ICICI Direct: Covid-19 Recovery Pulse - Average Daily Auto Registrations, E-Way Bill Generation Show Recovery Signs
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ICICI Direct Report
Usual trend of relatively lower daily vehicle registrations in the first week of a month was observed in September as well.
However, momentum picked up strongly towards end of the week, with September 03, 2020 registrations at approximately 61,000 units i.e. 76% of pre-Covid-19 levels
(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 (till August 30, 2020) continued its momentum on a strong note reaching 4.7 crore.
If we compare this to average bill generation in prior months to Covid-19 (October 2019- February 2020) has reached approximately 86% levels of the average 5.5 crore bills.
E-Way bill generation for April, May, June and July hovered at 16%, 46%, 79% and 88% levels, respectively
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