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Auto Stocks Plunge Up to 8% After September Sales; Bajaj Auto Leads Decline
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CNBC TV18•01-10-2026, 10:54
Auto Stocks Plunge Up to 8% After September Sales; Bajaj Auto Leads Decline
- •Auto stocks, including Bajaj Auto, Mahindra & Mahindra, and Escorts Kubota, fell up to 8% after releasing September sales figures.
- •Bajaj Auto shares dropped nearly 7.5% due to a 9% decline in domestic sales and exports falling below 2.5 lakh units for the first time in four months.
- •Mahindra & Mahindra's shares declined as tractor sales plummeted 21%, significantly more than the estimated 11% drop.
- •Force Motors saw strong sales, up over 50% from last year, marking its highest monthly sales since March, yet its shares traded with losses.
- •Hyundai Motor India bucked the trend, with its shares rising 1% after reporting an 11% growth in overall sales, exceeding expectations.
Key Questions Answered
Bajaj Auto shares declined due to weak sales figures, which included a 9% year-on-year drop in domestic sales and exports falling below the 2.5 lakh units mark for the first time in four months.
M&M shares fell 2.2% because tractor sales dropped 21% to 52,100 units, which was much higher than the estimated 11% decline, offsetting its overall sales growth.
Hyundai Motor India bucked the trend by rising as much as 1% after reporting an 11% overall growth in September sales compared to the previous year.
