3-W sales hold steady while high base continues to impact growth in tractor space
News: In 3-W space, with market leader (Bajaj Auto) yet to announce numbers, M&M reported 3.3% sequential decline in sales at 2,480 units while Atul Auto posted 25.2% MoM growth at 1,683 units. M&M's tractor sales declined 18.5% YoY to 18,269 units, with Escorts decline placed at 39% YoY to 4,695 units.
Views: The 3-W space volumes may cool off in the near term with rising Covid-19 incidence pan India and resurfacing of public transport usage concerns. Tractor performance was on expected lines and was largely muted tracking high base of last year that had benefited from sharp post Covid pent up demand.
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