Auto Wholesale Positivity Continues In February: ICICI Direct 
Motorcyclists travel along a road in Udaipur, Rajasthan, India. (Photographer Prashanth Vishwanathan/Bloomberg)

Auto Wholesale Positivity Continues In February: ICICI Direct 


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

General positivity in wholesale auto original equipment manufacturer volumes was sustained during February 2021, barring isolated exceptions.

On the whole, broad trends observed were -

  1. decent month-on-month uptick for most companies across segments,
  2. continuance of urban catch-up vis-a-vis rural and
  3. further momentum in fledgeling commercial vehicle revival.

In the two-wheeler pack, market leader Hero MotoCorp Ltd. remained an underperformer (1.5% YoY growth to 5.05 lakh units, including 3.3% motorcycle dip and 120% jump in scooters).

Passenger vehicle bellwether Maruti Suzuki India Ltd.’s volumes grew 10.3% YoY to 1.62 lakh units, accompanied by further product mix improvement (utility vehicle up ~19% versus mini and compact growth of 7.3%).

Click on the attachment to read the full report:

ICICI Direct Monthly Auto Volumes.pdf


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