BUCKLE UP FOR MARCH AUTO SALES! BAJAJ, TVS, MARUTI TAKE THE LEAD

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Auto Sales Outlook for March 2024

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Two-Wheeler and Passenger Vehicle Sales Momentum

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Wholesale Volume Growth Projections

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Preferred Buys in the Auto Sector

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Commercial Vehicle and Tractor Sales Scenario

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BUCKLE UP FOR MARCH AUTO SALES! BAJAJ, TVS, MARUTI TAKE THE LEAD

Auto Sales Outlook for March 2024

Bajaj Auto, TVS Motor, and Maruti Suzuki are poised to lead March's auto sales growth. However, due to various factors, commercial vehicles and tractors may see muted sales.

Two-Wheeler and Passenger Vehicle Sales Momentum

Two-wheeler and passenger vehicle sales are expected to maintain strong growth momentum in March, aided by rural demand recovery. However, entry-level vehicle sales continue to struggle.

Wholesale Volume Growth Projections

Analysts anticipate strong wholesale volume growth of 14-19% YoY for Bajaj Auto, Maruti Suzuki, and TVS Motor. Tata Motors and Eicher Motors are expected to see moderate growth, while Mahindra & Mahindra's volumes may remain flat.

TVS Motor Company and Eicher Motors are among Jefferies' preferred buys. Analysts at Motilal Oswal highlight sustained recovery in two-wheeler demand, with specific growth projections for key players.

Preferred Buys in the Auto Sector

Commercial vehicle sales are mixed, with light vehicles experiencing flat growth and heavy vehicles declining. Tractor sales are also affected by factors like higher base and monsoon season uncertainties.

Commercial Vehicle and Tractor Sales Scenario