CITI ON INDIAN AUTOS

• 2W demand has been more resilient than expected. • Citi now expects FY27 industry volume growth of 9% YoY vs 7% earlier. • Earnings estimates raised for Hero MotoCorp, TVS Motor, Bajaj Auto and Eicher Motors. • Estimates also upgraded for Varroc and Endurance Technologies’ India business. • Healthy retail demand, new launches and improving rural trends remain supportive. • Citi stays cautious on margins due to elevated commodity costs and competitive intensity. • Eicher Motors remains the preferred 2W OEM; Endurance is the preferred auto ancillary pick.

Citichem India Limited

← Back to feed