Things look interesting for M&M moving ahead
From a PV front, encouraging signs include
- Healthy YOY growth in sales of all models (latest BSE update yesterday)
- A very good start for the new Thar, it has already sold 25% of the quantities of high sellers like XUV 300 and Scorpio (sales in June 2021)
- Yesterday the company announced the launch of the Bolero Neo (though a renamed TUV facelift) - Bolero is a high seller, top selling car for them in June 2021
- new XUV 700 and Scorpio slated for launches in 2021 and 2022 respectively
Additionally, the article above talk about uplift in tractor demand, and sales trends look healthy for the CV business as well as per the latest update.
Additionally, large structurally tough areas could be towards the fag end, from the Ssangyong issues, to the BS6 transition, RM costs and the brutal CV cycle.
Would be interesting to see if the company now starts increasing sales at good margins moving ahead - and could this be a start of a new positive period with a good refreshed range of products as well as growth over historically low base.
Discl : Invested, added in last 30 days