March 20, 2023

Maruti Suzuki and TaMo: Auto stocks under pressure after varied December sales

Auto stocks were under pressure on Tuesday after mixed December sales numbers. Maruti Suzuki, India’s largest carmaker, posted a 2.8% decline in sales, while Tata Motors saw a 4% increase.

Investors were disappointed by Maruti’s sales numbers, as the company had reported strong growth in the previous two months. Some analysts believe that the slowdown in sales could be due to the recent increase in prices of petrol and diesel.

Tata Motors’ sales were driven by its commercial vehicles business, which posted a 16% increase. However, sales of its passenger vehicles fell by 2%.

Overall, it was a mixed bag for auto stocks in December. While Maruti’s sales disappointed, Tata Motors’ numbers were better than expected.

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