ICICI Securities: Auto And Auto Ancillary Days 2020 - Key Takeaways From The Conference 
Vehicles travel along Marine Drive in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

ICICI Securities: Auto And Auto Ancillary Days 2020 - Key Takeaways From The Conference 

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

ICICI Securities Report

We hosted 28 corporates and experts across the automotive sector in a virtual conference over August 13-14. We hosted 110 institutions and in excess of 800 meetings.

This report (Part-1) will cover the feedback provided by various corporates on underlying business trends. The expert summary (Part-2) would be published subsequently. We look forward to hosting you again next year.

Key CIO summary:

1) Production issues persist as supply chain is yet to attain normalcy; most auto companies are still operating at 70-80% of pre-Covid-19 levels;

2) Channel inventory at 30-35 days; likely push on sales to prepare for festive season;

3) Consumer preferences – downtrading visible in two-wheelers and four-wheelers as focus remains on limiting wallet spends;

4) Tightening of financing norms (e.g. loan to values, rejection rates) affected in almost all sectors with tractors being the least affected whereas three-wheelers being the most affected; these conditions not affecting customers who have not availed moratorium.

Click on the attachment to read the full report:

ICICI Securities India Automobile Day Post Conf Aug20.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

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