13.4C
Delhi
Tuesday, January 26, 2021

Overall auto segment’s YoY wholesales expected to grow, barring few

- Advertisement -

SIAM seeks bigger stimulus package to revive auto sectorNew Delhi, Dec 29 (IANS) Wholesale volumes of several automobile sgements are estimated to grow on a year-on-year basis in December, said a report by Motilal Oswal Financial Services.

As per the report, in December 2020, wholesale volumes are estimated to grow at 14.4 per cent for two wheelers on a low base and 5.4 per cent for passenger vehicles due to the year-end sales.

Similarly, wholesale volumes for tractors are expected to grow. The volume is expected to zoom by 38.4 per cent YoY on robust demand and lower base.

READ ALSO:  Automobile slowdown in India now in its 11th month

However, commercial vehicle volumes are likely to decline by 2.8 per cent.

“Discounts currently stand at 50 per cent as compared to last year,” the report said.

“Inventory is lower than normal for PVs and tractors, leaving headroom for higher inventory filling in coming months. Wholesales are expected to grow on a low base in Dec’20, catering to the spillover demand from the festive season and inventory refilling.”

According to the report, two-wheeler inventory currently stands at 30-45 days, PVs inventory, while entering last week of December, remain at minimal levels (10-20 days), with a waiting period of 4-6 weeks in fast selling models.

READ ALSO:  Auto demand grows this festive season: Report

“M&HCVs are seeing strong demand from the ‘Infrastructure or Construction’ segment on the back of resumed government spending on infrastructure, whereas inquiries from haulage are better than last year.”

“Demand for tractors continues to remain strong, with a growth in retails and supplies just meeting demand. Overall consumer sentiment has improved, but the market remains cautious fearing a second COVID-19 wave.”

–IANS

India Updates
India Updates is an independent news & Information website. Follow us for regular updates on News and Information.

Related News

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Topics In India

Covid 19 India Updates

Trending News In India

Trending Showbiz

Trending Sports

Latest Trending News In India

Delhi Police caught off guard by breach of trust by protesters?

New Delhi, Jan 26 (IANS) When the Delhi police entered into an agreement with the protesting farmers, little did they realise there were chances...

How the situation turned ugly at Red Fort

New Delhi, Jan 26 (IANS) The farmers movement that had been peaceful for the last two months turned violent on Republic Day on Tuesday...

Anyone who wants Covid vaccine could get it ‘this Spring’: Biden

By Nikhila Natarajan (IANS) US President Joe Biden's underpromise-overdeliver strategy on Covid-19 vaccine allocation landed its most optimistic message yet, pointing to vaccination for...

SKM asks farmers to return to borders, continue peaceful protest

New Delhi, Jan 26 (IANS): After violent clashes with between the police and the protesting farmers in the national capital on Tuesday, the Samyukt Kisan...