Auto 3QFY17E Results
Jan 13, 2017 | 14:58 PM IST
Jan 13, 2017 | 14:58 PM IST
3QFY17 expected to be a weak quarter for auto companies impacted by demonetisation. Although demonetisation hit across automobile sector, the impact on 2W(-4% YoY) & 3W(-19% YoY) was particularly hard owing to disruption in rural demand. The CV space was impacted, as the working capital of fleet operators is largely cash based in nature. However, surprisingly, CV volumes largely remained flat, +0.6% YoY. On the other hand, PV sales remained strong (+5% YoY) driven by high waiting period models like Vitara Brezza, Baleno, Fortuner, Kwid and Tiago. Read More>>
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