Tushar Mahajan, Nomura Financial Advisory & Securities believes the trend for the market is definitely up and the Nifty is likely to touch levels of 6350 by year-end.
There is going to be election spending by government around January to March, there will be the wealth effect of the monsoon which will play out; these two things will ensure that there will be some revival in two-wheeler demand, says Pathik Gandotra of Dron Capital.
Nomura's auto analyst, Kapil Singh is positive on four-wheeler space and suggests avoiding two-wheeler space because demand for the industry has been slow.
SIAM has released auto sales numbers for January. Passenger car sales in the domestic market rose around 7% to 1.96 lakh units versus 1.82 lakh units in the same month last year, according to the data released today.