Gold Silver Reports (GSR) – Auto Sales: Expectations For March — Indian automobile makers are expected to end the financial year 2018 with a bang. That’s according to a BloombergQuint poll of two brokerage houses, which suggest double-digit sales growth in March for all segments, be it commercial vehicles or two-wheelers.
Most interaction with the leading channel partners indicates strong demand momentum across segments in March, Jinesh Gandhi, analyst at Motilal Oswal wrote in a report.
Sales across the country — especially in the north and west region — gained traction in the previous two months aided by festive season demand and improving rural sentiment on rising income and government spending.
The medium and heavy commercial vehicle industry is also likely to sustain strong around 15 percent year-on-year growth, Nomura Analyst Kapil Singh said in a research note. “It could have been much higher if not for capacity constraints.”
