Auto Sales In February - Healthy Growth Across Segments, Except CVs, Tractors: Motilal Oswal

Motilal Oswal Report

Overall February 2024 dispatches exceeded expectations for all segments, except tractors. Passenger vehicle wholesales grew 17% YoY, led by healthy demand in utility vehicles (up 39% YoY).

Two-wheeler domestic wholesales increased 21% YoY, while exports grew 36.5% YoY (+26% month-on-month), albeit on a low base for both categories. Commercial vehicle volumes remained flat YoY, with medium and heavy commercial vehicles down 6% YoY and light commercial vehicles up 5% YoY.

Tractor volumes declined 16% YoY due to weak sentiment in the agri sector. The recovery in the domestic two-wheeler segment should continue on the back of healthy demand and new launches focusing on premiumization.

Commercial vehicle demand is expected to pick up after elections as the government will continue to focus on infra related activities. Tractor demand would remain challenging in the near term.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit. 

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.