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ICICI Direct Report
Daily vehicle registrations averaged approximately 50,000 units i.e. approximately 62% of pre-Covid levels during the week of July 13 to16, marginally ahead of the run rate seen in the prior week (Andhra Pradesh, Madhya Pradesh and Telangana are non-Vahan states) They combined form approximately 15% of auto volumes and approximately 20% of tractor volumes.
E-Way bill generation for first half of July (till July 13) continued its momentum on a strong note reaching 1.7 crore. If we extrapolate this and compare it to the average bill generation in months prior to Covid-19 (October 2019-February 2020), it has reached approximately 80% of the average 5.5 crore bills. E-Way bill generation for April, May and June hovered at 16%, 46% and 79%, respectively
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