Automobiles & Auto Components share price target

The automobile industry’s overall retail sales rose 21.1% YoY in December 2023 to 19.9 lakh units. Two-wheeler and car retail sales also went up by 27.6% YoY to around 14.5 lakh units and 2.7% YoY to 2.9 lakh units, respectively.

All segments of the industry observed a YoY rise during this period.

Automobile wholesales of listed companies rose 7.8% YoY to 11.5 lakh units in December. Exports were up 5.4% YoY to 2,37,723 units.

Domestic two-wheeler wholesales of listed companies increased by 11% YoY to around 8.1 lakh units and passenger vehicles rose by 1.6% YoY to 1.8 lakh units.

Auto Sales Update

Passenger vehicle demand healthy across segments (UVs and compact cars) and is expected to continue

SIEM: Positive outlook continues; Maintain BUY. Automobiles: Auto channel check steady demand outlook

We hosted the management of two auto ancillary companies in our Nuvama Emerging Ideas Conference 2023,' namely CIE Automotive India (CIEINDIA) and SJS Enterprises (SJS).

Retail sales for the automobile industry reached a record high in November 2023, up 18.5% YoY to 28.5 lakh units. Two-wheeler retail sales increased by 21.1% YoY to around 22.5 lakh units, while car retail sales rose by 17.2% YoY to 3.6 lakh units.

All segments of the industry, except for CVs and tractors, observed a YoY rise during this period.