Auto Retails Slip In January As Mobility Data Weakens: ICICI Securities
Vehicles travel along a highway in an aerial photograph taken in Delhi, India. (Photographer Anindito Mukherjee/Bloomberg)

Auto Retails Slip In January As Mobility Data Weakens: 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 points have a lead-lag effect.

Key takeaways for January 2021 -

1. Mobility data improvement trends are moderating globally with some regions being more effected than others (e.g. Europe); India too witnessed deterioration in mobility trends in most regions with Eastern states dropping fastest (e.g. West Bengal, Odisha) while Southern states was the only region which had an improvement (e.g. Andhra Pradesh, Tamil Nadu); and

2. on domestic retail demand trends, demand for both passenger vehicles (down ~6% YoY) and two-wheelers was weak (down ~10%) owing to weakness in consumer sentiment in the mass market segments.

Click on the attachment to read the full report:

ICICI Securities Auto Retail Demand and Mobility report_Feb21.pdf

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