Auto demand stays strong across PVs, CVs, tractors and EVs but OEM margins face H1 FY27 squeeze
Antique Stock Broking sees resilient Indian auto demand—PV wholesales +23% YoY in Q1FY27, CVs +20%, tractors +19%—but flags margin pressure through H1FY27 before normalising. Tata Motors (+69%), M&M (+33.5%) and Maruti (+21%) lead June wholesales; TVS tops e-2W share at 24% as Ola Electric slips to 8% from 19%.
Antique Stock Broking sees resilient Indian auto demand across PVs, CVs, tractors and EVs, but OEM margins pressured in H1FY27 before normalising. Tata Motors, M&M and Maruti lead June wholesales; TVS tops e-2W share as Ola Electric slips.