December Auto Sales Check - In-Line Across Segments, Except Tractors: Motilal Oswal

BQ Blue’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 BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.Two-wheeler (excluding Bajaj Auto Ltd.) wholesales were above our low expectations, whereas the same for passenger vehicles/commercial vehicles/three-wheeler were in line. Tractor volumes were weak as original equipment manufacturers focus on correcting inventory. The recovery in PV wholesale dispatches continued in December 2021 due to easing of semiconductor shortages. Two-wheeler dispatches improved sequentially, while commercial vehicle demand has sustained. Among two-wheelers, Hero MotoCorp Ltd./Royal Enfield was above our estimate, while TVS Motor Company Ltd. was in line. Two-wheeler (excluding Bajaj Auto)/tractor volumes declined by ~9%/24% YoY, whereas passenger vehicle/three-wheeler volumes grew 6%/8% YoY. Commercial vehicle volumes (excluding Ashok Leyland Ltd.) were flat YoY..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint 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 BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

December Auto Sales Check - In-Line Across Segments, Except Tractors: Motilal Oswal

December Auto Sales Check - In-Line Across Segments, Except Tractors: Motilal Oswal

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