India auto sales gain momentum in September but tractors lag: Jefferies
New Delhi, Sept. 30 -- India's automobile sector is expected to see broad-based growth in September, with passenger vehicles, two-wheelers and commercial vehicles recording strong sales momentum, while tractors are likely to lag behind, according to a Jefferies research report.
Vehicle registrations during the first 25 days of September rose 78 per cent year-on-year for passenger vehicles and 75 per cent for two-wheelers, while registrations of medium and heavy commercial vehicle trucks increased 53 per cent. Tractor registrations, in contrast, grew only 4 per cent during the period.
However, Jefferies said the sharp year-on-year growth partly reflects a favourable comparison with last year.
"YoY growth is boosted by a low base as Sep-...
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