Auto Sales In June 2024 - Wholesales Remain A Mixed Bag: Motilal Oswal

"NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.In two-wheelers, while Hero MotoCorp Ltd.’s numbers were ahead of our estimates, TVS Motor Ltd./Bajaj Auto Ltd./Royal Enfield’s numbers remained in line. In passenger vehicles, while domestic dispatches of Maruti Suzuki India Ltd./Mahindra and Mahindra Ltd. were in line, exports of Maruti Suzuki surprised. Tata Motors Ltd. disappointed as the company focused on lean channel inventory against the backdrop of weak retail sales. In commerical vehicels, both Tata Motors and Ashok Leyland’s wholesales remained in line and declined by a single digit YoY, while VECV surprised with double-digit YoY growth. The CV industry’s demand held up well in Q1 FY25, and we continue to expect the industry to post mid-single-digit growth for FY25. In tractors, both M&M and Escorts Kubota Ltd.’s sales were ahead of estimates, with the progress of monsoon being the key monitorable. We expect PVs and CVs to post 6% volume CAGR each over FY24-26. We anticipate the two-wheeler industry to clock a 9% volume CAGR during the same period. In Auto OEMs, Maruti Suzuki and Ashok Leyland are our top picks..Click on the attachment to read the full report:.Auto Sales In June 2024 Live: Tata Motors Down 8%, Maruti Suzuki Up 12%.DISCLAIMERThis 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."

Auto Sales In June 2024 - Wholesales Remain A Mixed Bag: Motilal Oswal

Tractor wholesales outshine despite weak retails

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Auto Sales In June 2024 - Wholesales Remain A Mixed Bag: Motilal Oswal

Tractor wholesales outshine despite weak retails

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