CAFE-III Norms: Citi Favours Maruti Suzuki, M&M, Hyundai; BofA Sees Tata Motors Best Placed
Citi and Bank of America assessed the CAFE-III norms, which clarify regulatory expectations for India's passenger vehicle sector. Citi favors Maruti Suzuki, Mahindra & Mahindra, and Hyundai, while BofA sees Tata Motors as well-positioned for compliance. The new rules will take effect from April 1, 2027, with stricter annual fuel-efficiency targets over five years.