Kapil Singh, auto analyst at Nomura told CNBC-TV18, "We have been avoiding two-wheeler space. We have been more positive on four-wheeler space. The reason is that demand for the industry has been slow and in that environment Honda has been aggressive and will continue to remain aggressive this year."
"If that is the case then more of incremental demand might go to Honda and that will pose pressure both on volumes and margins of incumbents. Therefore, investors should still continue to avoid," Singh said.
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