Automobile manufacturers, including Maruti Suzuki India, Mahindra & Mahindra and Toyota Kirloskar Motor, on Friday reported improved sales in October driven by festive season demand amid a prolonged slowdown in the sector.
The country's largest carmaker Maruti Suzuki India (MSI) posted a growth of 4.5 per cent in its domestic wholesales at 1,44,277 units in October as against 1,38,100 units in same period last year.
This is the first time in the last seven months that the company has seen an increase in its domestic sales.
Despite being in the negative territory, Mahindra & Mahindra managed to arrest decline in sales, posting 11 per cent dip at 49,193 units last month as compared to 55,350 units in October 2018.
In September the company had reported a decline of 21 per cent in domestic sales at 40,692 units.
"The festive month of October was excellent for Mahindra, with retail volume exceeding wholesale by approximately 40 per cent. This robust retail performance was contributed by both passenger and commercial vehicles," M&M Chief of Sales and Marketing, Automotive Division, Veejay Ram Nakra said.
Similarly, Toyota Kirloskar Motor reported 6 per cent decline in domestic sales at 11,866 units as compared to 12,606 units in the corresponding month last year.
Toyota Kirloskar had reported total sales of 10,203 units in September this year.
Commenting on the sales performance, TKM Deputy Managing Director N Raja said customer demand witnessed a spike in the festive season, especially during Dhanteras and Diwali.
"The boost in customer sentiments has enabled an upward trend in our sales performance as compared to the last few months of slowdown. It was quite encouraging to see the marked improvement in customer orders on account of festive season," he said.
New entrant MG Motor India reported retail sales of 3,536 units of its SUV Hector in October.
In the two wheeler segment, Bajaj Auto reported a dip of 13 per cent in the domestic sales at 2,78,776 units as against 3,19,942 in October last year. Similarly, TVS Motor Company reported 25.45 per cent decline in domestic two-wheeler sales at 2,52,684 units as compared to 3,38,988 in the year-ago period.
Commercial vehicle maker Ashok Leyland reported domestic sales of 9,074 units last month as compared to 14,341 units in the year-ago month, down 37 per cent.
Disclaimer: No Business Standard Journalist was involved in creation of this content
