 "Wedding season, rural traction drive car sales; PV wholesales up 4% in Nov")
The domestic passenger vehicle (PV) wholesales have increased by about four per cent year-on-year (Y-o-Y) in November to approximately 350,000 units due to continuing momentum after the festival season, ongoing wedding season and good demand in rural areas of the country, a top executive of the country’s largest carmaker Maruti said.
In November 2023, the domestic PV wholesales stood at 335,954 units.
“In November 2024, the domestic PV wholesales of the Indian automobile industry stood at about 350,000 units, which could be up or down by 5,000 units,” Partho Banerjee, Senior Executive Officer, Marketing and Sales, Maruti Suzuki India (MSIL), told Business Standard.
“The industry recorded favourable sales in November due to several factors. The momentum of October continued in November, ongoing rural demand, wedding season and increased sales of SUVs (sport utility vehicles), good response for limited edition models,” he noted.
Speaking about Maruti, Banerjee said, “MSIL’s rural penetration now stands at 48.7 per cent in November. It has increased about 2.2 per cent from the same month last year... SUV sales continue to increase for MSIL. In November, SUVs’ contribution in our total sales went up to 29 per cent. In the beginning of the financial year, it was 25.2 per cent.”
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He said that the automobile industry’s annual sales growth for calendar year 2024 is expected to remain at about 4.2 per cent, and it could be plus or minus 0.1 per cent. In 2023, the domestic PV wholesales stood at 4.108 million units.
Meanwhile, the domestic PV wholesales of Hyundai Motor India (HMIL) in November stood at 48,246 units, which was a drop of 2.4 per cent Y-o-Y. Tarun Garg, Chief Operating Officer, HMIL said that the company’s push towards “fortifying SUV supremacy” continued in November with SUVs contributing 68.8 per cent of its total domestic wholesales.
Mumbai-headquartered Tata Motors’s domestic PV wholesales in November stood at 47,117 units, which was an increase of 2.1 per cent Y-o-Y.
The domestic PV wholesales of Toyota Kirloskar Motor (TKM) in November stood at 24,446 units, a significant jump of 44.4 per cent YoY.
Sabari Manohar, Vice President (Sales, Service, Used Car Business), TKM), said that the domestic sales till now in 2024 have “exceeded” the company's expectations.
“Our diverse portfolio, spanning from hatchbacks to SUVs, continues to offer tailored mobility solutions that resonate with varying lifestyles... Moreover, exclusive year-end benefits of over ₹1 lakh on select models, including the Urban Cruiser Taisor, Toyota Glanza and Rumion (excluding CNG variants), available until December 31, 2024, have played a key role in driving robust sales momentum. This has been instrumental in providing customers with exceptional value and contributing to Toyota’s continued success in meeting market demand,” he added.