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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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