June data shows a resounding comeback for India’s automotive industry, which had frozen in its track in May, now breathing some optimism into the markets.
- Maruti Suzuki sold 1.47 lakh cars in June, nearly 3x’ing its volumes in June compared to May
- Tata Motors saw a similar rebound, bit less enthusiastic, but a respectable 60% bump
- Other passenger car sellers looked great too — MG doubled volumes, Mahindra grew by 89%, all hinting at consistent consumer improvement
Meanwhile in the commercial segment as well the party was promising — with Ashok Leyland as well as Mahindra’s farm biz blasting 100%+ growth rates!
Big picture — cars clearing from lots is not just great for the auto stocks, but reads well for downstream financial services, suppliers of parts, service providers, while signaling some consumer strength.