Covid-19 Recovery Pulse - Auto Retail Continues To Struggle In May: ICICI Direct

A person stands in the window of a car company's showroom in the Ambattur district in Chennai, India. (Photographer: Dhiraj Singh/Bloomberg).

Covid-19 Recovery Pulse - Auto Retail Continues To Struggle In May: ICICI Direct


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ICICI Direct Report

Vahan daily registrations averaged ~24,400 units, ~30% of pre-Covid-19 levels in May 2021 and down 55% on an month-month basis.

Initial daily registration readings for June 2021 are also soft at ~22,000 units on month-to-date basis.

Going forward, however, with the peak of the Covid-19 resurgence behind us and state specific unlocking underway, we expect registrations to improve meaningfully in June 2021.

E-Way bill generation for May (till May 30) ended on a weak note, reaching mere 3.8 crore.

If we compare this to the average bill generation in the months prior to Covid-19 (October 2019-February 2020), it has reached ~69% of the average 5.5 crore bills.

Click on the attachment to read the full report:

ICICI Direct Covid Recovery Pulse 4 June.pdf


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