June Auto Sales Beat Estimates; Maruti Suzuki, Bajaj Auto Top ICICI Securities Picks
June auto wholesale volumes topped ICICI Securities estimates, boosted by GST-cut demand and a favourable base. Two-wheelers, PVs, CVs and tractors all grew. Maruti Suzuki, Bajaj Auto and Hero MotoCorp are named top OEM picks, with monsoon trends and price hikes flagged as key monitorables.
June auto wholesale volumes beat ICICI Securities estimates, aided by GST cut demand and favourable base. Two-wheelers, PVs, CVs and tractors grew. Maruti Suzuki, Bajaj Auto and Hero MotoCorp are top OEM picks; monsoon and price hikes remain monitorables.
Why this matters
Follows a 24% YoY jump in June domestic car sales on tax cuts and cheaper credit, reinforcing demand momentum as Maruti Suzuki prepares to inaugurate its ₹35,000 crore Kharkhoda plant.
Retail-company signals accelerating at +496300% QoQ.