Pro Plus

Festive cheer allays Auto Inc's stock worries, sets new records

India’s auto sector takes a sign of relief after October sees strong pick-up in sales, easing fears of an inventory pile-up.

By Ashutosh Radhey Shyam & Prerna Lidhoo

08 Nov 2024

5370 Views

Festive offers by PV manufacturers

Until a few months back, India's automotive industry was navigating a challenging period, with showrooms quieter than usual and dealers across the country grappling with ballooning stock levels. Then came October and with it, a shift that jolted the market back to life.

The festive season—arriving weeks earlier than the previous year—has taken monthly vehicle registrations to unprecedented levels. According to Vahan, the government-run vehicle registration portal, October 2024 saw an astonishing 478,450 car registrations—the highest monthly figure on record. This is a significant leap from the previous high of 399,112 units set in January 2024. The average daily ...

This is an Autocar Pro Plus article. Subscribe to continue reading.