 %59.85 %



May'15Jun'15Jul'15


0 20 40 60

MARKET SHARE

58.20 %59.05 %

56.59 %57.72 %57.04 %57.41 %

60.01 %60.17 %

56.01 %57.44 %

55.55 %56.11 %

54.91 %52.82 %

58.11 %59.96 %



May'15Jun'15Jul'15


0 20 40 60

MARKET SHARE

55.47 %45.91 %

58.75 %70.24 %

67.22 %70.92 %

65.59 %62.21 %

54.58 %64.55 %

68.81 %70.30 %

62.44 %61.83 %62.08 %62.11 %



May'15Jun'15Jul'15


0 20 40 60

MARKET SHARE

Economy & Finance

Capital Mind Sparkplug Report on Indian Automobile Industry for November - 2015 Teaser