News: In 3-W, Bajaj Auto volumes grew 17.9% MoM to 48,312 units while M&M and Atul Auto posted 18.3%, 14.1% growth respectively. M&M's tractor sales were up 1% YoY to 47,017 units, with Escorts declined placed at 1.1% to 13,514 units.
Views: The 3-W recovery continued on a lower base, with further opening up of schools and offices along with improvement in financing climate key to sustained revival. Tractor performance is muted on high base of last year that had benefited from sharp post Covid pent up demand.
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