December Auto Volumes - OEMs End Calendar Year Steady; Passenger Vehicle Space Outshines: ICICI Direct
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ICICI Direct Report
Auto wholesale dispatches for December 2021 came in the positive territory and broadly witnessed growth on an month-on-month basis.
Passenger vehicle space witnessed near double digit growth amid healthy demand prospects and improving chip availability. In the two-wheeler pack the performance was mixed with some players reporting double digit growth while others reported a similar decline on an month-on-month basis. Commercial vehicle space witnessed a revival in month-on-month growth trend with recovery in passenger/bus segment a key silver lining.
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