Auto Sector Check – Chip Shortage Hits PV, Premium Two-Wheeler, Light Commercial Vehicle: Motilal Oswal

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Passenger vehicle demand remains strong and commercial vehicle demand is showing good signs of recovery.

Tractor demand is largely stable, while two-wheeler demand is yet to recover.

Retails during Ganesh Chaturthi were lower on a YoY basis.

September 2021 saw the start of the Shraddh period from Sept 21, 2021, which would end by October 06, this has affected inquiries and bookings. 

Our interactions with leading industry channel partners reflect cautious optimism for the upcoming festive season – after weak retails during Ganesh Chaturthi due to supply-side constraints for PVs and slow demand for two-wheelers.

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