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Prabhudas Lilladher Report
In Q3 FY22, demand continued to witness traction for passenger vehicles on the back of customers' preferences for personal mobility and improving sentiments.
Dealerships are receiving encouraging enquiries and bookings, however, semiconductor shortage is causing longer wait periods. With Malaysian chip supply now normalising, we would expect higher retails in FY22-end.
Further, commercial vehicles fleet utilisation level improved with economy opening up. However, for two-wheeler sales over the quarter remained sluggish affected by Covid-19 and weak rural sentiments and sluggish festive season. Retails for two-wheeler are likely to improve with recovery in the rural income post Rabi harvest.
Tractor volumes remained weak on the back of a high base, erratic monsoons and weak rural sentiments.
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