Auto majors Maruti Suzuki, Mahindra report best-ever October sales

Indian automakers Maruti Suzuki India (MSI) and Mahindra & Mahindra (M&M) reported record monthly sales in October, driven by festive demand.

 

Mahindra & Mahindra announced sales of 96,648 units, a 20 per cent year-on-year increase, while Maruti Suzuki India sold 2,06,434 units, marking a 4 per cent rise over October last year, when it sold 1,99,217 units. MSI's exports in October stood at 33,168 units, up from 21,951 units in the same month last year.

 

However, total domestic passenger vehicle sales—where MSI holds market leadership—were 1,59,591 units in October, down 5 per cent from 1,68,047 units in October last year. In contrast, sales of sports utility vehicles (SUVs) have been rising, reflecting Indian buyers' preference for larger cars. MSI reported that utility vehicles, including the Brezza, Grand Vitara, Ertiga, and XL6, saw sales of 70,644 units last month, compared to 59,147 units a year earlier.

 

For M&M, the month began on a high note with its Thar ROXX garnering 1.7 lakh bookings in the first 60 minutes, and positive momentum continued across its SUV portfolio throughout the festive season, M&M President, Automotive Division, Veejay Nakra said. "We are excited to have achieved our highest-ever SUV sales of 54,504 vehicles in October, a growth of 25 per cent, and our highest-ever total volume of 96,648, a growth of 20 per cent," he added.

 

The shift towards larger vehicles also impacted MSI's mini-segment cars and compact car sales. Mini-segment cars, including the Alto and S-Presso, saw sales decline to 10,687 units from 14,568 units in October 2023. Compact cars, including the Baleno, Celerio, Dzire, Ignis, Swift, Tour S, and WagonR, sold 65,948 units, down from 80,662 units in the year-ago month.

 

Sales of the Eeco van were at 11,653 units in October, down from 12,975 units last year, while the light commercial vehicle Super Carry recorded 3,539 units, compared to 3,894 units in the same month last year.

 

As a leading utility vehicle manufacturer, M&M dispatched 80,679 units to dealers in October last year. It reported domestic SUV sales of 54,504 units, a 25 per cent growth from 43,708 units in October last year. Overall passenger vehicle wholesales, including exports, stood at 55,571 units. Domestic commercial vehicle sales totalled 28,812 units in October, M&M said.

 

In its Farm Equipment Sector (FES), M&M reported record monthly domestic sales of 64,326 tractors, compared to 49,336 units in October 2023. Total tractor sales, including exports, reached 65,453 units, up from 50,460 units in the same period last year.

 

“The tractor industry has experienced robust growth driven by several positive factors, including a strong monsoon, a good Kharif crop, high reservoir levels supporting Rabi crops, and the government's increased MSP for key Rabi crops," said Hemant Sikka, M&M President of FES. He added that with the festive season boosting sentiment, the company expects demand to remain strong in the coming months. The company exported 1,127 units last month.