te Booster shot! Anil Singhvi decodes auto sales impact on stock markets | Zee Business

Booster shot! Anil Singhvi decodes auto sales impact on stock markets

Stock Markets: The July auto sales numbers are very good, especially tractor sales, Zee Business Managing Editor Anil Singhvi said. The rural economy is supporting the auto sector in a big way, he said. Amid the coronavirus crisis, the cities are the ones which took the maximum hit in terms of sales during the lockdown

Booster shot! Anil Singhvi decodes auto sales impact on stock markets
It augurs well for the markets that the auto sales numbers have come in positive right at the start of the week, Anil Singhvi says

Stock Markets: The July auto sales numbers are very good, especially tractor sales, Zee Business Managing Editor Anil Singhvi said. The rural economy is supporting the auto sector in a big way, he said. Amid the coronavirus crisis, the cities are the ones which took the maximum hit in terms of sales during the lockdown. The pandemic trend however, is changing now as the rural areas are now seeing a spike in the number of cases. 

How this will pan out for the rural economy is still to be seen. It is however, important that the rural economy continues to support the sector.

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Auto Sales, Going Forward

While the sales numbers are on a month-on-month basis, it will be interesting to see if the momentum continues from here, he said.   

Importantly, things have changed in terms of doing business. One thing auto companies have done now  is that they have moved from their previous system and this time have insisted that dealers take up the inventory. 

There was a great fear in the industry that if the coronavirus situation continues in this manner, it may further reduce demand or reduce the purchasing power of the people.  

Singhvi said that it is now clear that that the public transport is not readily available and it carries greater risk. The people will now prefer to have their own vehicles rather than travel on public transport.

In an important revelation for investors, the Market Guru said that he expects two-wheeler and four-wheeler demand to remain strong in the near term. 

How Will It Affect Market Mood? 

It augurs well for the markets that the auto sales numbers have come in positive right at the start of the week.

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Critically, it will lift the mood of the markets for the rest of the week, Anil Singhvi said.

Written By: ZeeBiz WebTeam
Edited By: Harish Dugh
Updated: Mon, Aug 03, 2020
02:11 pm
new delhi, ZeeBiz WebDesk
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