Festive demand steers passenger vehicle wholesales to record high in September
Passenger vehicle wholesales in India rose to record levels in September as automakers dispatched stocks to dealers in order to cater to the robust demand in the ongoing festive season.
The industry dispatches stood at 3,63,733 units last month, the best ever in a month. The previous best was reported in August 2023 with dispatches of 3,60,700 units. "This is the highest ever September of course, in any year in the Indian passenger vehicle history. It is also the highest ever in any month so far," Maruti Suzuki India Senior Executive Officer (Marketing and Sales) Shashank Srivastava told reporters in a virtual press meet.
He noted that dispatches rose in September as the dealers prepared for the festive season which kicks in a big way from October 14.
Last month also witnessed robust demand in western and southern states due to various festivals which see increase in car sales, Srivastava said.
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Another reason is better availability of cars due to chip supplies stabilising, he added.
Last month Maruti Suzuki, Hyundai and Toyota reported their best ever monthly wholesales as they ramped up supplies to dealers in order to cater to the robust demand owing to the ongoing festive season.
Mahindra & Mahindra also reported the highest ever wholesale of SUVs at 41,267 units last month, a growth of 20 per cent over 34,262 units in September 2022.
Srivastava said the wholesales were also the best ever for the passenger vehicle industry in the April-September quarter.
"And it is the first time that in nine months till September, the industry passenger vehicles sales have crossed the 30-lakh unit mark, which means that we are on course to reach 40-lakh unit mark both for the financial year as well as the calendar year," he noted.
Srivastava said it is for the first time ever that the industry has breached the 20-lakh unit sales mark in the April-September period.
MSI said its total wholesales increased 3 per cent year-on-year to 1,81,343 units in September, its best ever in a month.
The country's largest carmaker had dispatched 1,76,306 units to dealers in the same month last year.
Total domestic passenger vehicle sales rose to 1,50,812 units last month, up 2 per cent from 1,48,380 units in September 2022.
In the April-September period, the company's total sales crossed the 10-lakh sales mark.
MSI dispatched 10,50,085 units in the first half of the current fiscal as compared with 9,85,326 units in the same period of last fiscal.
It is for the first time that the company surpassed the half-yearly sales mark of 1 million units, the automaker noted.
Sales of compact cars also declined to 68,552 units last month from 72,176 units in September 2022.
Utility vehicle dispatches, however, witnessed a jump of 82 per cent to 59,271 units last month from 32,574 units in September last year.
Rival Hyundai Motor India said its total wholesales increased 13 per cent year-on-year to 71,641 units in September, its highest ever in a month. The country's second largest carmaker had dispatched 63,201 units to dealers in September last year.
Domestic sales last month rose to 54,241 units, up 9 per cent from 49,700 units in September 2022.
"While the industry grew by 2 per cent last month, our domestic dispatches were up 9 per cent. The share of SUV sales in our overall volumes continues to grow," Hyundai Motor India COO Tarun Garg said.
The ongoing festive season has resulted in strong sales momentum, helping the automaker achieve 9 per cent growth, he added.
Toyota Kirloskar Motor said its total wholesales increased 53 per cent year-on-year to 23,590 units in September, its highest-ever in a month.
The automaker had dispatched 15,378 units to dealers in the same month last year.
Tata Motors reported a 2 per cent rise in its total domestic vehicle sales at 82,023 units in September, as against 80,633 units in the same month last year.
Its passenger vehicle sales in the domestic market, including electric vehicles, were down 6 per cent at 44,809 units last month, as compared to 47,654 units in September 2022.
MG Motor India reported a 31 per cent year-on-year growth in retail sales at 5,003 units in September 2023.