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Automobiles - Wheels Turn, Albeit Quickly, Supportive Macros Indicate Gains For Domestic Space: ICICI Direct

Automobiles - Wheels Turn, Albeit Quickly, Supportive Macros Indicate Gains For Domestic Space: ICICI Direct

<div class="paragraphs"><p>Vehicles at a junction following the traffic signal. (Source: pxhere.com)</p></div>
Vehicles at a junction following the traffic signal. (Source: pxhere.com)

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.

ICICI Direct Report

In our last update released in March 2022, we had opined about resurfacing issues for the automobile sector largely on account of disruptions in the supply chain (chip availability) and increase in key commodity prices namely crude and metals amid ongoing geo-political crises.

However, as we stand today, things have changed for the better. In the true sense wheels have turned benefitting the domestic automobile space.

To start with, supply chain issues, remain largely resolved with management commentary suggesting improving chip availability and commodity prices mainly metals have corrected substantially amid resurfacing global growth concerns, Covid-19 led clampdown in China, high inflation and consequent global centrals bank efforts to tame the same via interest rate hikes.

Click on the attachment to read the full report:

ICICI Direct Auto Sector Update.pdf

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