ICICI Direct: Covid-19 Recovery Pulse - Average Daily Auto Registrations, E-Way Bill Generation Show Recovery Signs
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ICICI Direct Report
Daily vehicle registrations maintained positive momentum, averaging approximately 58,000 units i.e. approximately 72% of pre Covid-19 levels during the week (August 24-27), flat week-on-week .
(Note: Andhra Pradesh, Madhya Pradesh and Telangana are non-Vahan states. They combined form approximately 15% of auto volumes and approximately 20% of tractor volumes.)
E-Way bill generation for August 2020 (till August 23) continued its momentum on a strong note reaching 3.4 crore.
If this is extrapolated and compared to the average bill generation in the months prior to Covid-19 (October 2019-February 2020) it has reached approximately 80% of the average 5.5 crore bills.
E-Way bill generation for April, May, June and July hovered at 16%, 46%, 79% and 88%, respectively.
The National Payments Corporation of India (NPCI) data reveals that monthly vehicle volumes at various toll plazas (86.6 million) have reached approximately 79% levels in July (versus approximately 74% levels in June) of pre-Covid operations
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