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Carmakers post strong wholesales growth in Oct. amid festivals

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Major car manufacturers posted strong growth in wholesales during October on the back of festive demand however two-wheeler sales continued to remain subdued.

Market leader Maruti Suzuki India on Tuesday said its total sales in the domestic market, including sales of passenger vehicles, LCV and sales to other OEMs, grew 26% to 1,47,072 units last month. It added that the shortage of electronic components had a minor impact on the production of vehicles, mainly in domestic models. The company’s Senior Executive Officer (Marketing & Sales) Shashank Srivastava said SUVs continued to lead the sales and the sales of entry-level models – which have been under pressure for the past few months – also witnessed increased demand.

He added that the company had close to 3.9 lakh pending bookings while the industry figure stood at around 8 lakh units.

Hyundai Motor India Ltd. (HMIL) said its sales grew 29.6% to 48,001 units compared to 37,021 units in October 2021. The company’s Director (Sales, Marketing & Service) Tarun Garg said semiconductor situation was improving and Hyundai is set to register record domestic sales volume in CY 2022.

Home-grown auto major Tata Motors said its PV sales, including electric vehicles, in the domestic market were up 33% at 45,423 units as compared to 34,155 units in the same month last year.

Likewise, M&M posted a 60% rise in domestic passenger vehicle sales at 32,298 units in October 2022 as against 20,130 units sold in the same month last year. “Our sales volume continued to grow in October on the back of strong festive demand. We sold 32,226 SUVs in October, registering a growth of 61% fueled by robust demand across our portfolio,” M&M President, Automotive Division, Veejay Nakra said.

Kia India reported a 43% increase at 23,323 units in October, while Honda Cars India posted 18% higher wholesales at 9,543 units in the last month. For Skoda Auto, the sales were up 11% to 3,389 units.

In the two-wheeler category, market leader Hero MotoCorp saw a fall of 16% in its domestic sales to 4,42,825 units, while Honda Motorcycle and Scooter India’s said its sales stood at 4,25,969 units compared with 3,94,645 units in October last year.

Atsushi Ogata, Managing Director, President & CEO, Honda Motorcycle & Scooter India said, “This year’s festival season has ushered in a period of real growth & positive sentiment after a challenging period of two-years. With celebrations in full swing and a strong growth prospect for the coming times, we are truly elated to witness such strong demand pouring in from the market.”

For TVS Motor Company, the domestic two-wheeler sales registered a growth of 7% to 2,75,934 units.

Suzuki Motorcycle India reported a 27% rise in total sales to 87,859 units in October while Royal Enfield posted 88% growth in the domestic market to 76,528 units.



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