THREE-WHEELER SPACE WITNESSES MIXED NUMBERS, TRACTOR SPACE REPORTS ROBUST YOY GROWTH
News: In the 3-W space, market leader Bajaj Auto's volume declined 9.3% MoM (primarily led by exports). However, M&M reported 21.1% sequential increase in sales volume at 3,645 units while Atul Auto posted 12.6% MoM growth at 1,794 units. TVS posted 4.2% MoM growth at 15,924 units. M&M's tractor sales jumped 47.7% YoY to 35,722 units, with Escorts growing 31.1% YoY to 8,421 units.
Views: The 3-W segment volumes witnessed double digit growth amid reopening of schools and colleges. However, volumes were muted at Bajaj Auto. Tractor segment performance was robust tracking healthy farm income and expectations of normal monsoon 2022.
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