August Auto Sales Roundup – Mixed Performance; Recovery From Covid 2.0 Is Slower: Reliance Securities

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.

Indian automobile companies reported a mixed sales performance both on YoY and month-on-month basis across different segments in August 2021, due to weak demand and base effect.

Whilst consumer sentiment witnessed improvement in August 2021, it continues to remain lower than pre-Covid-19 level.

Retail sales volume was impacted to greater extent due to slower economic recovery, supply issue, adverse monsoon and price hike in few segments.

Retail volume was lower than the wholesale volume in two-wheelers and tractor segments, while it was better for passenger vehicles and commercial vehicles.

Cumulative monsoon deficit to the tune of 10% on pan-India basis seems to have started impacting consumer sentiment in rural markets.

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Reliance Securities Auto Sector Monthly Update.pdf


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