2025-01-29 09:12:12 am | Source: Motilal Oswal Financial Services Ltd
Buy Hyundai Motor Ltd For Target Rs. 2,170 by Motilal Oswal Financial Services Ltd
* Hyundai posted 2% YoY decline in volumes in 3Q. We expect ASP to decline by 1% due to adverse mix (lower Creta). As a result, we expect revenue decline of 1.7% YoY in 3Q.
* Led by weaker mix and expected higher discounts QoQ, we expect margins to decline 50bp QoQ to 12.3%.
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