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OEMs to announce wholesale dispatches for December 2021

News: OEMs are expected to announce wholesale dispatches for December 2021 over the coming weekend.

Views: Given the last month of the calendar year, expectations are muted for the overall automobile OEM space. However, we expect PV, as a category, to report sequential MoM growth due to improvement in chip availability while CV segment is expected to continue onto its path of cyclical recovery. The 2-W segment is expected to report muted numbers amid media reports indication high channel inventory with tractor space is expected to report YoY decline due to high base.

Impact: Neutral