Car sales up marginally; passenger vehicles up 4.48 per cent in Oct
Total vehicle sales across categories grew by 14.96 per cent
In the April-October period, total vehicle sales across categories grew by 14.96 per cent at 1,38,56,370 units as against 1,20,52,750 units in the year-ago period.
New Delhi:
Domestic passenger vehicle sales rose 4.48 per cent in October with manufacturers resorting to inventory correction after pushing stocks in the previous month ahead of festive season.
According to Society of Indian Automobile Manufacturers (SIAM) passenger vehicle sales last month were at 2,80,677 units as against 2,68,630 units in October last year. Domestic car sales were up marginally to 1,95,036 units compared to 1,94,158 units in October last year, according to data released by SIAM.
"In September there was stock built-up ahead of the festive season but in October it wasn't the case. Therefore, the wholesale numbers of last month are a reflection of the stock adjustment undertaken by the companies," SIAM Director General Vishnu Mathur told reporters here.
He said the auto industry is satisfied with the way all segments of the vehicles have grown so far this fiscal.
"It has been a pretty satisfactory month for us. Even in the heavy and medium commercial vehicles segment, we have witnessed 1.3 per cent growth during the April-October period, which was earlier in the negative territory," Mathur said.
In the April-October period, total vehicle sales across categories grew by 14.96 per cent at 1,38,56,370 units as against 1,20,52,750 units in the year-ago period.
During October, market leader Maruti Suzuki India saw its car sales sales decline by 5.17 per cent at 92,886 units as against 97,951 units in the same month last year. The company's utility vehicle sales, however, jumped 90.86 per cent to 18,008 units as against 9,435 units in October last year.
Rival Hyundai Motor India Ltd posted a growth of 3.56 per cent in its domestic car sales at 41,126 units as compared with 39,709 units in the year-ago period. Its utility vehicles sales were at 8,890 units as against 7,306 units last year, up 21.68 per cent.
Utility vehicles major Mahindra & Mahindra saw its sales up 3.24 per cent in the category at 23,399 units last month as against 22,664 units in the year-ago month. Its car sales were at 462 units as compared with 312 units last year, up 48 per cent, as per SIAM data.
Total two-wheeler sales in October increased 8.72 per cent to 18,00,672 units as compared with 16,56,304 units in the year-ago month. SIAM said last month motorcycle sales grew by 7.37 per cent to 11,44,516 units as against 10,65,925 units a year earlier.
Market leader Hero MotoCorp saw its bike sales at 5,61,427 units last month as against 5,21,118 units in October last year, up 7.74 per cent. Rival Bajaj Auto's motorcycles sales were at 2,12,997 units as against 2,02,042 units in the same month last year, up 5.42 per cent.