Auto Volumes Check - Pandemic Results In Washout Month: ICICI Direct
Light trails from passing traffic in New Delhi. (Photographer: Anindito Mukherjee/Bloomberg)

Auto Volumes Check - Pandemic Results In Washout Month: ICICI Direct

Bookmark

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

May 2021 was a washout month for the domestic auto industry, with the sharp spike in Covid-19 cases taking a toll on economic activity amid localised lockdowns pan India.

Plant shutdowns undertaken by original equipment manufacturers along with supply chain challenges (particularly in relation to global semiconductor shortage) and only partial functioning of dealerships combined to result in a steep double-digit sequential decline across players and segments.

It is worthwhile to note, however, that month-on-month comparison is not entirely meaningful on account of the difficult circumstances.

Click on the attachment to read the full report:

ICICI Direct Monthly Auto Volumes June 2021.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.