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Auto Stocks Plummet as Weak September Sales Hit Bajaj Auto, M&M; Hyundai Defies Trend
M
Moneycontrol•01-10-2026, 11:24
Auto Stocks Plummet as Weak September Sales Hit Bajaj Auto, M&M; Hyundai Defies Trend
- •Auto stocks experienced significant selling pressure on October 1 after September sales figures from several automakers, including Bajaj Auto and Mahindra & Mahindra (M&M), fell short of expectations, dragging the Nifty Auto index down over 3 percent.
- •Bajaj Auto shares tumbled nearly 8 percent after its September sales of 5.38 lakh units missed the CNBC-TV18 poll estimate of 5.79 lakh units, despite a 5 percent year-on-year increase in total sales.
- •M&M's shares fell 2.6 percent as its total September sales of 1.15 lakh units were slightly below estimates, with tractor sales seeing a sharper 21 percent year-on-year decline.
- •Other major auto stocks like Eicher Motors, Maruti Suzuki, and Tata Motors Passenger Vehicles also saw declines, contributing to the Nifty Auto index being the worst-performing sectoral index.
- •Hyundai Motor India bucked the trend, rising 1.2 percent after reporting total September sales of 77,916 units, exceeding the CNBC-TV18 poll estimate of 74,000 units and showing a 10.8 percent year-on-year increase.
Key Questions Answered
The Nifty Auto index dropped 3.15 percent as several automakers reported September sales numbers that fell short of market expectations, triggering heavy selling pressure across the sector.
Bajaj Auto shares fell nearly 8 percent to Rs 10,021 on the Nifty 50 after selling 5.38 lakh units in September, which missed the CNBC-TV18 poll estimate of 5.79 lakh units.
Hyundai Motor India bucked the downward trend and rose 1.2 percent to Rs 2,055 after reporting total September sales of 77,916 units, which exceeded expectations.
