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ICICI Securities Report
In continuation to our monthly series, we are monitoring mobility and retail demand trends as we believe both these data sets have a lead-lag effect.
Key takeaways from August 2021:
global mobility data witnessed drop in trends across regions post Covid-19 (e.g. France, Spain, U.S., Korea) as regions in Europe/U.S. were hit by the third wave; India mobility data witnessed month-on-month improvement as Covid-19 cases recede and lockdowns ease (e.g. Maharashtra, Gujarat, Karnataka);
overall, Northern and Western states witnessed faster recovery while mobility recovery in Southern and Eastern states was modest at down 17/down 18%; and
in domestic retail, lack of inventory for popular models is impacting sales; three-wheeler/commercial vehicle segment rose fastest at ~9%/3.4% month-on-month, respectively.
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