Car sales down in October

Despite Diwali and Navrati festival, Auto car sales saw a muted growth for Indian automobiles as Maruti Suzuki and Toyota reported better growth in October, while Tata Motors, TVS Motors reported flat growth.

While Mahindra & Mahindra, Hyundai, Honda cars and Ford posted a drop in total sales.

Maruti Suzuki India Limited sold a total of 146,446 units in October 2017, growing 9.5% over the same period of last fiscal, while Toyota Kirloskar Motor sold a total of 12,403 units in the domestic market. In the month of October 2016, Toyota Kirloskar Motor sold a total of 11,651 units in the domestic market.

Tata Motors domestic passenger and commercial vehicles sales surge 5% to 48,886 units.TVS Motor Company registered a sales growth of 3% increasing from 308,690 units in October 2016 to 317,411 units in the month of October 2017.

Mahindra & Mahindra Ltd announced its auto sales performance for October 2017 which stood at 51,149 vehicles, as compared to 52,008 vehicles during October 2016, while Ford India’s combined domestic wholesales and exports in October reached 15,033 vehicles from 22,043 vehicles in the same month last year.

Honda Cars India Ltd reported monthly domestic sales of 14,234 units in October 2017 against 15,567 units in the corresponding month last year, while Hyundai Motor India Ltd registered the domestic sales of 49,588 units for the month of October 2017 as against 50,017 units in October 2016.

In regards to festive season purchases, the auto industry have
registered better growth in September 2017.

The auto industry produced a total 14,675,828 vehicles including
passenger vehicles, commercial vehicles, three wheelers, two-wheelers and quadricycle in April-September 2017 as against 13,441,520 in April-September 2016, registering a growth of 9.18% over the same period last year, according to SIAM data.

Yash Ved
Yash Ved is a Senior Correspondent at NewsBarons and comes with a decade of experience across leading online and offline publications. A keen observer of the stock index movement, Yash also likes covering Real Estate and the BFSI sector. A financial management and Journalism student, Yash believes learning as a continuous journey and enjoys following the IT and the Pharmaceutical industry and has penned many articles on the subjects.

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