ICICI Direct: November Auto Volumes - Recovery Gains More Broad-Based Flavour
Heavy vehicle traffic, including cars, trucks and vans travel on a freeway at night. (Photographer: Patrick T. Fallon/Bloomberg)

ICICI Direct: November Auto Volumes - Recovery Gains More Broad-Based Flavour

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

November 2020 auto original equipment manufacturers volumes continued to reflect rural strength (motorcycles, tractors), with a pick-up in urban-facing pockets (utility vehicles, scooters) aiding overall prints for the industry.

Recovery in commercial vehicle space (ex-buses) continued while a striking feature for the month was the robust export performance of most players.

Passenger vehicle performance was a mixed bag. Bellwether Maruti Suzuki India Ltd.’s volumes rose modestly by 1.1% to 1.5 lakh units, dragged by 5% decline in the core mini and compact portfolio.

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ICICI Direct Monthly Auto Volumes.pdf

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