ICICI Direct: Covid-19 Recovery Pulse - Average Daily Auto Registrations, E-Way Bill Generation Shows Recovery Signs
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ICICI Direct Report
Daily vehicle registrations rose approximately 22% week on week, averaging approximately 57,000 units i.e. approximately 72% of pre-Covid-19 levels during the week (August 17-20) against approximately 59% levels seen in the preceding week.
(Note – Andhra Pradesh, Madhya Pradesh and Telangana are non-Vahan states. Combined they form approximately 15% of auto volumes and approximately 20% of tractor volumes)
E-Way bill generation for August (till 16) continued its momentum on a strong note reaching 2.3 crore.
If we extrapolate this and compare it to the average bill generation in the months prior to Covid-19 (October 2019-February 2020), it has reached approximately 80% levels of the average 5.5 crore bills.
E-Way bill generation for month of April, May, June and July hovered at 16%, 46%, 79% and 88% levels, respectively.
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