ICICI Direct: Auto Sector Update - Rounded Recovery Broadens Opportunity Pie
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ICICI Direct Report
Domestic auto industry volumes have been on a steady mend in the months post lifting of lockdown restrictions.
Manufacturing and distribution activities have been getting ramped up gradually since June 2020, in step with the rest of the economy. However, the impact of the pandemic on the supply chain continues to inhibit a complete return to production normalcy.
Nevertheless, most automotive industry segments have reported successive improvement in offtake throughout June-November 2020 on the back of - initial bounce provided by pent-up aspect, followed by preference for affordable personal mobility and continued rural resilience.
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