Quote on Auto Sales for the month of July 2022 By Saji John, Geojit Financial Services
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Quote on Auto Sales for the month of July 2022 By Saji John, Research Analyst at Geojit Financial Services
"As the supply situation for electronic components improves, the sector's prospects are expected to advance, aided by commodity price corrections and increased demand visibility. Since the beginning of April 2022, there has been a 30-40 percent correction in the international prices of aluminium, copper, and steel. In July, average domestic PV and CV volume increased by 17.7% and 37.8% YoY, respectively. We anticipate a revival in the 2w wheeler industry in the second half of the year, thanks to the festive season, good monsoon, and increased farm activity. Other positive indicators include an increase in the EV share and favourable valuation to support growth"
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