September Auto Sales: Festive Momentum, Uneven Gears

Indian car dispatches were estimated to rise 21% year on year to 4.60 lakh units in September, up from 3.78 lakh a year earlier, as automakers built dealer stocks ahead of the festive period. That is a strong opening note for the season—but dispatches measure vehicles sent to dealers, not confirmed retail purchases. If showroom demand keeps pace, carmakers have room to turn festive optimism into sales.

The Bear Case

The broader picture has some potholes: **Bajaj Auto’s...