ICICI Direct: Festive Positivity Continues In Auto Retails, E-Way Bill Generation Improves
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ICICI Direct Report
Upbeat festive sales continue to reflect in November Vahan data, with registrations reaching pre-Covid-19 levels at approximately 80,000 units (November 2020 month-to-date daily average) for the first-time post pandemic.
Positivity looks set to continue as Vahan data comes with a two to four weeks lag.
E-Way bill generation for November began on a strong note reaching 4.1 crore. If we compare this to the average bill generation in the months prior to Covid-19 (October 2019-February 2020), it has reached approximately 101% of the average 5.5 crore bills.
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