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Auto Sector Check - PV Sales To Pick-Up On Order Book, Low Inventory: Motilal Oswal

Auto Sector Check - PV Sales To Pick-Up On Order Book, Low Inventory: Motilal Oswal

<div class="paragraphs"><p>  A sales person, center, sits talking with customers inside the Prabhadevi Concorde Motors India. (Photographer: Dhiraj Singh/Bloomberg)</p></div>
A sales person, center, sits talking with customers inside the Prabhadevi Concorde Motors India. (Photographer: Dhiraj Singh/Bloomberg)

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.

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).

Click on the attachment to read the full report:

Motilal Oswal Auto Sector Update.pdf

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