Auto Stocks Surge 3% on Maruti Suzuki, M&M's Stellar December Sales

• Auto stocks climbed up to 3% on January 1st, driven by strong December sales reports from major automakers.
• Maruti Suzuki reported a 22% year-on-year rise in total December sales, reaching 2,17,854 units.
• Mahindra & Mahindra (M&M) saw a 25% year-on-year increase in December sales, totaling 86,090 units.
• The Nifty Auto index gained over 0.7%, extending its rally for the third consecutive session.
• Government tax cuts in September on SUVs and small cars likely contributed to the boosted demand.

Why It Matters: Strong December sales from Maruti Suzuki and M&M fueled a significant rally in auto stocks.