Kotak Securities Ltd | Quote on Jan 2023 Auto volumes – Arun Agarwal – 2nd Feb 2023

Arun Agarwal, Vice President, Kotak Securities Ltd

“For the month of January 2023, the
passenger vehicle and the tractor industry witnessed healthy yoy growth in
volumes. The commercial vehicle segment witnessed some volume decline as compared
with December 2022. Volumes in the MHCV (medium & heavy commercial vehicle)
the segment continued with strong growth on a yoy basis. Two-wheeler industry
performance remained broadly weak. Domestic two-wheeler volume recovery has
been subdued. Two-wheeler exports continue to witness yoy decline in volumes.
Overall, the OEM’s reported a mixed set of wholesale numbers in January
2023.”