Auto companies betting big on festive sales of October 2024 after a sluggish run through August and September this year were not disappointed.
Maruti and Mahindra seem to have made the most of the festive demand.
With all the festivites starting from Navratri to Diwali bunched up in October this year, the companies have managed to offload stocks and will return to a healthy level of inventory of 30 days after hitting a high of 80 days stocks in the sales channel in September.
Maruti Suzuki India Limited (MSIL) crossed the two lakh milestone of sales in a month.
The company sold a total of 206,434 units, which is its highest ever monthly sales volume.
Total sales in the month include domestic units of 163,130 vehicles, sales to other OEM of 10,136 units and the highest ever monthly exports of 33,168 units.
Mahindra & Mahindra announced that its overall auto sales for the month of October 2024 stood at 96,648 vehicles, including exports.
In the utility vehicles segment, Mahindra sold 54,504 vehicles in the domestic market, a growth of 25 per cent and overall, 55,571 vehicles, including exports. The domestic sales for commercial vehicles stood at 28,812.
Hyundai Motor India also cashed in on the popularity of SUVs registering a sale of 70,078 units in October, which is its third highest monthly sales since inception.
The company sold a record number of 37,902 SUVs with the Creta contributing 17,497 units.
Tata Motors sales in the domestic & international market for October 2024 stood at 82,682 vehicles, compared with 82,954 units during October 2023.
Ola Electric
Ola Electric on Friday said it has sold over 50,000 units and registered 41,605 electric vehicles (EVs) in October according to Vahan data on strong festive season sales.
For the Bhavish Aggarwal led EV firm, these numbers should come as a big relief amid reports of service quality issues of its scooters.
The company is now in the process of beefing up its service infrastructure.
Ola Electric said in a statement that with a market share of 30 per cent, it has cemented its market leadership in the EV two-wheeler segment.
With inputs from our Mumbai bureau
