Emkay International expects private car (PV) trade progress at 15 per cent, with Tata Motors’ home volumes hovering 101 per cent and Mahindra & Mahindra’s 29 per cent on a low base, thanks provide points a year-ago. The brokerage pegs Maruti’s gross sales progress at 7 per cent.
Maruti Suzuki is seen to report an extra fall in market share to to 47.5 per cent in February in contrast with 49 per cent in December quarter and 53 per cent in February final 12 months, Nomura India mentioned.
In case of two-wheelers, Emkay expects a blended bag, with quantity progress for TVS possible at 9 per cent, Eicher Motors’ Royal Enfield’s at eight per cent and Bajaj Auto’s at four per cent. Hero MotoCorp is seen reporting a detrimental four per cent progress in gross sales.
Within the tractor phase, home volumes are seen rising 28 per cent for Mahindra & Mahindra and 27 per cent for Escorts. Within the industrial car phase, home industrial car volumes are anticipated to develop at 22 per cent for Ashok Leyland and 9 per cent for Tata Motors, whereas decline of 9 per cent for M&M attributable to provide points.
“MHCV demand has been bettering on robust Tipper/ICV demand and a gradual restoration in alternative demand as nicely,” Emkay mentioned.
Nomura India mentioned that its commodity value index is up 350 foundation factors in contrast with the December quarter for each private autos and two-wheelers. It famous that whereas auto costs elevated 2 per cent in January, they have been inadequate and margin pressures are more likely to be larger for auto corporations within the March quarter.
“M&M stays our prime decide within the sector attributable to its: larger rural publicity (the place restoration is quicker), initiatives to deal with capital allocation considerations, and engaging valuations. We additionally like Ashok Leyland, given the cyclical uptick in MHCV cycle. Amongst suppliers, we want Motherson Sumi, and Minda for his or her robust OE demand restoration and better content material per car,” Nomura India mentioned.