US Automotive sales increased by 11.5% in October wherein both Passenger cars and SUVs and trucks saw good growth.
And even the various European and UK markets are seeing double digit growth. Although in last concall Management highlighted that though Europe sales have recovered back but somehow Automakers are not optimistic on demand scenario but seems demand is coming back gradually.
YoY Growth in October
UK: 26%
Germany: 16.8%
Italy: 14.6%
Spain: 11.7%
While India is going through phenomenal ride as YoY sales has grown by 29% due to festive season.
Things start to look gloomy but would have to see if this trend persist as December is a holiday season in US and Europe so demand may go down.
Disc: Invested and tracking this story for long term
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