Passenger Vehicle (PV) wholesales saw a minor dip of 1.83 percent at 3,57,500 units in September, as the total number of dispatches by carmakers in the year-ago period stood at 3,64,198 units. This is the third consecutive decline in PV wholesales after July and August this fiscal as consumer sentiments remained bearish despite hefty discounts and price cuts offered by leading carmakers.
While carmakers were cutting down dispatches to match retail numbers, the high base effect of last year also resulted in degrowth in total PV volumes in September 2024. However, industry players reckoned that the Year-on-Year (YoY) sales figures are not comparable as, unlike this year, the Shradh Period came in early this year.
The Shradh period, also known as Pitru Paksha, is a 16-day period in the Hindu calendar when people honour their ancestors. During this period, people refrain from buying new clothes, property, or vehicles. During this year, the inauspicious period started on September 14 and will end on October 2. During 2023, it had begun on September 29 and concluded on October 14.
Maruti Suzuki India Limited’s total domestic passenger vehicle wholesales were at 1,44,962 units as compared to 1,50,812 units in the year-ago month, a decline of four percent. A company official said the wholesales were down on a YOY basis as it intends to recalibrate its inventories in order to focus on retail sales.
“Just like in August, we have calibrated our monthly despatches to the dealers and are focussing on Vahan marketshare, which is 42.2 percent. We have seen a good traction during Ganesh Chaturthi and Janmasthami and we have been able to do the numbers as per our business requirements,” said Partho Banerjee, Senior Executive Officer, Marketing and Sales, Maruti Suzuki.
He also noted that since Diwali and Dusshera will fall in the month of October, the company expects “good retails” in the coming days. “Whatever our expectations are during October, we are keeping a month’s stock,” he stated.
Hyundai Motor India’s domestic dispatch of vehicles to dealers saw a six percent dip to 51,101 units last month from 54,241 units in the year-ago period.
Tarun Garg, whole-time director and Chief Operating Officer of the company, claimed that Sports Utility Vehicles (SUVs) now account for 70 percent of the company's overall sales. "With the festive season kicking in, we have introduced many new models and variants to meet customers aspirations, and our dealer touch-points are fully geared up to delight customers with deliveries of their favourite Hyundai cars in this auspicious period," he noted.
Tata Motors' total PV sales in the domestic market, including electric vehicles, stood at 41,063 units last month as against 44,809 units in September 2023, down 8 percent.
"The PV industry in Q2 FY25 saw more than 5 percent decline in retails (Vahan registrations) compared to Q2 FY24 driven by slow consumer demand and seasonal factors. In contrast, industry offtake was significantly higher than registrations in anticipation of a strong start to the festive season, resulting in a continued buildup of channel stock," stated Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd Managing Director, Shailesh Chandra.
The homegrown carmaker's Electric PV sales (Including international business) during last month stood at 4,680 units, down by 23 percent from the same month last year (6,050 units). Its sales during the second quarter of this fiscal stood at 15,642 units, vis-a-vis 18,615 units in the same period last year (16 percent).
"Electric Vehicle sales in personal segment was affected by the lapse of registration and road tax waivers in key states. Fleet EV sales continued to remain impacted due to lapse of FAME II and non-inclusion of the fleet segment in PM-eDRIVE scheme," stated Chandra.
JSW MG Motor India reported an eight percent year-on-year decline in retail sales at 4,588 units in September. The carmaker had sold 5,003 units in the same month last year.
However, Mahindra & Mahindra’s PV sales surged 24 percent to 51,062 units in September compared to the same month of last year. The company had sold a total of 41,267 SUVs in the domestic market in September 2023,
“As we enter into the festivities of Navratri, we open bookings for the much-awaited Thar Roxx on October 3," said Veejay Nakra, President, Automotive Division, M&M Ltd.
Similarly, Toyota Kirloskar Motor (TKM) continued positive sales momentum by registering a 14 percent increase in wholesale sales in September 2024, from the same period last year. The company sold a total of 26,847 units, with domestic sales accounting for 23,802 units and exports totalling 3,045 units.
Sabari Manohar, Vice-President Sales-Service-Used Car Business, Toyota Kirloskar Motor, said, “As the festive fervour picks up, footfalls and enquiries are charged up, which makes us positive of a very good festive season. Notably, our SUV, MPV, and small car segments have experienced significant growth nationwide, contributing over 90 percent to our sales in the month of September.
Kia India also said its total wholesales increased 17 percent year-on-year to 23,523 units in September. The automaker had dispatched 20,022 units to dealers in September 2023.
"Our continuous exceptional sales performance is driven by the overwhelming response from customers during the festive season of Ganesh Chaturthi and Onam, said Hardeep Singh Brar, Sr. VP and Head of Sales and Marketing, adding, ''As we move into festival period, our refreshed product line will provide much needed impetus for high festival sales.”
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