Passenger vehicle wholesales in India rose to a record high in October as firms pushed dispatches to sellers to cater to the improved demand in the festive season.
The total passenger vehicle wholesales in October rose to 3,91,472 models, up 16 per cent from 3,36,679 models in the identical month final yr.
Last month witnessed the highest-ever dispatches of passenger automobiles in the home market by Maruti Suzuki India and Mahindra & Mahindra.
“It is not only the highest October in terms of sales, but also the highest ever month which we have seen in the Indian passenger vehicle industry in any year in any month,” Maruti Suzuki India Senior Executive Officer (Marketing and Sales) Shashank Srivastava advised reporters in a name.
He famous that the fading away of semiconductor scarcity points has helped the business ramp up manufacturing and cater to enhanced demand in the market.
Besides, brisk enterprise throughout the peak pageant interval of Navratra additionally helped in the quantity progress final month, Srivastava mentioned.
He famous that the share of sports activities utility automobiles in the general passenger vehicle sales continues to develop and at the moment stands at 50.7 per cent.
“This makes this year quite good so far, because every month has been the highest ever that month. In fact, if you include January, February and March also or even the entire calendar year also, every month has been the highest ever. That is a very positive sign for the industry,” Srivastava mentioned.
He nevertheless famous that the stock stage stays fairly high on the supplier stage and it could rely upon the retail sales in the primary 15 days of this month as how the wholesales would form up going forward.
The inventory has gone up as a result of the wholesale has been lower than the retail, he added.
In October, MSI reported its best-ever home month-to-month dispatches in October at 1,77,266 models, up 21 per cent from 1,47,072 models in the year-ago interval.
Its complete home passenger vehicle sales rose to 1,68,047 models final month from 1,40,337 models in October 2022.
“This is the highest ever number for Maruti Suzuki in any year in any month. The previous highest being in October 2020, which was 1,63,656 units,” Srivastava mentioned.
Sales of mini phase automobiles, comprising Alto and S-Presso, declined to 14,568 models towards 24,936 models in October 2022.
Its compact automobiles, together with Baleno, Celerio, Dzire, Ignis, Swift, Tour S and WagonR, sales rose to 80,662 models in contrast to 73,685 models in the year-ago month.
Utility automobiles, consisting of Brezza, Grand Vitara, Ertiga and XL6, sales surged 91 per cent to 59,147 models final month from 30,971 models earlier.
Rival Hyundai Motor Company mentioned its home sales elevated by 15 per cent to 55,128 models final month, from 48,001 models in the identical month a yr in the past.
“The festival season has again proved that customers are really wanting to buy cars. The good part is that although we do not have pent up demand, the fresh inflow is what is keeping us afloat,” Hyundai Motor India COO Tarun Garg mentioned.
Mahindra & Mahindra mentioned its utility vehicle dispatches rose by 36 per cent year-on-year to 43,708 models in October in contrast to 32,226 models in the year-ago interval.
“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,” M&M Automotive Division President Veejay Nakra mentioned.
Tata Motors mentioned its passenger vehicle wholesales, together with electrical automobiles, in the home market have been at 48,337 models in contrast to 45,217 models in the year-ago month, up 7 per cent.
Toyota Kirloskar Motor (TKM) mentioned its dispatches elevated by 66 per cent year-on-year to 21,879 models in October.
“For us, sustained growth has been coming from across every segment where Toyota has its presence,” TKM Vice President of Sales and Strategic Marketing Atul Sood mentioned.
Kia India mentioned its sales elevated by 4.4 per cent yr on yr to 24,351 models in October.
“During the festive season, our customers’ positive outlook has helped us achieve our fourth-highest monthly sales ever in India,” Kia India National Head, Sales & Marketing Hardeep Singh Brar mentioned.
The firm is working in direction of sustaining the identical momentum in the approaching months, he added.
In the two-wheeler phase, Hero MotoCorp reported a 26.5 per cent improve in complete sales at 5,74,930 models in October 2023, as in contrast to 4,54,582 models in the identical month final yr.
Rival Honda Motorcycle and Scooter India (HMSI) mentioned its complete sales stood at 4,92,884 models final, a ten per cent yr on progress over October 2022.
