Maruti Suzuki and Mahindra post record sales in October on festive demand surge
Mumbai: Indian automakers Maruti Suzuki India (MSI) and Mahindra & Mahindra (M&M) reported record monthly sales in October, fuelled by festive season demand.
Mahindra & Mahindra reported sales of 96,648 units, a 20% year-on-year increase, while Maruti Suzuki India recorded sales of 2,06,434 units, a 4% rise compared to October last year, when it sold 1,99,217 units.
MSI’s exports for October reached 33,168 units, up from 21,951 units in the same month last year.
However, total domestic passenger vehicle sales—where MSI maintains its market leadership—were at 1,59,591 units in October, marking a 5% decrease from 1,68,047 units in October last year.
On the other hand, sales of sports utility vehicles (SUVs) have been increasing, indicating a growing preference among Indian buyers for larger vehicles.
MSI reported that utility vehicles, such as the Brezza, Grand Vitara, Ertiga, and XL6, achieved sales of 70,644 units last month, up from 59,147 units a year prior.
For M&M, October began with strong momentum as its Thar ROXX model received 1.7 lakh bookings within the first hour, and this enthusiasm extended across its SUV lineup throughout the festive season, said Veejay Nakra, President of M&M’s Automotive Division.
"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 noted.
The trend towards larger vehicles impacted MSI's mini-segment and compact car sales.
Mini-segment models like the Alto and S-Presso saw sales fall to 10,687 units from 14,568 units in October 2022. Compact cars, including the Baleno, Celerio, Dzire, Ignis, Swift, Tour S, and WagonR, registered sales of 65,948 units, down from 80,662 units in the same month last year.
MSI’s Eeco van recorded sales of 11,653 units in October, down from 12,975 units a year ago, while the Super Carry light commercial vehicle sold 3,539 units, compared to 3,894 units last October.
As a leading utility vehicle producer, M&M dispatched 80,679 units to dealerships in October last year.
This October, it reported domestic SUV sales of 54,504 units, reflecting a 25% growth from 43,708 units in October 2022.
Total passenger vehicle wholesales, including exports, reached 55,571 units, while domestic commercial vehicle sales were at 28,812 units.
In the Farm Equipment Sector (FES), M&M reported record monthly domestic tractor sales of 64,326 units, compared to 49,336 units in October 2022.
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 the festive season has lifted sentiment, and the company anticipates continued strong demand in the coming months.
Last month, the company exported 1,127 units.
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