Quote on Auto Sector Wholesale volume performance in August 2025 by Arun Agarwal, VP-Fundamental Research, Kotak Securities
Below the Quote on Auto Sector Wholesale volume performance in August 2025 by Arun Agarwal, VP-Fundamental Research, Kotak Securities
Auto OEM’s wholesale performance remained mixed led by retail demand trends and channel inventory adjustment ahead of anticipated GST rate cuts. Retail trends were broadly soft as customers deferred their purchases to take advantage of potential GST cuts. The domestic two-wheeler wholesale volumes grew in double-digits, led by continued momentum in the scooter segment and recovery in the motorcycle segment. TVS Motors and Royal Enfield posted strong volume growth in August 2025. The domestic passenger vehicle industry wholesale volumes is expected to have declined in single digits yoy on account of muted demand trends and inventory correction ahead of expected GST rate cut. Most of the top passenger vehicle players reported decline in volumes. The domestic commercial vehicle segment reported single-digit volume growth in August 2025, partly because of a favorable base. Supported by normal monsoon, the domestic tractor segment demand remained strong with M&M and Escorts posting high volume growth. The exports remained strong across segments.
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