Auto Sales Grow 20% In Nov As Positive Sentiments, Low Base Aid: CareEdge


BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

The domestic automobile sales volumes grew by 20% YoY in November 2022. The growth momentum continued due to the ongoing wedding season, lucrative offers, a low base last year due to the Omicron variant, and supply disruptions of semiconductor chips.

However, domestic sales volume declined by 19% on a sequential basis which is attributable to seasonality on account of record festive season sales in October 2022. Exports in November 2022 declined by 16% on a y-o-y basis due to ongoing global headwinds and challenges in some export markets.

Further, healthy double-digit sales momentum is expected to continue in December 2022, backed by continued healthy demand and discounts by OEMs to clear their year-end stocks.

However, rising interest rates along with the increased cost of borrowing and ownership continue to be a concern that will further dampen consumer sentiment, especially in the two-wheelers and entry-level passenger vehicle segment.

Click on the attachment to read the full report:


This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.


Source link

What is your reaction?

In Love
Not Sure

You may also like

Comments are closed.

More in:Business