Reliance Securities On Auto Sector - Post-Festive Slump Might Impact Near-Term Volume
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Reliance Securities Report
Indian automobile companies reported higher YoY sales volume across segments in November 2020 (barring medium and heavy commercial vehicle and three-wheeler segments) on the back of festive season, demand recovery in urban markets and continued healthy demand in rural markets.
In most segments, wholesale volume was lower than the retail volume, which picked up faster.
Inventory level at the end of November 2020 across segments fell by 0-2 weeks due to healthy off-take during the recently-concluded festive season.
Notably, supply constraints restricted wholesale volumes of a few companies.
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