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DRChoksey expects 9-11% YoY growth in domestic vehicle retail sales for Q3 FY26
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Passenger and commercial vehicles will lead growth, two-wheelers expected to remain flat
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Bajaj Auto and Tata Motors PV are preferred picks due to exports, premiumisation, and EVs
DRChoksey reiterates Bajaj Auto and Tata Motors PV as preferred plays, citing strong export momentum, premiumisation, and EV penetration. Both OEMs are well-positioned to benefit from improving demand visibility and supportive policy measures.
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DRChoksey Report
The Indian automobile industry is set for a robust Q3 FY26 performance, supported by festive season momentum, GST rationalization, and improving rural demand.
According to DRChoksey, overall domestic vehicle retail sales are expected to grow 9–11% YoY, led by passenger vehicles and commercial vehicles, while two-wheelers remain flat due to post-festive normalisation.
Top Picks:
DRChoksey reiterates Bajaj Auto and Tata Motors PV as preferred plays, citing strong export momentum, premiumisation, and EV penetration. Both OEMs are well-positioned to benefit from improving demand visibility and supportive policy measures.
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