The Indian auto industry achieved a record-breaking sale in September with 363,733 cars and SUVs sold
- IBEF
- October 3, 2023
Indian automakers set a record for monthly sales in September, selling 363,733 cars and sport-utility vehicles (SUVs), as they expedited dealer dispatches from manufacturers to build stocks in advance of the key festivals of Dussehra and Diwali,
Sales increased by 2% during the month, restrained by a high year-ago base that witnessed strong post-pandemic pent-up demand.
As per Mr. Shashank Srivastava, Senior Executive Officer (Marketing and Sales) at Maruti Suzuki, the monthly sales of passenger vehicles was reported as the best-ever performance for the ninth straight month in September.
In September 2023, the Suzuki Motor Corp. division sold 150,812 units, up 1.6% from the 148,380 vehicles sold a year ago. Because of demand for its lineup of SUVs, including the Fronx, Jimny, Brezza, and Grand Vitara, the company actually sold more than a million vehicles for the first time in a half year.
Its competitors, Hyundai Motor India Limited (HMIL) and Mahindra & Mahindra (M&M) also reported record monthly sales in September.
HMIL recorded its best total monthly sales since the company’s inception in September 2023, marking an important turning point in the brand's history. In September 2023, the Korean carmaker sold 54,241 passenger vehicles in India. On the other hand, Mahindra's sales volume increased by a fifth to 41,267 units in September 2023.
According to Mr. Tarun Garg, Chief Operating Officer (COO), of Hyundai Motor India, “The ongoing festive season has resulted in a strong sales momentum, helping us achieve more than 9% growth YoY in domestic sales in September 2023.” He further added that Hyundai received around 80,000 bookings for its latest model- Exter, which is a micro-SUV. Almost two-thirds of the company’s sales came from SUVs, registering a 54% increase in the first half of 2023.
Moreover, Japan’s Toyota Motor Corp. Reported domestic sales growth of 44% in September 2023 at 22,168 vehicles.
Sales of commercial vehicles increased 13% to 37,214 units in September at Tata Motors. The Medium Commercial Vehicle (MCV) and Heavy Commercial Vehicle (HCV) segments saw a strong growth of 24% over Q2 of FY23, informed Mr. Girish Wagh, Executive Director of Tata Motors, fuelled by continued government infrastructure push, robust replacement demand, growth in core sectors, along with sustained growth from the e-commerce sector."
Furthermore, Mahindra tractor sales in the agricultural equipment market decreased 11% to 42,034 units in September 2023.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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