Synopsis For the month, Maruti Suzuki reported 19 per cent YoY decline in domestic PV volume, but the underlying demand remains strong, along with high outstanding bookings and a lean inventory. Related Three factors that will drive Tata Motors after nearly 180% rally in 2021 Maruti Suzuki to raise prices in January 2022 Street sore at Ashok Leyland's subpar show Possible turnaround? 7 stocks with up to 39% upside in next 12 months NEW DELHI: November saw weak dispatches by automakers — as was the case last month — but the demand outlook remained reasonable, at least for personal vehicles (PV) and commercial vehicles (CV) makers. Analysts differed on stock picks but largely maintained their positive outlook on the sector. Arun Agarwal of Kotak Securities said auto sales in November were impacted by chip shortages in passenger vehicles, light commercial vehicles, and the domestic premium motorcycle segment. “The passenger vehicle segment saw healthy inquiries and booking in the festive season and, thereby, volumes in this segment are expected to improve once the chip shortage situation gets resolved. In the commercial vehicle space, the medium and heavy commercial vehicle segments continued their gradual recovery supported by improved fleet utilisation levels. The… Read full this story
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