Bajaj Auto closed around 8 per cent lower after it reported monthly sales of 305,000 vehicles for December 2011 against 276,000 reported in December 2010. The sales were way below the analysts' expectations of 3,16,000 units.
Chennai-based two-wheeler maker TVS Motor Company reported a marginal fall in total vehicle sales for December 2011 at 1,70,428 units. The stock of the company closed 7.32 per cent lower.
Motorcycle sales stood at 263,000 against 243,000 units ( up 8% YoY). The company’s guidance of Bajaj Auto has come under threat with this performance . In April – December 2011, the company has posted 33 lakh units in sales.
Another auto major Mahindra & Mahindra clocked a 26 per cent growth in sales at 42,761 units during December 2011. Domestic sales stood at 39,891 units, up 23 per cent over December 2010.
M&M shares closed 1.35 per cent lower.
HeroMoto Corp closed 3.50 per cent ahead of its fourth quarter results.
Tata Motors was the only exception, with the company on Sunday saying overall sales of its commercial and passenger vehicles jumped 22 per cent year-on-year to 82,278 units in December 2011.
The stock ended with a gain of over 3 per cent.