Domestic 3-W space continues to witness green shoots, tractor space reports flat YoY growth
News: In the 3-W space, market leader Bajaj Auto reported volume growth of 16% MoM. M&M reported 10.2% sequential increase in sales volume at 4,793 units while Atul Auto posted 2.6% MoM growth at 1,950 units. TVS posted 21.8% MoM growth at 18,248 units. M&M's tractor sales were flat YoY to 21,520 units, with Escorts growth at 7.3% YoY at 6,111 units.
View: The 3-W segment volumes have recovered meaningfully with highest ever monthly volumes in last 1.5 years and signal a consistent uptrend. The tractor space, in contrast, continued to witness pressure amid muted farm sentiments & deficient rainfall in the eastern part of the country.