Auto Sector Check - PV Sales To Pick-Up On Order Book, Low Inventory: Motilal Oswal
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Motilal Oswal Report
June 2021 was the first month post the lifting of state-wise lockdowns, with a number of markets open in varying proportion during the month.
Enquiry levels for passenger vehicles and tractors have improved faster than others, but were still below January-February 2021 levels for PVs.
Demand for two-wheelers has been affected since rural demand is still not forthcoming, unlike after the first wave, where rural areas were relatively less affected.
Our interaction with leading industry channel partners reflects a mixed sentiment of optimism and uncertainty.
Two-wheeler volumes are expected to remain weak, while PV demand is expected to recover faster on the back of personal mobility preference, supported by low inventory (10-20 days).
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