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ICICI Direct Report
Wholesale dispatches for March 2023 came in healthy, with double digit growth witnessed across original equipment manufacturers with medium and heavy commercial vehicle and two-wheeler space outperforming the rest of the pack amid flattish readings in the passenger vehicle domain.
The two-wheeler space reported healthy reading with Hero MotoCorp Ltd. handsomely outperforming its peers. Tractor space continues to surprise positively with market leader Mahindra and Mahindra Ltd. reporting healthy double digit YoY growth.
On a full year basis, all segments witnessed healthy double digit YoY growth with PV and tractor space, in particular, surpassing its previous peaks and closing at a new high.
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