ICICI Securities: Automobiles - Retail, Mobility Rebound Remains Tepid
A customer sits next to a Tata Motors Ltd. Nano automobile at a dealership in New Delhi, India (Photographer Sanjit Das/Bloomberg)

ICICI Securities: Automobiles - Retail, Mobility Rebound Remains Tepid

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

In continuation to our mobility series, we are monitoring the global mobility and retail demand trends, believe both these data points are highly correlated.

Key takeaways for August 2020:

a) Mobility data trends are mixed in India with modest month on month rebound in across few states (e.g. Bihar, Chhattisgarh, Rajasthan, Kerala) while a few others slipping (e.g. Odisha, Tamil Nadu, Punjab, Gujarat),

b) on domestic retail demand trends, tractor sales have witnessed a V-shaped recovery while passenger vehicles/two-wheeler still remains in negative trajectory (even though festive season in few states has started), while commercial vehicles and three-wheelers fare the worst, and

c) globally, most of the countries are witnessing improving workplace mobility trends (e.g. Europe, USA) while amongst Asian countries the mobility rebound in India is relatively weaker.

Click on the attachment to read the full report:

ICICI Securities Auto Mobility Report September 2020.pdf

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