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Motilal Oswal Report
Motilal Oswal Financial Services noted that demand momentum across most automobile segments remained healthy in February, supported by a pickup in retail sales. The brokerage believes that inventory levels at OEMs are likely to remain lean despite an expected wholesale push in the fourth quarter.
A key trend highlighted by Motilal Oswal is the sharp recovery in demand for entry‑level vehicles across both two‑wheelers and passenger vehicles. With retail traction improving, the brokerage expects discounting in the passenger vehicle segment to gradually moderate going forward.
Within the auto OEM space, Motilal Oswal continues to prefer Maruti Suzuki India Ltd., Mahindra & Mahindra Ltd. and TVS Motor Company Ltd., which it has maintained as its top picks, citing their strong positioning amid improving demand conditions.
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