ICICI Securities: Auto Sector 2021 Outlook - Strong Recovery Expectations Priced In 
Vehicles sit in traffic during the evening rush hour in the Bandra East area of Mumbai, India (Photographer Vivek Prakash/Bloomberg)

ICICI Securities: Auto Sector 2021 Outlook - Strong Recovery Expectations Priced In 

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 Securities Report

It is fair to assume CY20 did not go as per plan (thanks to Covid-19) for most and the auto sector too was impacted as mobility needs got constrained in first half of the year due to lockdowns.

However, second half was a story of pent-up demand release and growing industry optimism.

As we move into CY21, we find ourselves forecasting strong double-digit industry growth (aided by base effect: H1 CY20) while assuming a continuation of more of the same trend (rural outperforming urban).

Click on the attachment to read the full report:

ICICI Securities Auto Outlook 2021.pdf


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