- The Indian automobile sector is set to rebound after a historic six months of slowdown.
- India’s largest two-wheeler manufacturer HeroMoto Corp is slated to see a 5% growth compared to the same month last year, according to brokerage Nirmal Bang.
- Here’s what Nirmal Bang analysts expect from Maruti Suzuki and M&M to Hero MotoCorp and Bajaj Auto in monthly auto sales in August.
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Two-wheelers segment is expected to see a faster and quicker recovery on the back of further ramp-up in supply chains, thriving rural sentiments and rise in personal mobility needs. India’s largest two-wheeler manufacturer HeroMoto Corp is slated to see a 5% growth compared to the same month last year.
Auto manufacturers are now betting on the festive season to see the demand normalisation for cars after a six months of slowdown. A report from Nirmal Bang brokerages suggests that “the retail sales have improved sequentially on account of relatively higher demand from festive markets like Kerala and Maharashtra. Wholesales are expected to be higher than retail sales as OEMs fill the channel to build up inventory for the festive season, which remains substantially lower than normal level.”
However, the analysts still believe that the need for commercial vehicles “will remain dull (likely to increase sequentially though) as it remains the worst affected segment due to economic slowdown, excess capacity and limited driver availability.”
Here’s what Nirmal Bang analysts expect from Maruti Suzuki and M&M to Hero MotoCorp and Bajaj Auto in monthly auto sales in August:
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