Auto Sector - All Eyes On Festive Season; EVs, CNG Gaining Traction In Two-Wheeler, PV: Systematix
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Systematix Research Report
Our interactions with channel partners across different segments suggest that two-wheeler sales were 25% below the normal levels in June (though month-on-month improvement in July).
Enquiries for electric two-wheelers have increased with improved Faster Adoption and Manufacturing of Hybrid and Electric vehicle-II subsidies and as fuel prices continue to rise.
The demand is relatively better in the North due to the ongoing marriage season.
Demand for passenger vehicles is relatively better than two-wheelers with new launches/CNG variants enjoying a waiting period.
Most dealerships are still not fully operational (closed even on weekends) due to the local lockdowns - Tamil Nadu, Maharashtra, Kerala are more impacted.
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