Quote on Automobile sales volume for June 2024 by Arun Agarwal, VP& Analyst - Fundamental Research, Kotak Securities
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Below the Quote on Automobile Sales Volume by Arun Agarwal, VP& Analyst - Fundamental Research, Kotak Securities
As per our estimates, domestic passenger vehicle industry wholesale volumes grew by low single digit yoy due to muted retail trends. In the passenger vehicle segment, Maruti Suzuki and M&M reported double-digit yoy volume growth. The domestic two-wheeler wholesale volumes were above our expectations. In the two-wheeler segment, Hero MotoCorp reported healthy double-digit increase in sales volume. Commercial vehicle segment performance remained weak and the segment saw yoy volume decline amid weakness in the MHCV segment. Domestic tractor volumes is expected to have grown by low single digit yoy in June 2024 possibly supported by increase in MSPs for kharif crops and inventory buildup. Rainfall in June 2024 was below the long-term average, and monsoon progression needs to be monitored.
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