At the wholesale level, two-wheelers have seen double-digit growth in anticipation of the festive season. This is despite an apparently weak start. However, Bajaj Auto, TVS Motor, Hero MotoCorp, and Royal Enfield wholesales have all exceeded expectations as original equipment manufacturers (OEMs) anticipate a pickup in October 2024.
The two-wheeler numbers will need to be monitored closely since low momentum would trigger downgrades for stocks that have moved up in anticipation of outperformance.
Also, dispatches would crash if expectations are not met since there has been a big inventory buildup in anticipation.
Wholesale dispatches for Bajaj, TVS, Hero MotoCorp, and Royal Enfield grew 22 per cent, 22 per cent, 19 per cent and 11 per cent year-on-year (Y-o-Y), respectively to 400,500, 471,800, 637,000 and 87,000 units.
Export dispatches for Bajaj and TVS grew 13 per cent and 11 per cent Y-o-Y, respectively due to a rebound in Africa. Hero MotoCorp has indicated positive sentiment as the festive season started and crafted festive offers.
This story is from the October 04, 2024 edition of Business Standard.
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This story is from the October 04, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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