Volume Picks Up In PVs, Two-Wheelers In August; CVs, Tractors Show Some Slack: Nirmal Bang


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Auto original equipment manufacturers in August 2022 saw YoY improvement across segments (except tractors) on a slightly lower base of August 2021.

On month-on-month basis, except Maruti Suzuki India Ltd., all two-wheeler, passenger vehicle and three wheeler OEMs posted positive growth as they geared up for the upcoming festival season by building up the stocks.

We believe that the month-on-month dip in Maruti Suzuki’s volume was largely due to the adverse impact on compressed natural gas vehicles post the steep price rise in natural gas.

Overall, passenger vehicles OEMs continued to witness strong growth momentum on the back of rising production levels and healthy order books.

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