Domestic 3-W space continues to witness green shoots, tractor space reports healthy YoY growth
In the 3-W space, market leader Bajaj Auto is yet to report numbers while Atul Auto posted 15.6% MoM growth at 2,254 units. TVS posted a 5.3% MoM decline at 17,282 units (largely driven by exports). In the tractor segment, Escorts reported growth of 39% YoY at 12,232 units.
The 3-W segment continues to report consistent MoM improvement, albeit at a slower-than-expected pace. In the tractor space, volumes at Escorts were a positive surprise with the company most likely regaining its lost ground (market share) in the previous quarter.