India Flash Bulletin

Passenger car wholesales reach a record high in September due to holiday demand

<p>In September, passenger car wholesales in India reached all-time highs as manufacturers sent supplies to dealers to meet the brisk demand during the current holiday season.<img decoding=”async” class=”alignnone wp-image-215058″ src=”×422.jpg” alt=” passenger car wholesales reach a record high in september due to holiday demand pt” width=”1384″ height=”779″ srcset=”×422.jpg 750w,×576.jpg 1024w,×432.jpg 768w,×220.jpg 390w,×84.jpg 150w, 1200w” sizes=”(max-width: 1384px) 100vw, 1384px” title=”Passenger car wholesales reach a record high in September due to holiday demand 12″></p>
<p>Last month’s industry transmissions were the highest monthly total ever with 3,63,733 units.</p>
<p>The previous best was recorded in August 2023, when 3,60,700 units were sent.</p>
<p>“Of course, this is the highest September in any year in the history of passenger vehicles in India. In a virtual news conference, Maruti Suzuki India Senior Executive Officer (Marketing and Sales) Shashank Srivastava informed reporters that it was also the most in any month so far.</p>
<p>He observed that shipments increased in September as the merchants got ready for the holiday season, which begins in earnest on October 14.</p>
<p>Due to numerous events that enhance the sale of cars, there was also a strong demand last month in the western and southern states, according to Srivastava.</p>
<p>He said, “Better availability of cars as a result of stabilizing chip supplies” is another factor.</p>
<p>Maruti Suzuki, Hyundai, and Toyota announced their greatest monthly wholesales ever last month as they increased supply to dealers to meet the brisk demand brought on by the present holiday season.</p>
<p>In addition, Mahindra & Mahindra recorded the highest-ever wholesale of SUVs last month, totaling 41,267 vehicles, a 20% increase over the 34,262 units reported in September 2022.</p>
<p>According to Srivastava, the quarter from April to September had the strongest wholesales ever for the passenger car sector.</p>
<p>“And it is the first time that industry passenger vehicle sales have exceeded the 30-lakh unit mark in the nine months leading up to September, which means that we are on track to reach 40-lakh unit mark both for the financial year and the calendar year,” he said.</p>
<p>According to Srivastava, the industry’s 20 lakh unit sales threshold was broken in the months of April through September for the first time ever.</p>
<p>The best-ever month for wholesales, according to MSI, was September, when total wholesales grew 3% year over year to 1,81,343 units.</p>
<p>The biggest automaker in the nation sent 1,76,306 vehicles to dealers during the same month last year.</p>
<p>In September 2022, there were 1,48,380 domestic passenger car sales; last month, there were 1,50,812 units sold, an increase of 2%.</p>
<p>The company’s overall sales surpassed the ten thousand sales barrier between April and September.</p>
<p>In the first half of the current fiscal year, MSI sent 10,50,085 units as opposed to 9,85,326 units during the same time in the previous year.</p>
<p>The business has already sold more than 1 million vehicles in a half year for the first time, according to the carmaker.</p>
<p>The business said in September that sales of its entry-level automobiles, the Alto and S-Presso, were at 10,351 units, down 65% from 29,574 units in the same month last year.</p>
<p>Compact vehicle sales also decreased last month from 72,176 units in September 2022 to 68,552 units.</p>
<p>However, from 32,574 units in September of last year to 59,271 units this month, utility vehicle shipments increased by 82%.</p>
<p>Rival According to Hyundai Motor India, its overall wholesales rose 13% year over year to 71,641 vehicles in September, marking the highest monthly total ever. In September of last year, 63,201 vehicles were delivered to dealers by the nation’s second-largest automaker.</p>
<p>Domestic sales increased by 9% this month to 54,241 units from 49,700 units in September 2022.</p>
<p>“Our domestic deliveries increased by 9% last month, despite the industry’s 2% growth. Tarun Garg, COO of Hyundai Motor India, said that the proportion of SUV sales in total volume “continues to increase.”</p>
<p>Strong sales momentum brought forth by the current holiday season have assisted the carmaker in achieving 9% increase, he noted.</p>
<p>Toyota Kirloskar Motor said that its overall wholesales rose to 23,590 units in September, a record-high for a single month, up 53% from the previous year.</p>
<p>15,378 vehicles were delivered by the carmaker to dealers during the same month the previous year.</p>
<p>In comparison to the same month previous year, Tata Motors recorded a 2% increase in overall domestic vehicle sales, totaling 82 023 units.</p>
<p>Its domestic passenger car sales, which include electric vehicles, decreased by 6% last month to 44,809 units from 47,654 units in September 2022.</p>
<p>In September 2023, MG Motor India announced retail sales of 5,003 units were up 31% year over year.</p>
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