Festive cheers as auto companies post record sales in October

The festive cheers have brought smiles to the auto sector, with a majority of companies recording a rise in their overall sales in the month of October 2023. India's largest carmaker Maruti Suzuki India Limited saw the highest-ever monthly sales volume at 199,217 units, up 16% from 167,520 in October last year.

The company, however, sold 95,925 passenger cars in October 2023, down 4.5% from 1,00,505 cars sold in the same period last year.

In the domestic market, Maruti Suzuki also recorded its "highest ever monthly domestic sales" of 171,941 units. Besides, sales to other OEMs and exports stood at 5,325 units and 21,951 units, respectively.

Tata Motors registered total sales of 82,954 units in October 2023, with commercial vehicle sales growing 4% year-on-year at 34,317 and passenger sales rising 7% YoY to 48,637 units.

In the domestic & international markets together, Tata Motors sold 82,954 vehicles in October 2023, compared to 78,335 units during October 2022, thereby increasing 5.5%. The domestic sales, however, surged 6% to 80,825 compared to 76,537 in the year-ago period.

Tata Motors says the domestic sale of MH&ICV vehicles in October 2023, including trucks and buses, stood at 15,211 units, compared to 13,251 units in October 2022. Total sales for MH&ICV domestic & international business was 16,048 units, compared to 13,940 units in October 2022.

Mahindra & Mahindra sold 43,708 passenger vehicles in the domestic market in October 2023, recording a 35% change as compared to 32,298 units sold in the same period last year.

M&M's overall auto sales for October 2023 were at 80,679 vehicles, a growth of 32%, including exports. In the utility vehicles segment, Mahindra recorded the highest sales for the fourth month. In October, the company sold 43,708 vehicles in the domestic market, a growth of 36% and overall, 44,264 vehicles, including exports. The domestic sales for commercial vehicles stood at 25,715 units, the highest-ever.

Veejay Nakra, president, Automotive Division, M&M Ltd., says in October, the company clocked the highest-ever volumes at 80,679 vehicles, a growth of 32%. "Both SUVs and CVs achieved highest ever volumes for the third consecutive month at 43,708 and 25,715 vehicles, respectively." He adds that while the strong festive demand should see the company continue growth momentum in November, it's keeping a close watch on select supply-related challenges.

South Korean giant Hyundai Motor's India unit, Hyundai Motor India saw a 14.8% rise in its monthly sales at 55,128 in October 2023, compared to 48,001 units sold in the year-ago period. Hyundai Motor India registered total sales of 68,728 units in the said period, including domestic sales of 55,128 units and export of 13,600 units, which amounts to an 18.48% increase in overall sales.

Tarun Garg, COO, Hyundai Motor India, says the recent announcement of standardising 6 airbags across all Hyundai models and variants has been extremely well received by its 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,” adds Garg.

Toyota Kirloskar Motor (TKM) sold 21,879 units in the month, recording a sharp rise of 66% as compared to 13,143 units sold during the same period last year. In total, TKM sold 20,542 units in the domestic market and exports account for 1,337 units.

Kia India, on the other hand, reported its 4th highest-ever monthly sales, with 24,351 unit sold in October. The onset of festivities and strong growth recorded by the new Seltos helped Kia to record 4.41% YoY growth, compared to the 23,323 units sold in the corresponding month of the last year. Hardeep Singh Brar, national head, sales & marketing, Kia India says: "Products like the Seltos, Sonet and Carens continue to dominate in their respective segment, despite multiple new launches by competition, is a major accomplishment."