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Automobiles - Steady Performance Improvement, Backed By Gradual Rural Recovery: Reliance Securities

Automobiles - Steady Performance Improvement, Backed By Gradual Rural Recovery: Reliance Securities

<div class="paragraphs"><p>Evening shots of vehicles moving on a road. (Source: pxhere)</p></div>
Evening shots of vehicles moving on a road. (Source: pxhere)

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Reliance Securities Report

Indian automobile companies witnessed gradual improvement in sales performance sequentially, despite continued weakness in economy. Sector was earlier impacted by higher fuel prices, sharp increase in vehicle prices and lower business sentiment, while recent initiative by government to cut down fuel taxes improves consumer sentiment and their buying behavior.

It improved sequentially with better rural sentiment, healthy crops and improved realisation.

Urban has already recovered to greater extent in Q4 FY22 and continued positive momentum in Q1 FY23, boosting urban products like sports utility vehicles.

Click on the attachment to read the full report:

Reliance Securities Auto Sector Monthly Update.pdf

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