Auto Industry Update - Retails, Mobility Data Slump Amid Covid-19 Resurgence: ICICI Securities

Vehicles sitting in traffic are reflected in the wing mirror of a taxi during the morning rush hour in Mumbai, India (Photographer: Vivek Prakash/Bloomberg)

Auto Industry Update - Retails, Mobility Data Slump Amid Covid-19 Resurgence: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

In continuation to our monthly series, we are monitoring mobility and retail demand trends as we believe both these data sets have a lead-lag effect.

For April-May 2021, the data makes more sense on month-on-month basis due to negligible base in FY20.

Key takeaways for April 2021:

1. global mobility data trends remain on the upward trajectory across regions post Covid-19 (e.g. UK, Italy, U.S.); however, India mobility data nosedived due to Covid-induced lockdowns in states (e.g. Karnataka, Delhi, West Bengal);

2. overall, Eastern and Southern states were most impacted (~50% decline in mobility data), while drop in Western and Northern states were relatively better ~35-40% ; and

3. in domestic retails, passenger vehicle segment declined 59% month-on-month while two-wheeler fell 53% month-on-month impacted due to lockdowns.

Click on the attachment to read the full report:

ICICI Securities Auto_Mobility Report.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.