Car Sales: India’s carmakers recorded their highest-ever monthly domestic sales in October, delivering 4.70 lakh units, a 17% year-on-year (YoY) surge driven by strong Diwali demand and the recent GST rate cut. This marks the first full month after the government slashed GST on small cars from 28% to 18% and removed the additional cess, significantly lifting consumer sentiment and showroom footfalls.
Automakers operated at full capacity throughout October, with several extending business hours to meet demand, industry executives said.
Maruti Suzuki leads with strong bookings
Maruti Suzuki, India’s largest carmaker, reported a 10% rise in dealer dispatches to 1,76,318 units, driven by strong demand for Brezza and Swift models. The company said it currently has 3.5 lakh pending bookings across models.
Mahindra, Tata, and Toyota post robust growth
Mahindra & Mahindra saw a 31% increase in dealer dispatches to 71,624 units, led by its popular SUV lineup including the Thar, Bolero, and Bolero Neo.
Tata Motors reported a 27% jump in wholesales to 61,295 units, with SUVs contributing a record 77% of sales. Its electric vehicle (EV) portfolio also hit an all-time high, with EV penetration reaching 15%. The company said it sold over 1 lakh vehicles between Navratri and Diwali, marking a 33% YoY growth.
Toyota Kirloskar Motor achieved the strongest growth among major players, up 43% to 40,257 units, led by the Fortuner and Innova. Vice-president Varinder Wadhwa attributed the performance to festive optimism and GST-driven market confidence.
Hyundai sees marginal dip ahead of new launch
Hyundai Motor India was the only top automaker to see a dip, with sales slipping 3% to 53,792 units. The decline was linked to the phase-out of the existing Venue, which will be replaced by a new model next week.
COO Tarun Garg said Hyundai still witnessed strong festive demand and expects momentum to continue with the new launch.
