August 2021 auto wholesale dispatches were a mixed bag. The performance was varied among segments, with the CV space being the clear outlier for the month (healthy sequential MoM volume growth) while PV players posted soft numbers, hampered by semiconductor supply shortages. We continue to examine trends on an MoM basis on account of the Covid-impacted base.
CV revival continued apace. Market leader TML reported a sharp 25% growth to 29,781 units, led largely by I&LCV and SCV segments with M&HCV truck volumes up ~8%. In contrast, Ashok Leyland's (ALL) overall growth was lower at 8.2% (9,360 units) but it came on the back of 22% jump in M&HCV trucks. LCV volumes at M&M fell 51.7% to 8,329 units. VECV volumes increased 12.2% to 4,793 units. In the tractor space. M&M, Escorts posted 12.7% YoY, 21.7% YoY decline to 21,360 units, 5,693 units, respectively (Note - tractor volumes are compared YoY due to seasonality impact on MoM basis).
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