Diwali a month early for Motown | The Financial Express

Diwali a month early for Motown

The company added that it saw 11-12% increase in bookings during the Navratri period this year, compared to the same period last year.

Diwali a month early for Motown
There was an 11.5% drop in new car orders, the indicator published on the CCFA website showed.

The onset of the festive season has led to a record jump in the dispatches of cars and sports utility vehicles in September, with wholesale volumes hitting an all-time high for any month in history. With the easing of the supply of semiconductors and new model launches, consumer demand has seen a significant jump despite the broader inflationary trends.

As per data shared by Maruti Suzuki, the passenger vehicle (PV) industry dispatched 355,946 units during September, beating the previous high of 342,000 recorded in July. Dealers are not only stocking up for Dussehra and Diwali, deliveries to customers have improved by several weeks due to ramp-up in production. Sales of PVs in September 2021 stood at 160,000, impacted by a severe shortage of semiconductors.

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Maruti Suzuki (MSIL), the country’s largest carmaker, recorded its best domestic monthly sales in almost two years and the second best in nearly four years. The Delhi-based maker of Baleno and Brezza sold 148,380 units in India, a jump of 135% compared to 63,111 sold in the same month last year.

Shashank Srivastava, senior executive officer, marketing and sales, MSIL, said, “Retail volumes will be around 339,000 for September. This is the sixth straight month where wholesales have been higher than retail in the industry. We have a close to normal level of stock of around 239,000 as against 119,000 last month.”

MSIL claimed to have pending orders of 412,700 units at the end of last month.

The company added that it saw 11-12% increase in bookings during the Navratri period this year, compared to the same period last year.

“The downward revision in GDP growth, hike in repo rate and increase in CNG prices are some headwinds that we are watchful of. These will take some months to show effect,” Srivastava added.

Korean car brand Hyundai, India’s second biggest carmaker, clocked a 50% growth in sales at 49,700 units during September, over the same month last year.

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Tarun Garg, director (sales, marketing & service), Hyundai Motor India, said, “The festive season has further fuelled the demand momentum. The Creta has seen an increase of 36% in bookings for September over last year. We are making all efforts to delight customers with improved deliveries during this auspicious period.”

Tata Motors held on to its third position with domestic sales of 47,654 units during September, a growth of 85% over the same month last year. Shailesh Chandra, managing director, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, said, “PVs witnessed strong demand during Q2FY23, fuelled by the festive season and new launches. Going forward, we expect the festive season will witness strong retails on the back of improving supply of vehicles.”

While the top three — MSIL, Hyundai and Tata Motors — which control 70% of the domestic car market, saw a robust growth, the balance, which is shared between Kia, Toyota, Honda, Mahindra & Mahindra (M&M), Volkswagen, Skoda, Nissan and MG Motor, has also witnessed strong growth volumes. M&M will release its sales numbers on Monday.

In the two-wheeler segment, Hero MotoCorp, the country’s largest two-wheeler maker, saw a marginal rise in dispatches during September. The company clocked domestic sales of 507,690 units, a rise of 0.44% compared to the same month last year.

Chennai-based TVS Motor Company saw its domestic sales grow by 16.3% to 283,878 units against the same month last year.

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