NEW DELHI, Aug 30: The auto sales for the month of August 2021 are likely to see positive momentum for commercial vehicles and two-wheelers on a sequential basis, Emkay Global Financial Services has said in its estimate.
“Volumes for passenger vehicles may see a hit whereas tractors may see a mixed performance in the domestic market,” the brokerage firm said after conducting a channel check to gauge the volumes’ estimate for the month of August.
Most auto companies would announce their August sales figures on September 1.
Emkay said that Commercial Vehicle (CV) industry volumes should improve sequentially and in comparison to 2019 levels, aided by healthy freight availability and better freight rates. Channel checks indicate that volumes are aided by Tippers, ICVs (intermediate commercial vehicles) and some replacement demand.
“The two-wheeler industry volumes are likely to grow sequentially but may be lower in comparison to 2019 levels. Demand has been encouraging during the festive period (Eid, Onam),” it said.
The estimate said that Passenger Vehicles (PV) industry volumes should fall sequentially due to supply challenges but may improve in comparison to 2019 levels. The recent supply issues are due to higher Covid-19 cases in Asian countries that are part of the semiconductor supply chain.
“PV industry volumes are expected to be 254,000 units, while retails are likely to be higher by 10 per cent,” Emkay said.
Tractors may see a mixed volume performance in the domestic market.
(UNI)
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