Equity Analysis /
India

IN : Auto & Parts - Overall - Jun 2022 sales volume performance

    CGS-CIMB
    2 July 2022
    Published byCGS-CIMB

    MoM growth was led by CV makers, tractor makers (also seasonal) and Bajaj Auto which indicated higher semiconductor chip shortage last month. EV retail sales witnessed a 14% MoM recovery, after a MoM decline since Mar 2022, with recent E2W fire incidents dampening sentiment and production. Reiterate Overweight rating on the sector with a preference for OEMs over auto component makers.