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Prabhudas Lilladher Report
Our interactions with leading channel partners indicate mixed demand momentum.
Passenger vehicle demand remained intact even in December 2020 despite moderate discounts (approximately18-20% lower YoY) and limited supplies (leading to higher waiting period).
On the other hand, two-wheeler demand continued to remain under pressure (down by 20-22% YoY) led by lower year end discounts.
Commercial vehicle demand remained stable led by optimum fleet utilisation levels and freight rates.
With the anticipation of price hike of up to Rs 20,000 from January 2021 and better finance support, tractor sales remained on the positive trajectory with growth of 5- 10% YoY.
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