NEW DELHI: On the back of strong demand in the Navratri/Dussehra festive period, passenger vehicle (PV) sales grew at a robust pace in October.
Maruti Suzuki (MSIL), India’s largest carmaker sold nearly 2 lakh vehicles (domestic plus exports) last month. In total, MSIL sold 199,217 units, which is its highest-ever monthly sales volume.
The company also recorded its highest-ever monthly domestic PV sales at 168,047 units in October 2023 as against 140,337 units sold in the same month last year.
Besides, sales to other OEM and exports stood at 5,325 units and 21,951 units, respectively. Maruti’s LCV sales stood at 3,894 units last month.
Maruti’s October sales were aided by recovery in the mini and compact segment. Month-on-month basis, this segment’s sales grew from 78,903 units in September 2023 to 95,230 units in October 2023. On an annual basis, this segment’s degrowth came down to about 3-4%.
Maruti continues to ride high in the SUV segment as sales in this segment almost doubled year-on-year to 59,147 units.
Hyundai Motor India (HMIL) registered total sales of 68,728 units in October 2023, up 18% year-on-year. Total sales in October 2023 include domestic sales of 55,128 units (up 15%) and exports of 13,600 units (up 36%).
Tarun Garg, COO, of Hyundai Motor India said, “As we enter the peak of festive season in India, Hyundai Motor India registered robust sales number of 55, 128 units in the domestic market in the month of October. The recent announcement of standardizing of 6 airbags across all Hyundai models and variants has been extremely well received by our valued customers. Also, the supply situation is back to full normalcy and our network is geared up to delight customers with the delivery of their favourite Hyundai cars”.
India’s third largest carmaker- Tata Motors- reported a growth of 7% in domestic PV at 48,337 units in October 2023.
SUV major Mahindra & Mahindra said that in the Utility Vehicles segment, it recorded the highest sales for the fourth consecutive month.
In October, the company sold 43,708 vehicles in the domestic market, a growth of 36% and overall, 44,264 vehicles, including exports. The domestic sales for Commercial Vehicles stood at 25,715 units, also the highest ever.
Veejay Nakra, President, Automotive Division, M&M Ltd., “In October, we clocked the highest ever volumes at 80,679 vehicles, a growth of 32%. Both SUVs and CVs individually achieved highest highest-ever volumes for the third consecutive month at 43,708 and 25,715 vehicles respectively. While the strong festive demand should see us continue our growth momentum in November, we will keep a close watch on select supply-related challenges.”
Toyota Kirloskar Motor (TKM) sold 21,879 units last month, indicating a sharp rise of 66% in comparison with October 2022, when the sales stood at 13,143 units. The company sold a total of 20,542 units in the domestic market and exported 1,337 units.
Atul Sood, Vice President of Sales, and Strategic Marketing at Toyota Kirloskar Motor, said, “This year, the offtake of festive season has been very strong for both TKM and well as the industry…Given strong market sentiments around Diwali, we remain confident of a very buoyant performance in the coming months as well.”