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Reliance Securities Report
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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