It has been a brisk festive season for carmakers with sales touching new highs in October.
Market leader, Maruti Suzuki, reported retail sales of 140,337 units, up 28.7% from 108,991 units in October ’21. Its closest rival, Hyundai, posted a tally of 48,001 vehicles, an increase of 29.6% YoY with Tata Motors a very close third at 45,217 units, a jump of 33.2% from 33,925 units reported in the same period last year.
Mahindra & Mahindra also saw a significant growth of 60% YoY with retails of 32,298 units, compared to 20,130 units in October '21. Meanwhile, Kia India registered a 43% increase with sales of 23,323 units while Honda Cars India posted sales of 9,543 units, up 18% from the corresponding month last year.
Toyota Kirloskar Motor showed a marginal increase of 5.6% to close the month with retails of 13,143 units against 12,440 units in the same period last year. MG Motor India posted a 53% YoY growth with retails of 4367 units.
The company also reported its highest production rate of 5008 units in the month including 784 units of the MG ZS EV, an all-time high. It is now clear that MG is stepping on the gas in the EV arena where Tata Motors continues to lead the segment.
Skoda Auto India too posted a growth by 29% YoY with retails of 4,173 vehicles compared to 3,065 units in the corresponding month last year. Nissan Motor India was, however, down by 21.7% YoY in the domestic market with sales of 3,061 units in October. However, its production for the month was 10,011 units, 22% higher than the corresponding month last year.
Rakesh Srivastava, Managing Director, Nissan Motor India, said the festive season saw a strong momentum with customer preference for early delivery and ease of finance. Preferences were for SUVs specially amongst the first time and replacement buyers. “We are confident that demand will continue to rise with an improvement in economic growth, customer sentiment and with improvement in supply,” he added.
Commercial Vehicles
As for commercial vehicles, Ashok Leyland posted a 80% growth in October with retails of 13,860 units as compared to 10,043 units in the same month last year. M&M grew by 39% to 20,980 units from 15,077 units in October last year. Tata Motors, on the other hand, was down 2% YoY with 32,912 units from last year’s 33674 units.
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