-
MSIL's May-18 wholesales came in above our estimate at 172.5k units (+26% YoY, -0.3% MoM).
-
Domestic volumes grew 24.9% YoY to 163.2k (est. of 156.5k), led by growth in the UV (+13.4% YoY) and compact (+50.8% YoY) segments.
-
Growth in the compact segment was led by new Swift, Baleno and new Dzire, while that in UVs was led by Brezza and new S-cross.
-
Ciaz sales declined 14.8% YoY to 4k units (est. of 4.7k units).