NDTV Profit'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 NDTV Profit's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Domestic two wheeler retails in March 2024 (1.5 million units) were up ~6% YoY/month-on-month, with marriage and harvesting season led demand set to come in April-May.
Electric -two wheeler retails showed strong growth, up 65% MoM at 136000 units versus last 12 months mean of ~74000 units per month – higher discounts/price cuts sustainability of such a big number need to be monitored going ahead.
Personal vehicles stood at ~0.31 million units, down 7% YoY/ 3% MoM, largely in line with the past 12 months mean levels, implying base effect is catching up, with limited legs in retail demand incrementally in the near term driving growth.
ICE three wheelers continued to grow, up ~36% YoY at ~63000 units. Tractor retails were down 3% YoY at ~77000 units and medium and heavy commercial vehicle were down 6% YoY.
We expect M&HCV retails to decline till H1 FY25E due to elevated base on account of BS6 phase-two transition.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
