Wholesale growth expected to continue for tractors, passenger vehicles and two-wheelers, says equity research firm Emkay
As per its sectoral update, channel checks indicate better retail sales for tractors and PVs, while it remains subdued for 2Ws on a YoY basis.
"Tractor industry wholesales should grow strongly at more than 25 per cent on better retails and channel filling."
Advertisement"Volume growth is expected to be positive across regions."
According to the update, PV industry volumes are likely to remain in the positive territory, with industry growth at over 15 per cent.
"Domestic volumes should grow... on a low base which resulted from supply issues present in the year-ago comparable period."
"Discounts have declined YoY - by up to 2 per cent of vehicle prices."
Notably, the update expected domestic 2W volume performance should be mixed YoY.
"Volume performance in South, East and West regions has been better than the North region."
Advertisement"Retails have declined in the North region due to the weakness in entry-level segment and lower marriage season demand. Executive and premium motorcycles are doing better than entry-level motorcycles. In comparison, exports are expected to be strong across regions, except for the ASEAN market."
In addition, the update pointed out that domestic CV volumes will be a mixed bag.
"MHCV demand has been improving on strong Tipper or ICV demand and a gradual recovery in replacement demand as well."
Advertisement"The automobile sector remains a key beneficiary of the economic recovery and low interest rates."
Bharat Bandh – over eight crore traders across India shut shop in protest against rising fuel prices and changes in GST rules
EXCLUSIVE: Ignore low CIBIL score for street vendor loans, work on holidays, and other diktats from Indian government to banks rushing to meet March target
India now allows you to avail a discount on flight ticket if you are not carrying a check-in baggage
- If the COVID-19 vaccine prices are too high for some, then why not use direct benefit transfer
- The COVID-19 crisis in India is getting worse with state administrations trying to hoard oxygen
- On Earth Day, companies commit to adopt more sustainable practices in an attempt to safeguard our tomorrow
- Tiger Global makes its first crypto investment in India making Coinswitch Kuber worth half a billion dollars
- Best pulse oximeters to keep a check on your SpO2 readings