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Reliance Securities Report
As per the Society of Indian Automobile Manufacturers, domestic auto sales volume (excluding commercial vehicles) grew by 11% YoY (down 20% month-on-month) to 19,09,372 units in November 2020.
Though retail sales volume is expected to have been higher due to Diwali festival, inventory destocking resulted in lower wholesale volume.
Overall inventory level across segments fell by one to two weeks, which is close to the normal level.
Just concluded festival season witnessed decent traction with decent off-take and booking for new models (particularly for two-wheelers and passenger vehciles).
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