September Auto Sales - Chip Shortages To Affect Festival Stocking; CVs Holding Ground: Nirmal Bang
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Nirmal Bang Report
Auto original equipment manufacturers have reported mixed numbers for September 201.
Tractors, two-wheelers and commercial vehicles have surprised positively while passenger vehicles volume is a tad disappointing due to supply-chain constraints.
While festival stocking is likely to be affected due to chip shortages, we see it normalising faster than broader expectations in the Indian context based on our channel checks and interactions with industry experts.
While festivals could be a tad disappointing, we see scope for regaining lost volume during the leaner months post festivals, led by sustained demand and improving supply chain dynamics.
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