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Maruti, Hyundai Motor report double digit sales growth in October

Maruti Suzuki India and Hyundai Motor India posted double digit growth in October wholesales on the back of pent up demand and improved buying sentiment in the festive season.

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Maruti Suzuki India | Hyundai Motor

Press Trust of India  |  New Delhi 

maruti suzuki, cars, automobile

and India posted double digit growth in October wholesales on the back of pent up demand and improved buying sentiment in the festive season.

Honda Cars India, Toyota Kirloskar Motor and Mahindra & Mahindra also reported growth in domestic passenger vehicle sales last month.

The country's largest carmaker (MSI) said its sales increased by 19.8 per cent in the domestic market last month to 1,72,862 units compared with 1,44,277 units in October 2019.

The company's sales of mini cars, comprising Alto and S-Presso, declined marginally to 28,462 units as compared to 28,537 units in the same month last year, the auto major said.

However, compact car sales, which includes models such as Swift, Celerio, Ignis, Baleno and Dzire, increased by 19.2 per cent to 95,067 units as against 75,094 cars in October last year.

Utility vehicle sales, including Vitara Brezza, S-Cross and Ertiga, also rose 9.9 per cent to 25,396 units as compared with 23,108 units in the year-ago month, MSI said.

India reported its best ever monthly sales in the domestic market last month.

The country's second largest carmaker sold 56,605 units last month, up 13.2 per cent from 50,010 units in October 2019, the company said.

The company had reported the previous highest monthly domestic sales number in October 2018 with 52,001 units.

"The October month sales performance has set a positive tone for the overall business environment and we are confident that the company will continue to strongly contribute towards sustainable growth of the economy, community and all its stakeholders," India Director (Sales,Marketing & Service) Tarun Garg said.

Honda Cars India said its wholesales in the last month grew by 8.3 per cent to 10,836 units.

"We have seen positive sales momentum in line with market sentiment and our October results have been as per our plan," Honda Cars India Ltd (HCIL) Senior Vice-President and Director (Marketing & Sales) Rajesh Goel said.

The festive buying picked up from Navratra in mid-October and the company focused on maximising deliveries during this period, he added.

Toyota Kirloskar Motor (TKM) said it sold 12,373 units in the domestic market last month, up 4.27 per cent from 11,866 units in October 2019.

"The festive season has proved to be bullish as we witness demand surging, month on month. This has been true of our retails too as order flow has been smooth, from the very beginning," TKM Senior Vice President (Sales & Service) Naveen Soni said.

The fact that the company's wholesales have been registering an average growth of close to 50 per cent every month gives it the confidence that the demand for bigger vehicles is rising too, with both the Innova Crysta and the Fortuner clocking promising figures as compared to earlier months this year, he added.

Besides, Mahindra & Mahindra reported 1 per cent increase in passenger vehicle sales in the domestic market last month at 18,622 units, as compared with 18,460 units in October 2019.

"Our brands Scorpio, Bolero and XUV 300 continue to do well, while the bookings for the all-new Thar has set new records within just a month of its launch," M&M Chief Executive Officer Automotive Division Veejay Ram Nakra said.

For the company, the festive season has started on a positive note with deliveries and bookings being higher than last year, he added.

"Going forward, this augurs well for a robust festive demand which in turn will help the industry in the short term," Nakra said.

MG Motor India reported a 6 per cent increase in its retail sales at 3,750 units in October as compared with 3,536 units in the same month last year.

In the two wheeler segment, the country's largest two wheeler maker Hero MotoCorp reported its best ever monthly sales in October.

The company sold 8,06,848 units last month, up 34.64 per cent from 5,99,248 units in October 2019.

"A positive turnaround in customer sentiments particularly for motorcycles across markets, continued government policy support and a credible resumption of supply chain, logistics and business operations have enabled the company to achieve record numbers during the auspicious festive period," the company said.

With the higher dispatches during the month, the company's customer touch points across the country now have adequate inventories in line with market demand in the ongoing festival period, it added.

Niche bike maker Royal Enfield, however, reported a 7 per cent decline in domestic sales at 62,858 units last month as compared with 67,538 units in October 2019.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Sun, November 01 2020. 19:43 IST
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