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Auto OEM’s will be releasing wholesale volume prints for the month of November 2022 today.
We expect 2-W space (especially commuter segment) to report healthy MoM growth (double digit) led by strong retails in the month of October 2022 and November 2022 (festive cheer supported by marriage season). PV space on the other hand is expected to report low single digit MoM growth in volumes on account of tapering of retail sales post festive, however supported by growing pending order book and easing of semi-conductor chip supplies. While CV space could witness high single digit MoM uptick amidst sustained retail prints and greater infrastructure push by the government. Tractor space is expected to report muted volume prints due to seasonality. Within OEMs we expect healthy volumes for Hero MotoCorp, Eicher Motors, Ashok Leyland & M&M.
Neutral