Automobile sales in India rose by 20pc in October from the prior year on the back of increased demand during the Dusshera festive. Top auto manufacturers in India sold a total of 2.14mn units across vehicle segments. Indian automakers had ramp-up production post the COVID-19 pandemic in anticipation of a demand revival in the third quarter amid festival season.
Car manufacturers, Maruti Suzuki and Hyundai Motors have clocked a growth of 19pc and 13pc in sales in October compared to the prior year. Maruti sold 182,448 units in the month while Hyundai sold 56,605 units. Toyota Kirloskar’s sales rose 4pc in October to 12,373 units from the prior year.
In October, Mahindra and Mahindra sold 44,359 units including passenger vehicles and commercial vehicles which dipped 15pc from the previous year. Sales of cars and vans took a hit in October as 305 units were sold, down 55pc from the previous year. On the other hand, utility vehicles sales rose 3pc to 18,317 units in the same month from 2019. M&M’s farm segment unit sales grew 2pc to 46,558 units in October from the prior year.
All two and three-wheeler manufacturers in India reported a growth in October on previous year, except Royal Enfield. Hero MotoCorp reported a jump of 35pc in October sales at 806,848 units followed by TVS Motor which reported a 22pc growth in sales. Bajaj Auto sold 512,038 units in October, up 11pc from the previous year.
Escorts, Ashok Leyland and Eicher Motors which manufacture heavy vehicles also reported a growth of 2pc, 1pc and 2pc, respectively, in October sales over the previous year.
|India auto sales in October|
|Top Indian automakers||Oct, 2020||Oct, 2019||Change YoY|
|Mahindra & Mahindra (excluding farm sector)||44,359||51,896||-15%|
|Mahindra & Mahindra farm equipment sector||46,558||45,433||2%|
|Source: Company release|