Auto Industry Update – Retailers and Mobility Data Crashes Amid Covid-19 Resurgence: ICICI Securities
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Continuing on from our monthly series, we are monitoring trends in mobility and retail demand as we believe these two sets of data have a lead-lag effect.
For April-May 2021, the data makes more sense month over month due to a negligible base in FY20.
Key takeaways for April 2021:
1. Global trends in mobility data remain on an upward trajectory in regions after Covid-19 (eg UK, Italy, US); however, mobility data in India has nosedived due to Covid-induced blockages in states (eg Karnataka, Delhi, West Bengal);
2.Overall, the eastern and southern states were the most affected (~ 50% decline in mobility data), while the decline in the western and northern states was relatively better ~ 35-40%; and
3.In domestic retail, the passenger vehicle segment was down 59% month over month, while two-wheelers fell 53% month over month due blockages.
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