India Automobile Meter - Supply Challenges, Cost Pressures To Restrict Near-Term Performance: Nirmal Bang
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Nirmal Bang Report
Data tracking certain high-frequency indicators for the auto sector for August 2021 indicate that 18 of the 29 indicators were in the positive territory, an increase from 17 of the 28 indicators in July 2021.
There was a contrast in wholesale and retail volume growth for Aug-21, largely driven by base effect and supply constraints leading to demand supply mismatch.
Industry retails witnessed strong ~15% YoY growth (but down 11% month-on-month due to muted two-wheeler sales/supply constraints) in Aug-21 on account of a low base and sustained demand momentum (in passenger vehicles and commercial vehicles).
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