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Covid-19 Recovery Pulse - Festive Period To Lift Auto Retail In October: ICICI Direct

Covid-19 Recovery Pulse - Coming Festive Period To Lift Auto Retail In October: ICICI Direct

<div class="paragraphs"><p>&nbsp; vehicles stand on display as customers talk to sales representatives at&nbsp;a showroom in New Delhi, India. (Photographer: Anindito Mukherjee/Bloomberg)</p></div>
  vehicles stand on display as customers talk to sales representatives at a showroom in New Delhi, India. (Photographer: Anindito Mukherjee/Bloomberg)

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

Daily Vahan registrations in September 2021 dipped 9.3% month-on-month to ~57,400 units i.e. 72% of pre-Covid-19 levels versus daily average of ~63,300 units clocked in August 2021 i.e. 79% pre-Covid levels.

Registrations are expected to pick up meaningfully in October 2021 as we approach the festive season but it will be partially restricted in the PV space due to lower original equipment manufacturer production amid global chip shortage.

E-Way bill generation for September began on a strong note, reaching four crore.

If we compare this to the average bill generation in the months prior to Covid-19 (October 2019-February 2020), it has reached ~119% of the average 5.5 crore bills.

Click on the attachment to read the full report:

ICICI Direct Covid Recovery Pulse 1Oct.pdf

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