Auto Sales Numbers - October 2020 - Acuité Ratings & Research

Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research

"We continue to believe that higher demand expectations in the ongoing festive season, greater need to own personal vehicles and avoid public transportation along with higher rural incomes are driving growth in the domestic automotive sector at this point in time. MSL's (Maruti Suzuki) domestic volumes have grown by 19.8% YoY in Oct 2020 with 26.6% and 9.9% increase respectively in the compact car and the UV segment. The current strength in domestic PV demand is also reflected in the 13.2% volume growth reported by HMIL (Hyundai). The 2W market also continues to witness a buoyancy with the largest player, Hero Motocorp registering a 35% despatch growth, reflecting higher demand expectations due to personal mobility and a strong rural recovery."

Source : Equity Bulls

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