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ICICI Direct Report
Positive momentum continued in September 2020 despite it historically being a month with relatively lower retail sales.
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Total retail registrations for September were at 13.4 lakh units, down just approximately 11% YoY.
(Note – Andhra Pradesh, Madhya Pradesh and Telangana are non-Vahan states. They combined form approximately 15% of auto volumes and approximately 20% of tractor volumes).
E-Way bill generation for September (till September 27) ended on a strong note reaching five crore.
If we extrapolate this and compare to the average bill generation in the months prior to Covid-19 (October 2019-February 2020) it has reached approximately 100% levels of the average 5.5 crore bills.
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E-Way bill generation for April, May, July and August hovered at 16%, 46%, 79%, 88% and 90% levels, respectively.
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