PV Wholesales Remain Flat In Oct, While Retail Sales Climb 34 Per Cent To 4.5 Lakh Units

Maruti Suzuki clocked overall domestic PV wholesales at 1,59,591 units in October 2024, slipping 5 per cent from 1,68,047 units sold in the same period a year earlier

Passenger vehicles (PV) wholesales turned flat in October 2024 at nearly 3,90,000 units, against 3,91,472 units clocked in the same period a year earlier. This was seen after volumes clocked a yearly drop for three consecutive months.

However, PV retail sales touched 4,50,003 units in the month under review, climbing almost 34 per cent from 3,36,383 units sold in October 2023, the latest Vahan data revealed.

Amongst the automakers, Maruti Suzuki clocked overall domestic PV wholesales at 1,59,591 units in October 2024, slipping 5 per cent from 1,68,047 units sold in the same period a year earlier, reported Moneycontrol. However, the retail sales for the company climbed 22.4 per cent on a year-on-year (YoY) basis to hit 2,02,402 units.

Meanwhile, Hyundai Motor India saw a slight improvement in its domestic sales at 55,568 units in October this year, against 55,128 units seen in the same period a year earlier. 

Tata Motors saw a decline in its domestic PV sales at 48,131 units against 48,337 units in the year-ago period. However, Mahindra and Mahindra clocked its highest-ever monthly auto sales in October at 54,504 units, logging an increase of 25 per cent against 43,708 units sold in the same month last year.

Veejay Nakra, President, Automotive Division, M&M Ltd, noted, “The month began on a fantastic note with Thar ROXX garnering 1.7 lakh bookings in the first 60 mins and the positive momentum continued across the SUV portfolio through the festive season.”

Partho Banerjee, Senior executive officer, Marketing and Sales, Maruti Suzuki India, argued that wholesale figures might not be the correct index for the industry and the market needs to be reviewed from the retail sales perspective. “Last year we did close to 18 lakh units (in October). Our last highest October was in FY 20-21 with 191,476 units retailed. We sold around 42,000 units on Dhanteras. Last year, we retailed around 23,000 units in Dhanteras,” he added.

Car loan Information: