Auto Volume Monthly Check - Covid-19 Resurgence Takes Toll On Wholesale Dispatches: ICICI Direct
Vehicles travel along a road during rush hour at night in Manila, the Philippines (Photographer: Veejay Villafranca/Bloomberg)  

Auto Volume Monthly Check - Covid-19 Resurgence Takes Toll On Wholesale Dispatches: ICICI Direct

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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 Direct Report

Healthy sequential growth momentum being witnessed in the auto space over the past few months halted in April 2021, as the resurgent pandemic took a toll on original equipment manufacturer sales.

With several states under lockdown and retail offtake outlook impacted for the near term, dispatches fell away by double digits across most players and segments.

Several OEMs have announced partial closure of manufacturing operations for May, thereby indicating that similar subdued performance will be in the offing this month as well.

Given that April 2020 was lost completely to the nationwide lockdown, YoY comparison is redundant.

Click on the attachment to read the full report:

ICICI Direct Monthly Auto Volumes Update.pdf

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