Many top automakers, including Bharat’s largest
passenger vehicle manufacturer Maruti Suzuki, are having a good time as festive
demand enhanced a strong result in October and reported significant
year-on-year growth.
Maruti Suzuki reported a 20 per cent YoY growth in
domestic sales, while Hyundai Motor India recorded a 15 per cent rise in
domestic wholesales.
Maruti Suzuki India (MSIL), reported a total domestic
sales of 1,68,047 units in October, highlighting a highest-ever growth of
around 20 per cent year-on-year (YoY) as compared with 1,40,337 units in the
corresponding month last year.
Second largest passenger vehicle maker Hyundai Motor
India or HMIL has recorded a growth of 15 per cent YoY in domestic wholesales to
55,128 units in October as compared with 48,001 units in the same month last
year.
Hyundai Motor India recorded robust sales number of
55,128 units in the domestic market in October.
HMIL Chief Operating Officer Tarun Garg feels the
recent announcement of standardising of six airbags across all Hyundai models
and variants has been “extremely well received by our valued customers”.
Additionally, the supply situation is back to full
normalcy and network is geared up to delight customers with the delivery of
their favourite Hyundai cars, he added.
Tata Motors has reported a 6 per cent increase in
passenger vehicle sales. Of this, EV sales accounted for 11.2 per cent, growing
28 per cent year-on-year. However, commercial vehicle sales rose by just 4 per
cent.
M&M has reported a 35 per cent jump in passenger
vehicle sales. Medium-duty light commercial vehicle sales rose 29 per cent.
Besides, domestic sales of commercial vehicles recorded
the highest-ever with a growth of 22.5 per cent YoY.
“In October, we clocked the highest-ever volumes at
80,679 vehicles, a growth of 32 per cent. Both SUVs and CVs individually
achieved highest ever volumes for the third consecutive month at 43,708 and
25,715 vehicles respectively,” stated M&M Automotive Division president Veejay
Nakra.
The company is expecting continuous growth momentum in
November with the strong festive demand.
Toyota Kirloskar Motor (TKM) continued to record strong
performance with a rise of 66 per cent YoY. The company sold a total of 20,542
units in the domestic market and exported 1,337 units.
“This year, the offtake of festive season has been
very strong for both TKM and well as the industry. In the month of October, we
reported our sales of 21,879 units which is mainly driven by the festive season
push along with the strong market acceptance of the entire product line-up,
resulting in higher volumes,” said TKM Sales and Strategic Marketing Vice
President Atul Sood.
Bajaj Auto said its total sales increased by 19 per
cent year-on-year in October this year.
Two-wheeler maker Hero MotoCorp reported a 26.5 per
cent increase in total sales in October 2023.
NE Watch Desk
