Analysts from Goldman Sachs Group to Jefferies Financial Group Inc and Morgan Stanley have upgraded their recommendation for some local automakers in September.

Indian Auto Stocks are beating their Asian Peers This month by the widest margin in over a year, and analysts expect the Gains to Accelerate as Tax Cuts Boost Demand.

The nifty auto index is up 8.5 per cent this month, outpacing a 1 per cent gain for asian peers tracked by the bloomberg intelligence index and the 2.6 per cent advance in the main nese nifty 50 index. Analysts from Goldman Sachs Group to Jefferies Financial Group Inc and Morgan Stanley have upgraded their recommendation for some local automakers in September.

“We’re at the beginning of a new auto cycle and it typically lasts for a good 24 to 36 months,” said jimeet modi, Founder of Mumbai-Based Wealth Manager Samco Group. “The next leg will come on the numbers actually start flowing in.”

The government cut the goods and services tax on most passenger vehicles to 18 per cent from as high as 31 per cent, Making cars and motorcycles more Affordable for Millions of Consumors Ahead of India ‘ Season that began this week.

Maruti Suzuki India Ltd, India’s Larget Carmaker, Has Surged More Than 25 Per Kent Since August 15, when Prime Minister Narendra Modi first annouted the plan to Revamps The Consumption Tax Structure. The rally has pushed up the company’s market value to $ 57 billion, putting it close to global peers general motors co and mergedes-benz group ag.

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Published on September 24, 2025