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Motilal Oswal stays bullish on auto stocks ahead of festive season

The broker cited a 20.4% year-on-year rise in August 2026 car volumes and said Maruti Suzuki and Honda were key outperformers.

Reported · Written up by our desk · Asia

Motilal Oswal remains bullish on original equipment manufacturer auto stocks, including Maruti Suzuki, TVS Motor, and M&M, pointing to an inventory push ahead of the upcoming Diwali, Dussehra, and Navratri festive period, which it expects to lift two-wheeler and four-wheeler volumes.

In its view, scooter sales are driving growth in the two-wheeler segment, with Honda Motorcycles and Scooter India noted as having underperformed, while TVS Motor continued to gain.

For cars, the firm said car volumes increased by 20.4% in August 2026, with Maruti Suzuki, Hyundai Motor India, and Honda among the top performers.

It added that key outperformers included MSIL up 29.4%, HMIL up 29.8%, and Honda up 84%, and that MSIL’s market share rose by about 665 basis points to 72.9%, while Hyundai’s market share edged down to 12.2% on a year-to-date basis.

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