Quote on July Auto Sales Numbers from By Saji John, Geojit Financial Services
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Below the quote on July Auto Sales Numbers from Saji John, Research analyst at Geojit Financial Services.
As expected, Maruti and M&M have posted strong double-digit growth, with UV continuing to drive sales. Whereas, Tata Motors has been under pressure for some time due to pre-buying in CV and supply constraints. On the other hand, we anticipate muted sales in the 2W segment. Over the past six months, the auto sector has shown better performance compared to the broader market, primarily due to the expected rural revival and the advantage of lower input costs. The current valuations are not in a favourable zone; however, we believe that companies possessing a robust product pipeline or a healthy order backlog are likely to outshine the market in the upcoming quarters. Our preferred choices within the sector include Maruti Suzuki, Mahindra & Mahindra, and Ashok Leyland.
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