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Thursday, 6 October 2011

Angel Broking has come out with its report on automobile space

Automobile sales witnessed strong growth in September 2011, with dealers stocking up inventories ahead of the festive season. Demand for two-wheelers and tractors remained robust during the month, helping Hero MotoCorp (HMCL), Bajaj Auto (BAL), TVS Motor (TVS) and Mahindra and Mahindra (M&M) report their highest-ever monthly volumes. The light commercial vehicle (LCV) segment also sustained its impressive growth performance. Passenger car (PC) volumes, however, grew at a slightly lower pace as growth was restricted due to the strike at Maruti’s Manesar facility. Growth in the PC segment continues to be driven by new model launches and higher discounts. Going ahead, we expect the two-wheeler segment to sustain its volume momentum; however, demand in the passenger vehicle (PV) segment is likely to taper off post the festive season.Vcommindia News

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