Most of the frontline automobile stocks - Maruti Udyog, Mahindra & Mahindra, Hero Honda Motors, Tata Motors and Ashok Leyland are trading 1% higher on the bourses, after these companies reported robust sales numbers for the May month.
The BSE, Auto index is among the top sectoral gainers, appreciated 1% as compared to 0.39% rise in benchmark index Sensex.
Maruti Suzuki sold a total of 102,175 vehicles in May 2010, a rise of 29.92% against the prior year period. For the first time, the car market leader has sold over 100,000 units in month.
TVS Motor Company, total sales grew 30% in May 2010 to 154,667 units from 118,574 units in May 2009. Bajaj Auto reported a 62% jump in its motorcycle sales at 299,442 units in May, against 185,341 units in the same month last year.
Tata Motors and Mahindra & Mahindra had reported over 35% growth in sales during the month of May 2010 over the same month of previous year.