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Two-wheelers may race ahead in 2024
Mint Mumbai
|January 03, 2024
The Nifty Auto index gained considerably in 2023, emerging as the second-best performer among sectoral indices, rising nearly 48% vis-à-vis the Nifty 50 index's 20% gains.
Investors were upbeat about volume growth, latest launches, and the resilient margin show put up by original equipment manufacturers (OEM).
In particular, the two-wheeler segment saw improving prospects, with some companies ending the year on a high note.
While volume lagged expectations, the segment continued to lead the automobile pack in December. Bajaj Auto Ltd's and TVS Motor Co. Ltd's two-wheeler wholesale volumes clocked about 15% and 27% year-on-year growth, respectively.
On the other hand, Hero MotoCorp Ltd disappointed with flattish volumes in December, falling short of growth expectations. However, with increased government spending, encouraging farm activity, improved liquidity, and the upcoming wedding season, Hero expects a positive momentum to build up from the March quarter onwards.
Denne historien er fra January 03, 2024-utgaven av Mint Mumbai.
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