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September Auto Sales - Weak Dispatches On Supply Constraints; CVs Holding Ground: Nirmal Bang

September Auto Sales - Weak Dispatches On Supply Constraints; Commercial Vehicles Holding Ground: Nirmal Bang

Tyre tracks in a muddy road. (Photographer: Ian Waldie/Bloomberg)
Tyre tracks in a muddy road. (Photographer: Ian Waldie/Bloomberg)

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.

Nirmal Bang Report

Based on our channel checks, we expect September 2021 sales to be materially impacted due to the ongoing supply constraints (chip shortages which is more prevalent in passenger vehicles) and high base effect (for two-wheelers and tractors).

For commercial vehicles, we expect a sustained uptick in volume, led by an improvement in freight availability (as economic activities gather pace) and strong demand from infrastructure and construction sectors.

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.

Click on the attachment to read the full report:

Nirmal Bang Automobile Sales Estimate September 2021- Monthly Sales Estimate-29 September 2021.pdf

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