scorecardresearchStrong festive demand drove PV sales in October but two-wheelers lag behind: Report

Strong festive demand drove PV sales in October but two-wheelers lag behind: Report

Updated: 02 Nov 2022, 10:28 AM IST
TL;DR.
Tata Motors said its PV sales, including electric vehicles, in the domestic market were up 33%. In the two-wheeler category, Hero MotoCorp on Tuesday reported a 17 per cent dip in its total sales. Bajaj Auto reported a 10 per cent decline
Maruti Suzuki India reported a 26% increase in its domestic sales at 1,47,072 units last month as against 1,17,013 units in the year-ago period.

Maruti Suzuki India reported a 26% increase in its domestic sales at 1,47,072 units last month as against 1,17,013 units in the year-ago period.

Passenger vehicle sales saw robust growth in October, with mid-segment cars and SUVs grabbing the festive demand, which also lifted the entry-level category, but two-wheelers remained subdued, reflecting the state of the economy, PTI reported, quoting industry data.

Automobile makers led by Maruti Suzuki, Hyundai, and Tata Motors, along with Mahindra & Mahindra, Kia India, and Honda Cars India, on Tuesday reported strong sales of passenger vehicles in the domestic market, riding on strong festive season demand, the report said. 

However, in the two-wheeler segment, most of the manufacturers, such as Hero MotoCorp, Bajaj Auto, Honda Motorcycle and Scooter India, and TVS Motor, reported subdued sales during the festive season, which normally leads to the high takeoff of motorcycles and scooters.

Maruti Suzuki India reported a 26% increase in its domestic sales at 1,47,072 units last month as against 1,17,013 units in the year-ago period.

Hyundai Motor India Ltd reported a 29.6 per cent increase in domestic PV sales last month, with 48,001 units sold compared to 37,021 units in October 2021. Tata Motors said its PV sales, including electric vehicles, in the domestic market, were at 45,423 units as compared to 34,155 units in the same month last year, up 33 per cent.

Similarly, M&M reported a 60 per cent 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. Kia India reported a 43 per cent rise at 23,323 units in October as compared to 16,331 units dispatched to dealers in the same month last year.

Likewise, Honda Cars India also reported an 18 per cent increase in domestic wholesales at 9,543 units in October. The company has dispatched 8,108 units in the domestic market since October last year.

Skoda Auto India also said its wholesale increased 11 per cent to 3,389 units last month as compared with 3,065 units in October last year.

In the two-wheeler category, Hero MotoCorp on Tuesday reported a 17 per cent dip in its total sales at 4,54,582 units last month as compared with 5,47,970 units in October 2021.

In the domestic market, the company's dispatches to dealers stood at 4,42,825 units, down 16 per cent from 5,27,779 units in the year-ago period.

Bajaj Auto reported a 10 per cent decline in total sales at 3,595,238 units in October. TVS Motor Company registered a growth of 2 per cent with sales increasing from 3,55,033 units in October last year to 3,60,288 units in October 2022.

Similarly, Honda Motorcycle and Scooter India's total dispatches stood at 4,49,391 units as compared with 4,32,229 units in October last year.

Suzuki Motorcycle India reported a 27 per cent rise in total sales at 87,859 units in October 2022.

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Article
Passenger vehicle sales in September 2022
First Published: 02 Nov 2022, 10:28 AM IST