Auto, Auto Ancillary Q2 Preview - Subdued Results On Weak Volume Performance: Reliance Securities
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Reliance Securities Research Report
Domestic automobile industry delivered a subdued volume performance, with YoY decline in Q2 FY22 due to disruptions led by the second Covid-19 wave and chip shortages.
Though a steady ease in lockdown/curbs improved the automobile sales, semi-conductor shortages impacted the production and supply.
Incremental opening-up of economic activities, pent-up demand and improving sentiment across the country resulted in better sales towards start of the quarter.
Notably, the commercial vehicle and three-wheeler industry witnessed an improvement in sales volume, while two-wheelers remained laggards.
On the other hand, exports markets witnessed a sharp uptick in sales volume.
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