September auto sales cheered not only the industry but the equity market, too, as they also signal an improvement in the economy battered by the coronavirus outbreak.
The September numbers showed an encouraging uptick, thanks to positive sentiments across rural and semi-urban areas, a shift towards personal mobility and the expectations of a strong demand during the festival season.
Among the two-wheeler companies, Hero MotoCorp and Bajaj Auto saw their volumes growing 16.9 percent and 23.8 percent, respectively, from the year-ago period.
Eicher saw a growth of 3.7 percent, indicating that demand is picking up not only in the affordable segment but also in the premium category. TVS Motors, however, posted a decline of 0.5 percent in its monthly sales.
In the tractors segment, Escorts’ sales grew 8.9 percent from the year-ago period as they were