Auto sales hit the slow lane in Oct

Highlights

Maruti, Hyundai report muted domestic wholesales as cos curtailed dispatches to dealers in order to cut inventory buildup

New Delhi: Auto majors Maruti Suzuki India and Hyundai reported muted sales performance in October as the companies curtailed dispatches to dealers in order to cut inventory buildup. India’s largest carmaker Maruti Suzuki India (MSI) said its total domestic passenger vehicle wholesales were at 1,59,591 units last month compared with 1,68,047 units in the year-ago month, a decline of five per cent.

The company, however, reported its highest-ever monthly sales, including exports, in October at 2,06,434 units, a 4 per cent year-on-year growth over the same month last year. MSI Senior Executive Officer (Marketing and Sales) Partho Banerjee said the company saw its highest-ever retail sales in an October.

“All our models had very good retail sales. As a result of which we have corrected our network stock by almost more than 40,000 units. We calibrated our production supplies, and now our network stock is almost one month,” he said. MSI said sales of its mini-segment cars, comprising Alto and S-Presso, declined to 10,687 units from 14,568 units in October 2023. Similarly, sales of compact cars, including Baleno, Celerio, Dzire, Ignis, Swift, Tour S, and WagonR, declined to 65,948 units over 80,662 units in the year-ago month.

Utility vehicle sales, comprising Brezza, Grand Vitara, Ertiga and XL6, however, rose to 70,644 units last month compared to 59,147 units earlier.