In a market beleaguered with the pandemic and slow sales, October 2020 proved to be indeed the start of something auspicious. Majority of the carmakers in India registered a double-digit growth. Some like Kia Motors India, Tata Motors registered 63.54 and 79.21 per cent growth on a year-on-year basis, respectively. India’s largest carmaker, Maruti Suzuki, sold a massive 1,63,656 units and in the process registered a 17.64 per cent yearly growth. Hyundai in the meanwhile managed to move 56,605 cars, gaining a 16.96 per cent market share along with a growth of 13.19 per cent. Tata Motors sold 23,600 units and holds a 7.07 per cent market share. Kia, which entered the Indian market last year, commands a 6.30 per cent market share and at the same time sold 21,021 cars in October. Mahindra came in the fifth position with 18,622 cars being sold whereas the market share is 5.58 per cent.
Toyota came in the sixth position 12,373 cars sold, registering a growth of 4.27 per cent, and stamping a 3.71 per cent market share. Renault which has been posting some good sales numbers in recent months stood at number seven. The French carmaker sold slightly less cars than what they did last year. The company has a 3.30 per cent share in the market. Honda Car India Limited sold 10,836 cars and grew by 8.25 per cent. HCIL has a 3.25 per cent market share.
While it seems like a festive flash in the pan, it is likely that it may not be. Given the preference for personal transportation and the fact that many had delayed their purchases due to various reasons, we assume sales will be up. November should be an indicator if the sales sentiment continues. Similar is the case with the two-wheeler market in India and we expect it to grow exponentially as well.
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