Auto & Auto Ancillaries: Quarterly Results Preview (July-September 2015)

#hashtags: #India #Jun #Sep

Q2FY16 was characterized by stark contrast between urban and rural performance of the companies in our coverage universe. On the rural front, India received 14% below-normal rains in Jun-Sep period, lowest since 2009, and its impact on rural demand was seen in two wheeler and tractor volumes, which witnessed lacklustre rural demand as crop damage affected disposable rural incomes. Urban markets fared better, as was seen in the volume trend of passenger vehicles, which did well due to better sentiments...