15% growth forecasted in Indian auto market during festive season, driven by rural demand and 2W segment.

Nuvama Wealth Investment Limited forecasts a 15% growth in the Indian automobile market during the festive season, driven by rising inquiries and rural demand, particularly in the two-wheeler (2W) segment. Mass-market OEMs like TVS Motors and Hero MotoCorp are expected to benefit, while premium brands may see slower growth. Utility vehicle sales are predicted to rise significantly, and dealers have increased inventories in anticipation of strong demand. Long-term prospects for 2Ws and tractors remain positive.

September 11, 2024
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