Festive demand boosted a strong performance in October as leading automakers reported significant year-on-year growth. Maruti Suzuki, the country’s largest passenger vehicle manufacturer, reported a 20% YoY increase in domestic sales, while Hyundai Motor India recorded a 15% growth in domestic wholesales.

Maruti Suzuki India (MSIL), reported a total domestic sales of 1,68,047 units in October, showing 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.

The second largest PV maker, Hyundai Motor India (HMIL), said it has recorded a growth of 15 per cent YoY in domestic wholesales (dispatches to dealers) to 55,128 units in October as compared with 48,001 units in the same month last year.

“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 standardising of six 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,” Tarun Garg, Chief Operating Officer, HMIL, said.

Tata Motors has reported a 6% increase in passenger vehicle sales at 48,637 units. Of this, EV sales accounted for 11.2% at 5465 units, growing 28% year-on-year. However, commercial vehicle sales rose by just 4% to 34,317 units.

M&M has reported a 35% jump in passenger vehicle sales at 43,708 units. Medium-duty light commercial vehicle sales rose 29% to 20,349 units.

Domestic sales of commercial vehicles (CV) also recorded the highest-ever at 25,715 units during the month, a growth of 22.5 per cent YoY as compared with 20,980 units in October 2022.

“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. While the strong festive demand should see us continue our growth momentum in November, we will keep a close watch of select supply related challenges,” Veejay Nakra, President, Automotive Division, M&M, said.

Toyota Kirloskar Motor (TKM) reported yet another month of strong performance with sales of 21,879 units, indicating a rise of 66 per cent YoY in comparison with 13,143 units in October 2022. The company sold a total of 20,542 units in the domestic market and exported 1337 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,” Atul Sood, Vice President of Sales, and Strategic Marketing at TKM, said.

Bajaj Auto said its total sales increased by 19 per cent year-on-year to 4,71,188 units in October this year. The company had dispatched a total of 3,95,238 units in October 2022. Its total dispatches to dealers last month rose by 36 per cent to 3,29,618 units compared to 2,42,917 units in the same month last year, Bajaj Auto said in a regulatory filing. The company said it was its highest-ever monthly wholesales to date.

Two-wheeler maker Hero MotoCorp reported a 26.5 per cent increase in total sales at 5,74,930 units in October 2023, as compared to 4,54,582 units in the same month last year. Motorcycle sales were at 5,29,341 units last month, as compared to 4,19,568 units in October 2022, up 26.2 per cent, Hero MotoCorp said in a regulatory filing.