Carmakers record healthy growth in October

Carmakers have returned to the growth phase in car sales during the month of October as the Navaratri festival aided the sales in the month.

Passenger car leader Maruti Suzuki has reported a robust 18.9% growth in October sales at 1,82,448 units. The total sales include domestic sales of 166,825 units and 6,037 units for other OEMs. In addition, the company exported 9,586 units in October. During the same month last year, the company had sold 153,435 units.

Maruti’s sales growth in October was led by compact vehicles such as WagonR, Swift, Celerio, Ignis, Baleno, Dzire, and Tour S. In this segment, the company recorded a year-on-year 26.6% growth at 95,067 units.

However, during the seven-month period between April and October 2020, the company has sold 6,52,177 units compared to 8,94,346 units in the corresponding period last year, showing a decline of 27.1%.

The second-largest carmaker Hyundai Motor India has recorded a 13.2% rise in domestic sales at 56,605 units as against 50,010 units in October 2019.

However, its export sales declined by 10.1% to 12,230 units. The cumulative sales growth was 8.2% in the month.

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

Toyota Kirloskar Motor has sold 12,373 units in October 2020, recording a growth of 4.3% over the same month last year when it sold 11,866 units. However, compared to the sales in September this year, its growth was 52%. It had sold 8,116 units in September this year.

Premium carmaker Honda Cars India Ltd sold 10,836 units in October as against 10,010 units in the corresponding month last year, registering a growth of 8.3%. It also exported 84 units in the month.

Tata Motors recorded a year-on-year growth of 90% at 10,887 units in October as against 5,725 units sold in the same month last year. The sales included 4,246 cars.

MG Motor India has recorded its highest-ever monthly sales at 3,625 units registering a growth of 50% over September sales of 2,410 units. In October last year, MG Motor sold 3,536 units.

Meanwhile, Mahindra & Mahindra reported a 14.52% decline in total sales to 44,359 units in October. It had sold 51,896 units in the same month last year.