New Delhi, Dec 27 || The medium and heavy commercial vehicles (MHCVs) and tractor sales are likely to report better volumes in India this month as the festive season buying rush gets over, a report said on Friday.
Retail sales post-festive have moderated across two-wheelers (2Ws) and passenger vehicles (PVs), as per the report by Emkay Global Financial Services, citing Vahan data.
“We forecast 21,000 and 8,000 units of wholesale dispatches for Mahindra & Mahindra and Eicher, respectively, amid strong uptick during festive (driving benign channel inventory) and the ongoing improvement due to positive farm sentiment and cash flows,” the report maintained.
MHCVs are likely to report better volumes, with sequential improvement and controlled discounts, it added.
“We expect domestic MCHV volumes at 16,000/10,000 units for Tata Motors Limited/ Ashok Leyland, respectively. Overall commercial vehicle (CV) volumes for Tata Motors are expected at 30,000, and at 16,200 for Ashok Leyland,” according to Emkay Global report.
In the 2W segment, overall volumes are expected at 360,000 units for Hero MotoCorp (HMCL), 339,000 units for TVS Motor Co Ltd (TVSL) and 310,000 units for Bajaj Auto.