CVs and PVs post a decent show; 2Ws remain sluggish :: HDFC Securities

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CVs and PVs post a decent show; 2Ws remain sluggish Auto sales for the month of Jan-15 saw mixed bag performance across segments. The impact of price hikes on account of reversal in the concessional excise duty rate was most apparent in 2Ws, followed by PVs and then CVs. Auto makers are hoping for the government to announce big-ticket reforms in the upcoming union budget to revive the consumer sentiment. We continue to prefer Hero Motocorp and Tata Motors as our top-picks in the Auto space.
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