Best Auto Sector Stocks in 2024

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India’s auto industry bounced back strongly last year after demand and sales slumped during the peak period of the COVID-19 pandemic in 2021. 

Retail sales of two-wheelers grew by 9.5%, three-wheelers by 58.5%, cars and SUVs by 11%, tractors by 7%, buses and trucks by 8%, according to the industry body Federation of Automobile Dealers Associations. 

Infosys 

Maruti Suzuki India Ltd: 

Maruti is the local unit of Japan’s Suzuki Motor Corp. It began operating about 40 years ago and is now India’s biggest carmaker by number of vehicles sold.

Part of the diversified conglomerate Mahindra Group, M&M sells India’s most well-known SUVs such as the Scorpio, Bolero and Thar. M&M is also India’s biggest tractor maker.  

Mahindra & Mahindra: 

In addition, Tata Motors has been first off the block in introducing electric cars and controls more than 80% share of India’s fast-growing four-wheeler EV market. 

Tata Motors: 

The company is India’s No. 1 maker of two-wheelers with a market share of more than 45% and is also one of the world’s largest two-wheeler manufacturers. 

Hero MotoCorp: 

Pune-based Bajaj Auto is part of the Bajaj Group. One of India’s largest bike makers thanks to its popular Pulsar motorcycles 

Bajaj Auto:  

Chennai-based MRF is India’s largest tyre maker. It makes tyres of all types of vehicles including cars and SUVs, motorcycles, buses, trucks, tractors and off-road vehicles. 

MRF: 

This research serves educational and informational purposes only. It is not to be considered as a portfolio management service, basket recommendation, or investment advisory. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.