Auto stocks soar higher: Nifty Auto up 1.6%, Maruti Suzuki jumps over 3%, M&M, Tata Motors rise up to 2%

Shares of auto companies were trading higher on Friday, May 2, after a few of them reported an increase in vehicle dispatches to dealers last month.

The NIFTY Auto sector was trading 1.66% higher in the early trades, with Maruti Suzuki, Exide India and Tata Motors being the top gainers.

Maruti Suzuki India and Mahindra & Mahindra reported an increase in vehicle dispatches to dealers in April, while Tata Motors and Hyundai saw a year-on-year (YoY) drop in sales.

Market leader Maruti Suzuki India reported a 1% year-on-year increase in total domestic dispatches (including PVs and LCV Super Carry) last month at 142,053 units.

Its total domestic passenger vehicle sales rose marginally to 138,704 units compared to 137,952 units in the year-ago month.

"Despite a challenging market environment and no new model launches, we have managed to maintain our performance, with wholesales of around 1.42 lakh units, which is better than April 2024," MSI Senior Executive Officer (Marketing & Sales) Partho Banerjee stated.

Mahindra & Mahindra (M&M) said its utility vehicle sales surged 28% to 52,330 units in the domestic market last month against 41,008 units in the year-ago period.

Hyundai said its dispatches to dealers in the domestic market stood at 44,374 units in April, a dip of 12%, as compared with 50,201 units in the year-ago period. Kia India reported an 18% on-year increase in domestic wholesales to 23,623 units in April against 19,968 units to dealers in April 2024.

In the two-wheelers space, TVS Motor Company reported a 7% on-year growth in sales at 323,647 units in April.

Exide India, Tata Motors, TVS Motors and Mahindra & Mahindra shares also jumped 2.6%, 1.96%, 1.66% and 1.38%, respectively.

Shares of Hero MotoCorp and Bharat Forge were also trading 0.91% and 0.81% higher.

Meanwhile, Hyundai Motor India shares were trading at ₹1703.9 apiece, falling 0.22% on NSE.

Bajaj Auto’s total sales declined 6% YoY to 365,810 units in April. Its domestic sales fell 11% YoY to 220,615 units, as against 249,083 units in the year-ago period. Following this, shares of the firm were trading at ₹7,944 apiece, down 1.07%.

Honda Cars India on Thursday said its domestic sales declined 23% year-on-year to 3,360 units in April. The automaker dispatched 4,351 units to dealers in April last year. Exports declined to 1,511 units last month as compared with 6,516 units in April last year.

Royal Enfield’s overall sales increased 6% YoY to 86,559 units in April as compared to 82,043 units sold in April last year.

Domestic dispatches to dealers stood at 76,002 units last month, an increase of 1%, as against 75,038 units in April last year. Its exports rose 55% YoY to 10,557 units during the month.

Eicher Motors’ arm VE Commercial Vehicles posted a 27.3% increase in total sales at 6,846 units for April as compared to the same month last year. April 2025 sales included 6,717 units of the Eicher brand and 129 units of the Volvo brand.

Shares of the firm were trading at ₹5,443 on the NSE, slipping 2.23%.

JSW MG Motor India on Thursday said its sales increased 23 per cent year-on-year to 5,829 units in April. The automaker dispatched 4,725 units to dealers in April last year.