Vehicle Finance NBFCs - Outlook Sanguine; Recovery From H2 FY22: Systematix
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Despite the multi-state lockdowns due to the second Covid wave, we expect a recovery in automotive financing.
Tractors, passenger vehicles and two-wheelers should witness a faster recovery than commercial vehicles as rural India is poised to benefit from a good Rabi harvest, expectations of a normal monsoon and the increased preference for personal mobility.
CV financing growth led by LCVs and back-ended growth in MHCVs from 2HFY22E augurs well for vehicle finance NBFCs.
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