New Delhi, Oct. 30 -- The festive season in the October has brought mixed trends for India's automobile industry, with passenger vehicles (PVs) and tractors showing signs of improvement while two-wheelers (2Ws) continue to trail expectations, according to a report by Nomura.

The report estimates for October show that PV volumes are likely to rise by 3 per cent year-on-year, while medium and heavy commercial vehicles (MHCVs) remain stable with a 2 per cent growth. In contrast, tractors and two-wheelers are expected to decline by 6 per cent year-on-year each.

It stated "Festive improvement for tractors and PVs 2Ws trail below expectations, MHCVs stable"

The report highlighted that following the Goods and Services Tax (GST) cuts, demand h...