Shares of Maruti Suzuki India today gained 2 per cent, while Mahindra and Mahindra rose 3.2 per cent on strong car sales.
Top four players in passenger car segment had registered double-digit volume growth in April.
“Narrowing gap between petrol-diesel fuel prices and increase in share of first-time buyers helped Maruti’s Mini segment register growth of 36 per cent off a weak base,’’ Jefferies said in a note.
“Moderating cost of ownership incentivised purchases of first-time buyers,’’ says Jefferies.
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.