Festive demand drives PV sales to record high in Oct

NEW DELHI: Passenger vehicle wholesales in India rose to a record high in October as companies pushed dispatches to dealers to cater to the enhanced demand in the festive season.

The overall passenger vehicle wholesales in October rose to 3,91,472 units, up 16 per cent from 3,36,679 units in the same month last year.

Last month witnessed the highest-ever dispatches of passenger vehicles in the domestic market by Maruti Suzuki India and Mahindra & Mahindra. “It is not only the highest October in terms of sales, but also the highest ever month which we have seen in the Indian passenger vehicle industry in any year in any month,” Maruti Suzuki India senior executive officer (Marketing and Sales) Shashank Srivastava told reporters in a call.

Rival Hyundai Motor Company said its domestic sales increased by 15 per cent to 55,128 units last month, from 48,001 units in the same month a year ago. “The festival season has again proved that customers are really wanting to buy cars. The good part is that although we do not have pent up demand, the fresh inflow is what is keeping us afloat,” Hyundai Motor India COO Tarun Garg said.

Mahindra & Mahindra said its utility vehicle dispatches rose by 36 per cent year-on-year to 43,708 units in October.