The retail figure of car sales crossed 5 lakh in October 2024. According to vehicle data, till October 31, 5.13 lakh vehicles were registered in the country. That means 16,550 cars were sold every day. Earlier in January this year, a record 3.99 lakh cars were registered.
In the current financial year, an average of 3.33 lakh vehicles have been sold every month, which is 5% more than last year. Last year 38 lakh cars were sold. For the first time, sales of electric cars crossed 10 thousand, this is 38% more on annual basis. Wholesale data analysis of vehicles last month shows that buyers in the country are preferring SUVs and premium cars.
Maruti's total sales increased by 4%, but SUV's increased by 20%
Maruti Suzuki, the country's largest car company in terms of sales, sold more than two lakh cars in a month for the first time. Total sales increased by 4% to 206,434. Apart from this, the company also exported 33,168 cars.
Maruti Suzuki's SUV segment sales have increased by 20% on an annual basis. Whereas there was a decline of 20% in the sales of small cars due to which there was a decline of 5% in domestic wholesale. However, the company sold the maximum number of 1,59,591 cars within the country.
- Mahindra & Mahindra, the country's second largest company in terms of SUV manufacturing, witnessed a growth of 25% in its SUV sales. Hyundai Motors India sold 37,902 SUVs, which was its biggest sale in a single month.
- Mahindra & Mahindra's SUV sales in the Indian market increased by 25% year-on-year to 54,504.
- Hyundai wholesaled 55,568 cars in the domestic market, this figure was 55,128 in October last year. Also, the company's exports increased by 6.7% on annual basis to 14,510 units.
- JSW MG Motor India sold 31% more vehicles on annual basis. New energy vehicles account for 70% of total sales. Launched last month, 3,116 units of Windsor were sold.
Electric two-wheelers: Sales increased by 85%, 1.39 lakh vehicles sold
Two wheeler sales have increased rapidly in the last month of October. 1.39 lakh electric two-wheelers were registered in October. This is 85% more than the 75,164 vehicles registered in October last year.
In March this year, 1,40,333 vehicles were sold, which is a record. 9,54,164 electric two-wheelers have been sold since January this year. This is 38% more than the 6,92,363 sold in the same period last year.
Ola Electric had the largest share in the total sales of two-wheelers. The company sold 41,605 scooters in October, which is 74% more than the same period last year.
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Maruti-Suzuki profit down 17% YoY: Q2 profit at ₹3,069 crore, against ₹3717 crore in Q2 last year; Share fell 6%
Maruti Suzuki has made a profit (standalone net profit) of Rs 3,069 crore in the second quarter (July-September) of the financial year 2024-25. There has been a decline of 17% on annual basis (YoY). In the July-September quarter a year ago, the company had made a profit of Rs 3717 crore.
The company's operational revenue in the July-September quarter stood at Rs 37,203 crore. In July-September 2023, the company had generated revenue of Rs 37,062 crore. There was a slight increase of 0.37% on annual basis. Earnings from selling goods and services are called revenue.
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Graphics Source: VaskarAssets
