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Nirmal Bang Report
Automobile sales continued their growth momentum in December 2020 on sustained retail momentum post festivals, low channel inventory and a soft base amid rise in preference for personal mobility and continued positive sentiments in rural and semi-urban markets.
Barring three-wheelers, most of the segments reported YoY volume growth.
We expect passenger vehicle dispatches to see strong growth on sustained retail demand owing to pending bookings, low channel inventory and a favorable base effect.
In case of two-wheelers, while favorable base supported the YoY growth, wholesales vis-a-vis retails suggests that some inventory correction was undertaken in December.
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