AUTOMOBILES: Diverging trends in Mar’19 wholesales; MSIL exceeds estimates, but RE volumes fall short
Mar’19 auto wholesales were a mixed bag. PV volumes remained weak (-0.7% YoY) for yet another month, although some names benefitted from new product launches. CV volumes declined 0.5% YoY, with growth in LCVs (+2.1% YoY) more than offset by a decline (-2.5% YoY) in M&HCV volumes. Tractor volume growth decelerated to 21.5% YoY (+20.5% MoM) off a high base; muted farm sentiment in key markets too acted as a major speed-breaker.
Key highlights from Mar'19 wholesales data (including exports):
Motilal Oswal Financial Services Ltd. is a reputed name in Financial Services and Online Trading with group companies providing services such as Private Wealth Management, Retail Broking and Distribution, Institutional Broking, Asset Management, Investment Banking, Private Equity, Commodity Broking, Currency Broking, Principal Strategies & Home Finance.
Motilal Oswal Securities is a group company of Motilal Oswal Financial Service Limited which started as a stock trading company and has blossomed into well diversified firm offering a range of financial products and services. Motilal Oswal has built a reputation as the source for best stock trading company and this has taken a wealth of experience, knowledge and expertise, constantly working in tandem, over the years.
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