India’s passenger vehicle industry saw its wholesale volume in October increase marginally, while two-wheeler wholesales recorded a robust growth of 14.2% on year during the month.
According to data from the Society of Indian Automobile Manufacturers released today, domestic passenger vehicle sales grew 0.9% on year to 3.93 lakh units. Two-wheeler sales jumped 14.2% to 21.64 lakh units.
Despite the marginal growth, which comes on a high base, the passenger vehicle industry managed to post the highest-ever October sales. Two-wheeler sales were also at record levels.
Carmakers reduced production and dispatches as they reduced the inventory pile-up at dealerships during the peak festival season.
The October month has been very good for retail sales with both passenger vehicles and two-wheelers recording over 30% year-on-year growth.
The coincidence of both Navratri and Diwali falling in October this year created a perfect storm for auto sales, as these festivals traditionally account for more than a quarter of annual auto sales.
Domestic passenger vehicle wholesales continued to be driven by sport utility vehicles as utility vehicle sales recorded 13.9% to 2.26 lakh units, while passenger car sales fell 17.3% to 1.08 lakh units.
Exports of passenger vehicles rose 14.1% to 61,530 units. Two-wheeler makers exported 3.65 lakh units, representing a growth of 25.4%.
On the production front, the passenger vehicle industry reduced the output during the month by 4% on year to 3.67 lakh units. Two-wheeler production, however, was 13.3% higher at 24.12 lakh units.
The passenger vehicle production, export and segment-wise data provided by SIAM does not include numbers from Tata Motors, BMW, Mercedes, Jaguar Land Rover and Volvo Auto.
Meanwhile, domestic three-wheeler dispatches declined marginally by 0.7% on year to 76,770 units, primarily due to a drop in electric rickshaw wholesales. Passenger carriers saw 2% growth to 62,531 units while goods carriers decreased by 1% to 11,539 units.
Total domestic automobile dispatches in October, excluding Tata, BMW, Mercedes, JLR and, and Volvo Auto, recorded an 11.7% on-year growth to 25.86 lakh units, while exports rose 22.4% to 4.54 lakh units. Production increased by 10% to 28.83 lakh units.