Reliance Securities: Auto Sector Check - Higher YoY Volume On Festive Sales; MoM Volume Declines
Cars stored in a parking lot. (Photographer: Bing Guan/Bloomberg )

Reliance Securities: Auto Sector Check - Higher YoY Volume On Festive Sales; MoM Volume Declines

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.

Reliance Securities Report

As per the Society of Indian Automobile Manufacturers, domestic auto sales volume (excluding commercial vehicles) grew by 11% YoY (down 20% month-on-month) to 19,09,372 units in November 2020.

Though retail sales volume is expected to have been higher due to Diwali festival, inventory destocking resulted in lower wholesale volume.

Overall inventory level across segments fell by one to two weeks, which is close to the normal level.

Just concluded festival season witnessed decent traction with decent off-take and booking for new models (particularly for two-wheelers and passenger vehciles).

Click on the attachment to read the full report:

Reliance Securities Auto Sector Monthly Quick View.pdf

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