India's Automobile Industry Bounces Back In July: CARE Ratings
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.
CARE Ratings Research Report
The second Covid-19 wave had slammed brakes on the Indian automobile industry in the first quarter of FY22.
As India exits the second Covid-19 wave, the automobile sales volumes in July 2021 signify a bounce back in the industry.
The domestic wholesale volumes in July 2021 have been surpassed by a wide margin compared on a YoY as well on a sequential basis.
When compared with the previous month, factory dispatches of passenger vehicles and two wheelers grew 14.2% and 18.8% in July 2021, while three wheeler volumes have nearly doubled.
Tractor sales were lower by 40.9% due to the seasonality factor at play.
The cumulative sales of five players in the commercial vehicles industry grew 28.9% over previous month.
Click on the attachment to read the full report:
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 author entity 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.