NEW DELHI: India’s automotive sector received the much-needed festive season push in October 2022. Not only the carmakers registered sharp spike in monthly sales despite semiconductor supply constraints, the two-wheeler industry too witnessed a pick-up in sales.
Top carmaker Maruti Suzuki (MSIL) on Tuesday reported a 21% year-on-year (YoY) increase in total sales, including exports, at 1,67,520 units in October 2022. In the domestic market, MSIL passenger vehicle (PV) dispatch stood at 140,337 units in October 2022 as compared to 1,17,013 units in the year-ago month.
Korean carmaker Hyundai remained India’s second-largest carmaker with total sales at 58,006 units last month, a growth of 33% YoY. Domestic sales for Hyundai grew by 30% to 48,001 units last month as compared to 37,021 units in October 2021. Tarun Garg, director (sales, marketing & service), at Hyundai India, said “With the ever-improving semi-conductor situation, we were able to meet the demand of our beloved customers and deliver their favourite Hyundai cars during the festive season in October.” Garg claims that they are set to register record domestic sales volume in the CY2022 proven range of super performer SUV brands.
Tata Motors PV sales, including electric vehicles, in the domestic market were at 45,423 units as compared to 34,155 units in the same month last year, up 33%. EV sales, including international business, were at 4,277 units last month as against 1,660 units in the same month a year ago, the company said. Mahindra & Mahindra’s total domestic PV sales stood grew by 60% YoY in October 2022 to 32,298 units.
In the two-wheeler segment, Hero MotoCorp witnessed sharp fall in sales- from 5.28 lakh units in October 2021 to 4.43 lakh units in October 2022. The other big three- TVS, Bajaj Auto and Japan’s Honda reported minor gain in sales.