IDBI Capital: November Auto Sales Update
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IDBI Capital Report
In November 2020, wholesale continue to improve on YoY/month-on-month basis.
This is driven by pent-up demand in retail market and bumper retail sales on Dhanteras and Diwali, preference for personal mobility during the pandemic, attractive vehicle financing schemes, easing of supply chains, labor availability, new launches and inventory filing at dealerships.
Post festive season, the inventory level for two-wheeler is on higher side with the dealer.We believe demand for four-wheeler continues to remain robust till December whereas two-wheeler demand expected to be subdued.
Commercial vehicle demand expected to grow on the back of increase in road/construction activity.
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