Auto Sales: Due to festive demand, wholesale sales of passenger vehicles hit new high

Vehicle manufacturers in India dispatched stocks to dealers to meet strong demand during the ongoing festive season, pushing wholesale passenger vehicle sales to a record high in September. A total of 3,63,733 vehicles were sold in the automobile industry in September, which is the highest ever in any month. Earlier, the highest figure was in August 2023, when 3,60,700 vehicles were sold.

Maruti Suzuki, Hyundai and Toyota recorded their best-ever monthly wholesales in September 2023 as they increased supplies to sellers to meet the strong demand due to the ongoing festive season.

Maruti Suzuki India's (MSI) total vehicle sales in September increased by 3% year-on-year to 1,81,343 units, which is its highest sales figure in a month.

This is certainly the highest ever September in any year in Indian passenger vehicle history, said Shashank Srivastava, senior executive officer (marketing and sales), Maruti Suzuki India (MSI). This is the highest in any month so far. He said there has been an increase in wholesale sales in September as sellers are ready for the festive season starting from October 14.

Hyundai Motor India's total wholesale sales in September increased by 13% year-on-year to 71,641 units. The country's second largest car manufacturing company said that this is its highest monthly sales. The company's domestic sales increased by 9% to 54,241 units from 49,700 units in September 2022.

Tata Motors' total domestic sales increased by 2% year-on-year to 82,023 units in September. In September last year it was 80,633 units. Mahindra & Mahindra (M&M) Limited's sales in the Sports Utility Vehicle (SUV) segment in September were the highest ever. The company sold 41,267 vehicles in this segment, a 20% increase, compared to 34,262 units in September, 2022.

Total wholesale sales of Toyota Kirloskar Motor (TKM) increased by 53% year-on-year to 23,590 units in September. This is the highest monthly sales figure of the company.

MG Motor India's retail sales increased by 31% year-on-year to 5,003 units in September. Honda Cars India Limited sold 9,861 vehicles in the domestic market in September 2023, an increase of 13% year-on-year.