Waning Demand Set to Hit Breakneck Rally in India's Auto Stocks [Yahoo! Finance]
SUZUKI MOTOR CO UNSP/ADR (SZKMY)
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Source: Yahoo! Finance
(Bloomberg) -- A sizzling rally in India's auto shares is reversing as a build up of unsold vehicles and growing discounts by carmakers pressure profit margins. Most Read from Bloomberg Manchester Is Giving London a Run for Its Money Boston's Broke and Broken Transit System Hurts Downtown Recovery A Floating Island in Baltimore Raises Hope for a Waterfront Revival A Warehouse Store Promises Housing for South LA, in Bulk The Cross-Continental Race Using Only Public Transit India's NSE Nifty Auto Index is down 4.1% in August, more than double the decline in the Nifty 50 Index. Bellwether Maruti Suzuki India Ltd. has slid 6% so far in the month, on track for its worst monthly performance since December 2022. Passenger vehicle inventories have surged to historic highs of up to 72 days, the Federation of Automobile Dealers Association said last month. Waiting period for some models, once as long as 12 months a year ago, have nearly vanished, according to MRG Capital. Incre
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