Auto stocks skid on weak Dec sales numbers; Nifty Auto index down nearly 2%

The Nifty Auto index declined as much as 1.8% to 9025.75 levels after the auto companies such as Eicher Motors, M&M and Tata Motors reported lower-than-expected auto sales numbers for December

The Nifty Auto index declined as much as 1.8 per cent to 9025.75 levels after the auto companies such as Eicher Motors, Mahindra and Mahindra, Tata Motors and Maruti Suzuki India reported lower-than-expected auto sales numbers for December.

In December 2018, liquidity crisis in the industry, higher interest rates and rising fuel costs continued to impact the commercial vehicle sales, with M&HCV and I&LCV segment witnessing a decline.
 
Eicher Motors has dipped 6 per cent to Rs 21,792 on the BSE after Royal Enfield (RE), the motorcycle franchise owned by the company, reported a 13 per cent year-on-year