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India’s automobile industry saw an uptick in demand in October following the recent GST cuts, with stronger momentum across tractors, passenger vehicles (PVs), and two-wheelers (2Ws), while demand for medium and heavy commercial vehicles (MHCVs) remained stable.
According to industry estimates, the festive season has supported retail activity, but the Vahan registration data does not yet fully reflect actual festive demand because of reporting lags.
Despite the positive sentiment, wholesale dispatches in October are likely to have been limited due to restricted truck availability and fewer production days during the festive period.
Manufacturers have scaled back discounts amid improving retail momentum and sustained inquiry levels, which are expected to remain strong for the next two to three months.
The overall demand environment, particularly for PVs and 2Ws, has shown a visible recovery as buyers respond to price benefits and festive offers. A CNBC-TV18 poll of leading automakers projects moderate year-on-year growth in both two-wheeler and four-wheeler sales for October.
Among two-wheelers, Bajaj Auto’s sales are estimated to rise 4% year-on-year to 5 lakh units from 4.8 lakh units, while Hero MotoCorp is expected to rise 1% at 6.89 lakh units versus 6.79 lakh units.
TVS Motor is likely to post a 10% growth to 5.39 lakh units from 4.89 lakh units, and Royal Enfield may see an 11% increase to 1.22 lakh units from 1.11 lakh units.
In the four-wheeler segment, Maruti Suzuki’s sales are expected to rise 4% year-on-year to 2.15 lakh units from 2.06 lakh units, while Hyundai is expected to grow 1% at 71,087 units versus 70,078 units.
M&M Auto is estimated to grow 6% to 1.02 lakh units from 96,648 units, and Tata Motors is projected to report a 13% rise to 93,830 units from 82,682 units.
Ashok Leyland’s sales are expected to increase 11% to 17,053 units from 15,310 units, while M&M Tractor sales are likely to remain flat at around 65,228 units compared to 65,453 units last year.
According to industry estimates, the festive season has supported retail activity, but the Vahan registration data does not yet fully reflect actual festive demand because of reporting lags.
Despite the positive sentiment, wholesale dispatches in October are likely to have been limited due to restricted truck availability and fewer production days during the festive period.
Manufacturers have scaled back discounts amid improving retail momentum and sustained inquiry levels, which are expected to remain strong for the next two to three months.
The overall demand environment, particularly for PVs and 2Ws, has shown a visible recovery as buyers respond to price benefits and festive offers. A CNBC-TV18 poll of leading automakers projects moderate year-on-year growth in both two-wheeler and four-wheeler sales for October.
Among two-wheelers, Bajaj Auto’s sales are estimated to rise 4% year-on-year to 5 lakh units from 4.8 lakh units, while Hero MotoCorp is expected to rise 1% at 6.89 lakh units versus 6.79 lakh units.
TVS Motor is likely to post a 10% growth to 5.39 lakh units from 4.89 lakh units, and Royal Enfield may see an 11% increase to 1.22 lakh units from 1.11 lakh units.
In the four-wheeler segment, Maruti Suzuki’s sales are expected to rise 4% year-on-year to 2.15 lakh units from 2.06 lakh units, while Hyundai is expected to grow 1% at 71,087 units versus 70,078 units.
M&M Auto is estimated to grow 6% to 1.02 lakh units from 96,648 units, and Tata Motors is projected to report a 13% rise to 93,830 units from 82,682 units.
Ashok Leyland’s sales are expected to increase 11% to 17,053 units from 15,310 units, while M&M Tractor sales are likely to remain flat at around 65,228 units compared to 65,453 units last year.
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