Festive season drives car sales to record highs in September
India's passenger vehicle wholesales hit a record high in September 2023, with 3,63,733 units sent to dealers as automakers geared up for the festive season. The previous record was set just a month earlier, in August, with 3,60,700 units. Shashank Srivastava, Senior Executive Officer at Maruti Suzuki India, speaking with The Economic Times, credited the surge to increased demand during festivities and better car availability due to stabilizing chip supplies.
Major automakers reported their best-ever monthly wholesales
Major automakers like Maruti Suzuki, Hyundai, and Toyota all reported their highest-ever monthly wholesales in September 2023. Mahindra also had its best-ever wholesale of SUVs at 41,267 units last month, a 20% increase from September 2022's 34,262 units. Srivastava mentioned that the passenger vehicle industry had its best-ever April-September quarter and is on track to hit the 40-lakh unit mark for both the financial year and calendar year.
Maruti Suzuki's domestic sales increased by 2%
Maruti Suzuki announced its best-ever monthly sales in September 2023, with total wholesales rising by 3% year-on-year to reach 1,81,343 units. The company's total domestic passenger vehicle sales increased by a modest 2% from September 2022, hitting 1,50,812 units last month. In the April-September period, Maruti's total sales crossed the 10-lakh mark for the first time ever, dispatching 10,50,085 units in the first half of the current fiscal.
Hyundai's domestic sales rose by 9%
Hyundai also saw its total wholesales grow by 13% year-on-year to reach 71,641 units in September 2023, marking its highest-ever monthly sales. Domestic sales rose by 9% from September 2022, reaching 54,241 units last month. Hyundai Motor India COO Tarun Garg attributed the growth to strong sales momentum during the ongoing festive season, with SUV sales continuing to grow as a share of overall volumes.
Toyota, Tata, and MG also reported strong sales
Toyota Kirloskar Motor reported its highest-ever monthly wholesales in September 2023, with a 53% year-on-year increase to 23,590 units. Tata Motors experienced a 2% rise in total domestic vehicle sales, reaching 82,023 units in September. Meanwhile, MG Motor India recorded a 31% year-on-year growth in retail sales, with 5,003 units sold in September 2023.
