In October 2024, the Indian automobile market witnessed a robust increase in sales across major manufacturers, largely driven by festive demand and the launch of new models.
The Hyundai Motor India recorded a 2% increase in total sales, reaching 70,078 units compared to 68,728 units in October 2023. Domestic sales saw a slight uptick to 55,568 units, while exports rose by 6.7% to 14,510 units. The company’s SUV portfolio performed exceptionally well, with sales peaking at 37,902 units, including a record 17,497 units for the Hyundai Creta.
JSW MG Motor India reported an impressive 31% year-on-year growth in wholesales, totalling 7,045 units. This surge was significantly bolstered by new energy vehicles (NEVs), which comprised over 70% of total sales. The newly launched electric crossover utility vehicle, Windsor, contributed 3,116 units in its debut month.
Toyota Kirloskar Motor also enjoyed a substantial 41% increase in total sales, reaching 30,845 units compared to 21,879 units in the same month last year. Domestic sales amounted to 28,138 units, while exports stood at 2,707 units. Strong demand for the company’s SUVs and MPVs, along with the introduction of limited-edition models for the festive season, fuelled this growth.
Maruti Suzuki India achieved its highest-ever monthly sales, reporting 206,434 units-a 4% increase year-on-year. Despite a decline in mini and compact car sales, utility vehicles saw a significant boost with 70,644 units sold.
The automaker also experienced a notable increase in exports, which rose to 33,168 units.
Mahindra & Mahindra celebrated its best-ever monthly sales with 96,648 units, marking a 20% increase from the previous year. The company’s domestic SUV sales reached 54,504 units, a growth of 25%. The Thar ROXX, launched recently, garnered significant attention with 1.7 lakh bookings within the first hour. Additionally, Mahindra’s Farm Equipment Sector reported record tractor sales, driven by favourable agricultural conditions.
The festive season has proven advantageous for multiple automakers, leading to impressive sales figures and positive market sentiment. The strong demand for SUVs and NEVs highlights a robust recovery and growth trajectory for the Indian automobile industry as it moves into the final months of the year.
