Automobiles Industry Update - Retail Sales Surge On Pent-Up Demand As Lockdowns Ease: ICICI Securities
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ICICI Securities Report
In continuation to our monthly series, we are monitoring mobility and retail demand trends as we believe both these data sets have a lead-lag effect.
Key takeaways from June 2021:
a) global mobility data trends remain on the upward trajectory across regions post-Covid (e.g. France, Italy, U.S., Korea – charts 1-4); India mobility data witnessed month-on-month improvement as Covid cases recede and lockdowns ease (e.g. Maharashtra, Gujarat);
b) overall, Eastern and Southern states were most impacted (~35% decline in mobility data) while drop in Western and Northern states were relatively lower at ~20-25% (charts 7-10);
c) in domestic retails, passenger vehicle segment rose ~114% month-on-month while two-wheeler grew ~127% month-on-month.
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