BQ Prime'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 BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Our interactions with leading channel partners indicate that there is a slight slowdown in enquiry levels during the month on a sequential basis. However, retails are expected to grow at 8-12% YoY across segments.
Driven by a healthy uptick in the urban markets, coupled with the marriage season in northern regions (20-25% of total demand in key states such as Uttar Pradesh and Bihar), two-wheeler demand has slightly improved in Feb-23. This is expected to drive 10-12% YoY growth in retail volumes.
Passenger vehicle retails are expected to grow 6-8% YoY. There has been an 8-10% drop in the enquiries across original equipment manufacturers, which is expected to result in a sequential volume decline for the month.
However, overall sentiments are still positive as booking trends remains healthy. Our channel checks suggest commercial vehicle volumes to grow 11-13% YoY during the month.
Demand perceptions were mixed as we observed a decline in demand from segments such as agriculture, while demand from other industries remained stable.
While tractor retails are expected to grow at 10-12% YoY, we expect the same to decline 7-9% month-on-month. Due to sluggish cash flows in some regions and the anticipation of severe effects from this year's heatwaves, the mood in the agricultural sector has been down of late.
Overall, in February 2023, wholesale volumes for PV/CV/two-wheeler/tractor/three-wheelers are estimated to grow at 5%/ -4%/ 1%/17%/14% YoY.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime 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 BQ Prime.
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.
