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ICICI Securities Report
In continuation to our mobility series, we are monitoring mobility and retail demand trends as we believe both these data points have a lead lag effect.
Key takeaways for December 2020 -
1. Mobility data improvement trends are stalling globally with some regions being more effected that others (e.g. Europe); India witnessed improvement in mobility trends in most states, with Eastern regions leading while South still remains a laggard (e.g. Telangana, Karnataka);
2. on domestic retail demand trends, demand for passenger vehicles (up approximately 23% YoY) have outpaced two-wheelers (up ~11%) owing to favourable base effect (BS-VI transition impact in December 2019).
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