Indian automakers delivered a strong performance across segments in June 2026, as healthy retail demand boosted sales, with brokerages highlighting that commercial vehicle wholesales strongly beat estimates.Motilal Oswal Financial Services, in its note, highlighted that retail demand momentum remained healthy for passenger vehicles and tractors in June, while two-wheelers saw a revival after a tepid performance in May. Commercial vehicle retail, on the other hand, was relatively soft due to the ongoing geopolitical conditions. However, wholesale sales for the month came in strong, beating our estimates across the board. “The three listed players posted a healthy 31.3% YoY growth in June 2026, primarily over a low base of last year. TMCV continued to outperform its peers and drive industry growth, posting around 35% YoY growth in CV sales to nearly 41k units, ahead of our estimate of 34k units,” it said.“Overall, most segments posted healthy double-digit growth in wholesales,” it said, noting that Mahindra & Mahindra (M&M) and Tata Motors PV outperformed in the PV segment, while Hyundai Motor India underperformed and Maruti Suzuki India grew in line with industry growth.Motilal Oswal's top auto picksCV retails remained relatively subdued, though the top three CV OEMs posted strong 31% YoY growth in dispatches, mainly due to the inventory push in the system, Motilal said, adding that tractor demand remained steady (+13.5% YoY for the two listed players) despite ongoing concerns. “Overall, given the stable demand momentum and easing input cost pressure, we expect renewed investor interest in the sector in the coming quarters,” it said.The domestic brokerage named Maruti Suzuki India, TVS Motor Company and Mahindra & Mahindra (M&M) as its top OEM picks. Among auto ancillaries, its top picks are Motherson Sumi Wiring India, Samvardhana Motherson International and Endurance.Also read: Major automakers record strong June sales on steady domestic demand, rising exportsEmkay’s top auto picksAnalysts at Emkay Global also highlighted that auto pack delivered strong performance in June 2026, with growth momentum rebounding across segments and players (also reflected in Vahan retail volumes). In two-wheeler dispatches, Eicher Motors outpaced Hero MotoCorp, while the two-wheeler industry retail momentum returned to 21% YoY with robust growth across the pack.Passenger vehicles also saw strong growth across OEMs, barring Hyundai, whose June volumes were hit by the fire incident at a key supplier’s facility, Emkay noted. Tata Motors Passenger Vehicles led the strong growth among PVs.Amid a strong rebound in underlying demand, Emkay favours two-wheelers or CV OEMs over PVs, due to a similar demand trajectory, albeit with better pricing flexibility amid commodity pressures and a limited new model launch pipeline in FY27 (historically a key growth driver for PVs). In two-wheelers, it favours TVS Motor Company and Ather Energy on a structural basis, and Bajaj Auto, as it offers a better risk-reward.“We prefer to play the CV upcycle with Tata Motors CV,” it further said, adding that in ancillaries, it favours Shriram Pistons, Craftsman Automation, JK Tyre and Pricol.Also read: Domestic car sales surge in June on tax cuts, lower interest rates & strong demandICICI Securities’ top auto picksICICI Securities also noted that June 2026 wholesale volumes remained robust and broadly ahead of its estimates. “GST cut-fuelled demand momentum, coupled with a favourable base, continues to underpin the auto sector’s growth. Within 2Ws, scooters and premium motorcycles drove overall segment growth. PV wholesales expanded in double digits, led by strong traction across domestic PCs/UVs and low channel inventory. In CVs, growth was broad-based across MHCVs and LCVs (ahead of our estimates).The tractor segment’s growth trajectory remained robust (ahead of our estimates). Demand sustainability amid the recent vehicle/fuel price hike(s), along with the potential impact of a below-average monsoon (especially on the tractor segment), remains a monitorable,” it said.Its preferred auto picks are Hyundai Motor India, Maruti Suzuki India and Bajaj Auto.Also read: Growth engine revving as GST, auto sales rise despite global roadblocks(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)