The auto space is back in the game. The decline in major commodity prices has been fruitful and margins have already started to improve. Will the upcoming festive season be a game changer for the auto space?
In October, year-on-year auto sales in India declined by 8% due to the Shraddh period in the first half of the month. However, the Federation of Automobile Dealers Association (FADA) pointed out that this decline should not be a cause for concern, as sales increased by 13% from the previous month. Three-wheeler sales also reached a new high.
The auto space is back in the game after a very long time. The decline in major commodity prices has been fruitful and margins have already started to improve. Amid this positive environment, let s find out between Maruti Suzuki and M&M, which auto major is a better investment for the long term.
Maruti Suzuki India registered its highest-ever monthly sales in October, with 1,99,217 units sold, marking a 19% year-on-year growth. Domestic dispatches also reached a record high at 177,266 units, up 21% from the previous year. The company reported increased sales in various vehicle segments, with a notable 91% surge in utility vehicles.