New Delhi: The easing of provide chain constraints helped OEMs enhance manufacturing and wholesales in October 2022. This time, final 12 months, the unprecedented semiconductor scarcity, gasoline value hike, enhance in enter prices, and the ensuing automobile value rise marred the October gross sales. Thus, the low base of final 12 months has additionally contributed to the wholesale figures this October being increased and within the inexperienced.
However, on a sequential foundation, automobile dispatches for passenger autos (PVs) and two wheelers (2Ws) have been lower than in September, the month of the start of the auspicious interval of Navaratri on twenty sixth, adopted by Dussehra and culminating in Diwali on October 24. Hence September had the best wholesale dispatches for stock constructing in anticipation of festive demand, after two years of the pandemic disruption.
The following is a segment-wise report of auto dispatches throughout October 2022.
Passenger autos
The total demand for passenger autos stay strong, particularly for the SUV class of autos. The entry-level section is predicted to be a reason for concern going ahead.
Recently, RC Bhargava, Chairman, Maruti Suzuki stated, it’s anticipated that the hatchback sector will nonetheless proceed to indicate de-growth subsequent 12 months however (PV) trade as a complete within the nation may have a progress price, which taking a look at all of the parameters immediately, might be someplace round 8%.
“This quarter too, the hatchback segment has found growth. I think that is limited to this festival season. I don’t expect that hatchback growth to continue, subsequent to this quarter or in the next year,” he stated.
For October 2022, Maruti Suzuki reported a YoY progress of 29% in its home dispatches whereas it dropped 5% on a MoM foundation. The firm dispatched 1.40 lakh models in October this 12 months, down from 1.48 lakh models in September.
The passenger automobile gross sales for the corporate elevated to 100,505 models as towards 71,590 models reported within the year-ago interval.
Within the class, gross sales of compact automobiles (Baleno, Celerio, Dzire, Ignis, Swift, Tour S, WagonR) have been as much as 73,685 models from 48,690 models registered in October 2021. Sales for mid-size Ciaz have been additionally up at 1,884 models in October 2022 as towards 1,069 models final 12 months. However, gross sales of mini automobiles (Alto, S-Presso) dropped to 24,936 models in October this 12 months, in comparison with 21,831 models within the month final 12 months.
Maruti’s utility automobile section (Brezza, Ertiga, S-Cross, XL6, Grand Vitara) additionally reported a progress at 30,971 models throughout the month beneath evaluation, up from 27,081 models in October 2021.
Hyundai dispatched about 48,001 autos throughout the month, down from 49,700 dispatched throughout September. However, the corporate stated it’s set to register document home gross sales quantity in CY 2022.
Tarun Garg, Director (Sales, Marketing & Service), Hyundai Motor India, stated that with an enchancment within the semiconductor state of affairs, the corporate was capable of meet the demand throughout the festive season in October.
Domestic Sales | October 2022 | October 2021 | % change |
Maruti Suzuki | 1,40,337 | 1,08,991 | 29 |
Hyundai | 48,001 | 37,021 | 30 |
Tata Motors | 45,217 | 33,925 | 33 |
Mahindra & Mahindra | 32,298 | 20,130 | 60 |
Kia India | 23,323 | 16,331 | 43 |
Toyota Kirloskar | 13,143 | 12,440 | 6 |
Renault | |||
Honda Cars | 9,543 | 8,108 | 18 |
MG Motor | 4,367 | 2,863 | 53 |
Skoda Auto | 3,389 | 3,065 | 11 |
Nissan India | 3,061 | 3,919 | -22 |
Volkswagen |
Veejay Nakra, President, Automotive Division, M&M, stated, “Our sales volume continued to grow in October on the back of strong festive demand. We sold 32,226 SUVs in October, registering a growth of 61% fuelled by robust demand across our portfolio.”
According to Kia, its best-selling mannequin Seltos led the gross sales graph with 9,777 models throughout October, adopted by Sonet and Carens MPV with 7,614 and 5,479 models respectively. The firm offered 301 models of Carnival and 152 models of EV6.
The South Korean automaker stated it has crossed the two lakh gross sales mark within the first 10 months of the CY 2022, marking a progress over the entire gross sales determine of 181,583 models in CY 2021.
Hardeep Singh Brar, Vice President and Head of Sales & Marketing, Kia India, stated, “We have already crossed the 2 lakh sales mark in CY 2022 and with two months still remaining, we are confident of ending the year on an unprecedented high.”
MG Motor stated it was capable of improve manufacturing resulting from “some improvement in semiconductor supplies through localisation initiatives. “The coming weeks ought to hopefully see some extra enchancment,” it said.
Petr Solc, Brand Director, Skoda Auto India, said the company is very confident of closing the year on a high, with more than doubling its annual sales as compared to 2021.
Two-wheelers
Hero MotoCorp was in the red reporting a decline in YoY dispatches for the month. Country’s largest two wheeler maker, which reported a 16% drop in domestic sales, noted that the festivals of Dussehra and Diwali – which triggers record retail buying – occurred in the month of October this year. Due to this, the dispatch sales of October are not comparable to the previous years, when the festival days were spread across October and November.
“A strong festive season has also helped reduce post-festive total inventory to the lowest in the previous 5 years. This augurs well for growth in the second half of the year,” said the two wheeler maker.
Honda Motorcycle & Scooter India (HMSI) reported a growth of 8% YoY. Atsushi Ogata, Managing Director, President & CEO, HMSI, said, “This year’s festival season has ushered in a period of real growth and positive sentiment after a challenging period of two-years. With celebrations in full swing and a strong growth prospect for the coming times, we are truly elated to witness such strong demand pouring in from the market.”
Domestic Sales | October 2022 | October 2021 | % change |
Hero MotoCorp | 4,42,825 | 5,27,779 | -16 |
HMSI | 4,25,969 | 3,94,645 | 8 |
TVS Motor | |||
Bajaj Auto | 2,06,131 | 1,98,738 | 4 |
Suzuki Motorcycles | 69,634 | 56,785 | 23 |
Royal Enfield |
Commercial vehicles and three-wheelers
The market leader in the commercial vehicle segment, Tata Motors reported that domestic sales were equal to that in last year. Its sales in the passenger carrier category reported the highest YoY growth. However, a major portion of sales from SCV cargo and pickup dropped 8% YoY.
Domestic sales of Bajaj Auto, the market leader in the three-wheeler segment, crossed 35,000 units, marking a YoY growth along with a sequential growth, moving up from 31,752 units in September 2022.
Domestic Sales | October 2022 | October 2021 | % change |
Bajaj Auto | 36,786 | 19,827 | 86 |
Tata Motors | 31,320 | 31,226 | 0 |
Mahindra & Mahindra | 26,061 | 18,604 | 40 |
Ashok Leyland | 13,860 | 10,043 | 38 |
VECV | |||
TVS Motor |
Tractors
Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra, said, “Festive season kept the spirits high and led to very strong momentum in demand for tractors and farm machinery.”
According to him, the recent government announcement of higher MSP for key Rabi crops, good moisture content in the soil, high reservoir levels and good progress in sowing for Rabi crops are all positives for continued good demand for tractors in the coming months.
Domestic Sales | October 2022 | October 2021 | % change |
Mahindra & Mahindra | 50,539 | 45,420 | 11 |
Escorts Kubota |
(This is a developing story. We will keep updating the sales numbers as OEMs release their data).
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Source: auto.economictimes.indiatimes.com