November 08, 2019
We need to wait and watch whether amidst lots of discounts
With the bulk of the season yet to play out in October, next month’s data
assumes significance,†ICICI Securities said.84 per cent."The first phase of
festive season however lacked the spark. Going forward, in the short term,
festive season will be the main factor to look at.
Tractor sales are poised for
growth with festive season and good monsoon, said analysts. Mumbai: Auto stocks wheel
bearings Suppliers are buzzing and are on a path of recovery after the huge
price fall, as brokerages and analysts see a pick-up in automobile sales in the
second half of the financial year on the back festive season demand and good
monsoon rains.
Our channel checks suggest that dealers are sitting on low
inventory and expect good pick up in second half (H2) of the current financial
year, said Prashant.â€"Strong monsoons played a part in healthy tractor volumes.
Auto stocks are buzzing and are on a path of recovery after the huge price fall,
as brokerages and analysts see a pick-up in automobile sales in the second half
of the financial year on the back festive season demand and good monsoon rains.
A good monsoon, encouraging festive season, low base of last year’s second half
(H2) may lift up the sector,†said Ashwin Patil, Senior Research Analyst at LKP
Securities.24 per cent in September at 1,22,640 units, though the year-on-year
(YoY) sales for were down 24.
We need to wait and watch whether amidst lots of
discounts and a wide array of marketing gimmicks give some cheer to the auto
sector.. Tractor demand saw a good recovery post a strong monsoon 2019.September
sales showed a reversal of trend with month-on-month (MoM) sales picking up over
August.ICICI Securities, in a report, said, "September 2019 OEM dispatch volumes
showed a stark contrast between YoY and MoM trends. While last year’s high base,
elevated inventory levels (two wheeler & commercial vehicle) and meek demand
all continued to haunt yearly prints, a sequential improvement was seen across
segments particularly robust on the passenger vehicle side. Initial industry
commentary suggests the festive season has got off to a decent start.
Top seller
Maruti’s MoM sales were higher by 15.September sales showed a reversal of trend
with month-on-month (MoM) sales picking up over August."Better than expected
monsoon, better reservoir levels and expectation of increase in crop prices have
given some relief to tractor volumes, which ended on a flat note in September
2019,†said Sneha Prashant, Analyst — Auto, Centrum Institutional Research
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