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Tuesday, November 24, 2020

October sales rise for automakers, festive buying propels domestic numbers

During the Navratri period, while MSI retailed nearly 60 per cent of its total domestic sales in October, Hyundai retailed nearly 50 per cent of its domestic sales in the 10-day period.

By: ENS Economic Bureau | New Delhi | Updated: November 2, 2020 10:52:13 am
Signalling a sharp rebound in rural demand, Hero MotoCorp sold a record of 8,06,848 vehicles in October — its highest ever monthly sales in a single month. (Representational Image)

Festive boost, alongside the pent-up demand and purchase from first time buyers, saw all major auto manufacturers report a jump in their domestic sales in October.

While Maruti Suzuki India Ltd (MSI) announced a 17.6 per cent rise in its domestic passenger vehicle sales at 1,63,656 units in October, Hyundai Motors announced its highest ever monthly sale of 56,605 units in the domestic market, witnessing a 13.2 per cent growth over the corresponding month last year.

Signalling a sharp rebound in rural demand, Hero MotoCorp sold a record of 8,06,848 vehicles in October — its highest ever monthly sales in a single month.

Among passenger vehicle (PV) manufacturers, while Honda Cars India and Toyota Kirloskar Motors announced 8.3 per cent and 4.2 per cent rise in sales, respectively, in October, Mahindra & Mahindra and MG Motors too announced year-on-year sales growth of 1 per cent and 6 per cent, respectively.

While manufacturers started witnessing revival in sales in August and September on account of demand for small cars from first time buyers and those looking to avoid public transportation amidst the Covid-19 pandemic, October got the festive shot as a majority of the sales came in the 10 days of Navratri. Manufacturers feel that November sales will continue to be strong as traditionally buyers plan their vehicle purchase during Diwali.

During the Navratri period, while MSI retailed nearly 60 per cent of its total domestic sales in October, Hyundai retailed nearly 50 per cent of its domestic sales during the 10-day period. Tata Motors retailed 10,887 units during the Navratri period this year, an increase of 90 per cent over 5,725 units last year. Kia Motors India said it witnessed a 224 per cent increase in retail sales during the 10-day period at 11,640 units.

Rajesh Goel, director—marketing & sales, Honda Cars India, said, “The festive buying picked up from Navratra in mid- October and we are focusing on maximising deliveries during this period … We expect this demand to continue through Diwali which will further accentuate growth for us and the industry at large.”

Naveen Soni, senior VP—sales & service, Toyota Kirloskar Motors, said, “The month of October has been our best month so far since March 2020. The festive season has proved to be bullish as we witness demand surging, month-on-month. This has been true of our retails too as order flow has been smooth, from the very beginning.”

For MSI, while sales of mini cars — comprising Alto and S-Presso — declined marginally to 28,462 units in October as against 28,537 units in the same month last year, sales in the compact segment — that includes models such as Swift, Celerio, Ignis, Baleno and Dzire — saw a 19.2 per cent increase to 95,067 units as against 75,094 cars in October last year.

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