Sustained Retail Demand, Favourable Base Drive Auto Wholesale Growth In December, Says Nirmal Bang
Vehicles travel along a highway in an aerial photograph taken in Delhi, India (Photographer Anindito Mukherjee/Bloomberg)

Sustained Retail Demand, Favourable Base Drive Auto Wholesale Growth In December, Says Nirmal Bang

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

Automobile sales continued their growth momentum in December 2020 on sustained retail momentum post festivals, low channel inventory and a soft base amid rise in preference for personal mobility and continued positive sentiments in rural and semi-urban markets.

Barring three-wheelers, most of the segments reported YoY volume growth.

We expect passenger vehicle dispatches to see strong growth on sustained retail demand owing to pending bookings, low channel inventory and a favorable base effect.

In case of two-wheelers, while favorable base supported the YoY growth, wholesales vis-a-vis retails suggests that some inventory correction was undertaken in December.

Click on the attachment to read the full report:

Nirmal Bang Automobile Sales-December 2020-Monthly Sales Update-4 January 2021.pdf

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