Auto Sales Stay Strong: M&M, Bajaj Auto & Eicher Motors Top Picks Amid Robust Demand Outlook

India’s auto sector continues to post strong monthly sales, with passenger vehicles and two-wheelers delivering healthy double-digit growth despite margin pressures. Pankaj Pandey, Head of Research, ICICI Direct, believes demand remains robust, while easing raw material costs could support profitability in the coming quarters. He remains positive on four-wheeler leaders like M&M and Hyundai, while Bajaj Auto and Eicher Motors continue to stand out in the two-wheeler segment due to strong export demand and consistent volume growth.