ECONOMY

Covid-19 Recovery Pulse – Auto Retail Picking Up Pace: ICICI Direct

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.

Daily Vahan registrations in August 2021 have averaged at ~63,200 units i.e. 79% of pre-Covid-19 levels and is down ~11% on an month-on-month basis.

The start to September 2021 is soft with average reading at ~60,400 units, broadly in line with the sluggish start to the month.

With Covid-19 abating pan-India, registrations are expected to pick up pace but will be constrained by lower vehicle production given the global chip shortage, especially in the passenger vehicle space.

E-Way bill generation for August 2021 began on a strong note, reaching 4.6 crore.

If we compare this to the average bill generation in the months prior to Covid-19 (October 2019-February 2020), it has reached ~115% levels of the average 5.5 crore bills.

Click on the attachment to read the full report:

ICICI Direct Covid Recovery Pulse.pdf

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