HighlightsVehicle Manufacturing Company: Wholesale sales stood at 1,44,962 units compared to 1,50,812 units a year ago.Vehicle Manufacturing Company: Maruti Suzuki India recorded a four percent decline in total domestic sales of passenger vehicles. Vehicle Manufacturing Company: Sales of compact cars declined to 60,480 units compared to 68,551 units a year ago.
Vehicle Manufacturing Company: There was a decline in wholesale sales of vehicle manufacturing companies Maruti Suzuki India, Hyundai and Tata Motors during September. These companies have reduced the supply to reduce the stock of vehicles with dealers. However, the country’s major two-wheeler companies have registered a good increase in sales during the month. Vehicle manufacturing companies released wholesale sales figures for September 2024. This shows that the demand in the market remains low.
Maruti Suzuki India reported a four percent decline in total domestic sales of passenger vehicles last month. Its wholesale sales stood at 1,44,962 units as compared to 1,50,812 units a year ago. The country’s leading automobile company said sales of small cars like Alto and S-Presso increased marginally to 10,363 units in September compared to 10,351 units a year ago.
However, sales of Maruti’s compact cars like Baleno, Celerio, Dezire, Ignis, Swift and Wagon-R declined to 60,480 units compared to 68,551 units a year ago. During this period, sales of Maruti’s utility vehicles like Brezza, Ertiga, Grand Vitara and XL6 increased by four percent to 61,549 units as against 59,272 units in the same period a year ago.
Partho Banerjee, senior executive officer (marketing and sales), Maruti Suzuki, said in an online press conference that the company is reducing the supply to replenish the stock at the dealer level as per the market demand. He said on the back of last year’s high base and no pending demand, the auto industry is expecting single digit growth this year.
“We are seeing good growth in the number of bookings,” he said. We are going to see some growth in the festive season.” Banerjee said Maruti has recorded record wholesale sales of 10.63 lakh units in the first half (April-September) of the current financial year. Of these, 8,61,045 vehicles have been sold in the domestic market while export sales stood at 1,48,276 vehicles.
Hyundai Motor India said domestic supplies witnessed a six per cent decline during September. During this period, wholesale sales of 51,101 units were made whereas in the same period a year ago it was 54,241 units. Tata Motors’ total passenger vehicle sales, including electric vehicles, in the domestic market declined by eight percent to 41,063 units as against 44,809 units in September 2023.
Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd, said, “The passenger vehicle industry recorded a decline of more than five per cent year-on-year in the second quarter of the financial year 2024-25.” Mahindra & Wholesale sales of Mahindra’s SUV vehicles in the domestic market increased by 24 percent year-on-year to 51,062 units.
Toyota Kirloskar Motor’s wholesale sales in September rose 14 percent to 26,847 units. The company had sold 23,590 vehicles in September last year. JSW MG Motor India’s September retail sales declined by eight percent to 4,588 units. Kia India sales increased 17 percent year-on-year to 23,523 units in September from 20,022 units a year ago.
Hero MotoCorp, the leader in the two-wheeler segment, sold 6,37,050 vehicles last month, which is 19 percent higher on an annual basis. Hero shipped 5,36,499 units to dealers in September 2023. Bajaj Auto’s domestic sales grew 23 per cent to 3,11,887 vehicles from 2,53,193 units sold in September last year. Honda Motorcycle and Scooter India said that its wholesale sales in the domestic market increased to 5,36,391 units from 4,91,802 units a year ago.