Auto Wholesale Demand Momentum Sustained For PVs, CVs, Tractors In February: Motilal Oswal 
Light trails created by vehicle traffic, including cars, trucks and vans travel on the 405 freeway at night (Photographer: Patrick T. Fallon/Bloomberg)  

Auto Wholesale Demand Momentum Sustained For PVs, CVs, Tractors In February: Motilal Oswal 

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Motilal Oswal Report

Demand momentum in January 2021 sustained in February-21 across segments.

Discounts were lower as Feb-20 had BS-VI transition-related discounts. Inventory is much lower than normal for passenger vehicles and tractors, leaving headroom to fill inventory in the coming months.

Wholesales are expected to grow for replenishing abnormally low inventory for PVs and tractors.

Our interaction with leading industry channel partners reflects optimism (excluding two-wheelers). Weak demand results in higher two-wheeler inventory (30-45 days).

However, PV inventory remains at minimal levels (less than 10 days), with a waiting period of 4-6 weeks in fast-selling models.

Medium and heavy commercial vehicles continue to grow on the back of strong demand from Infrastructure/construction.

Click on the attachment to read the full report:

Motilal Oswal Auto Sector Update.pdf


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