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ICICI Direct Report
September 2020 wholesale volumes for the auto original equipment manufacturer space were strong across the board.
The ongoing sequential improvement trend continued during the month, with the upcoming festive period (October-November) likely acting as a catalyst for higher dispatches.
Retail volume trends, while on the upswing, remain well below wholesale prints (ex-tractors), indicating inventory re-stocking at the dealer end in anticipation of healthy on-ground offtake in the coming weeks.
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