ICICI Direct: Covid-19 Recovery Pulse - E-Way Bill Generation Shows Recovery Signs With Auto Volumes Flat
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ICICI Direct Report
The onset of the festive season led to positive momentum in retail sales.
Daily Vahan registrations were up strongly by approximately 16% week-on-week to approximately 64300 units i.e. approximately 80% of pre-Covid-19 levels during October 19-22 versus an average 55400 units in the preceding week.
E-Way bill generation for October (till October 18) began on a strong note reaching 3.5 crore.
If we compare this to average bill generation in the months prior to Covid-19 (October 2019-February 2020) it has reached approximately 106% levels of the average 5.5 crore bills.
E-Way bill generation for April, May, July, August and September hovered at 16%, 46%, 79%, 88%, 90% and 104% levels, respectively.
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