Auto Sales In October 2024: Hyundai Sells Record SUVs, TVS Motor Sales Up 13%, Tata Motors Sales Flat

Hero MotoCorp registered a growth of 18% in sale of motorcycles and scooters in October 2024 over the corresponding month of the previous fiscal.

"This significant growth was primarily driven by robust demand from key urban and rural areas, particularly in the 100cc and 125cc segment during the festive period," the company said.

Here's a breakup (YoY):

• Total sales up 18% at 6.79 lakh units .

• Scooter sales down 5% at 43,304 units.

• Domestic sales up 17% at 6.57 lakh units.

• Exports up 43% at 21,688 units.

Shares of Mahindra and Mahindra Ltd., Eicher Motor Ltd. and Tata Motor Co. jumped during the Diwali Muhurat Trading on Friday after release of October sales data.

Read full story here.

Total two-wheeler sales of TVS Motor grew by 14%, rising from 4,20,610 units in October 2023 to 4,78,159 units in October 2024. Domestic two-wheeler sales increased by 13%, from 3,44,957 units to 390,489 units.

Motorcycle sales also saw a 14% increase, climbing from 201,965 units in October 2023 to 230,822 units in October 2024. Meanwhile, scooter sales registered a growth of 17%, rising from 165,135 units in October 2023 to 193,439 units in October 2024.

Three-wheeler registered sales of 10,856 units in October 2024 as against 14,104 units in October 2023, TVS Motor said.

TVS Motor's EV sales registered a growth of 45% with sales increasing from 20,153 units in October 2023 to 29,308 units in October 2024.

TVS Motor Co. recorded monthly sales of 4,89,015 units in October 2024 with a growth of 13% as against 434,714 units in the month of October 2023.

Here's a breakup (YoY):

• Total sales up 13% at 4.89 lakh units.

• 2-wheeler sales up 14% at 4.78 lakh units.

• EV sales up 45% at 29,308 units.

• 3-wheeler sales down 23% at 10,856 units.

• Exports up 9% at 95,708 units.

Hyundai Motor India Ltd. saw its highest-ever monthly SUV sales at 37,902 units, including highest-ever monthly domestic sales of the Hyundai CRETA at 17,497 units in October 2024. Overall SUV contribution to domestic sales continued to stay strong at 68.2% in October 2024, according to a press statement.

Hyundai Motor India Ltd. said it hit the third highest monthly sales since inception in October 2024 with 70,078 units sold.

"“We witnessed a strong demand for our SUV portfolio during festive period, leading to our highest-ever monthly SUV sales at 37,902 units, including highest ever monthly domestic sales of the Hyundai CRETA at 17,497 units," said COO Tarun Garg.

Here's a breakup (YoY):

• Domestic sales up 0.8% at 55,568 units.

• Exports up 6.7% at 14,510 units.

In October 2024, Escorts Kubota Ltd.'s agri machinery division achieved record monthly sales of 18,110 tractors, marking a 19.8% increase compared to 15,113 tractors sold in October 2023.

The company attributed the demand increase to festive season, favorable macroeconomic conditions, increased Minimum Support Price (MSP), and an above-average monsoon season, which resulted in higher water reservoir levels.

"These improved trading conditions are likely to see continuing sales growth in the later part of the fiscal year as well," a statement said.

Here's a breakup (YoY):

• Domestic sales up 22.6% at 17,839 units.

• Exports down 51.9% at 271 units.

• Total sales up 19.8% at 18,110 units.

Also read why Emkay Global sees potential in Escorts Kubota stock here.

VE Commercial Vehicles Ltd, a joint venture between the Volvo Group and Eicher Motors Ltd, saw a 5% decline in sales at 7,112 units in October.

Domestic sales fell 6.6% to 6,611 units of Eicher trucks and buses.

Royal Enfield reported record monthly sales of 1,10,574 motorcycles in October 2024, marking the highest figures in the brand's history, Eicher Motors Ltd said on Friday.

This represents a 31% increase compared to the same period last year, when 84,435 motorcycles were sold. Additionally, Royal Enfield exported 8,688 motorcycles during the month, up from 3,477 in the same period last year.

"All our new and existing motorcycles have continued to perform well and we are confident that with our upcoming launches we will be able to sustain this growth momentum," said B Govindarajan, CEO of Royal Enfield.

Here's a breakup (YoY):

• Total motorcycles sales up 31% at 1.11 lakh units.

• Total exports up 150% at 8,688 units.

• Total domestic sales up 26% at 1.02 lakh units.

Maruti Suzuki India Ltd. reported a 20% jump in sale of sport utility vehicles or SUVs. It sold 70,644 units in October this year, compared to 59,147 in the same month last year.

These include models like Brezza, Ertiga, Fronx, Grand Vitara, Invicto, Jimny and XL6.

The impressive SUV figures come in the backdrop of a 5% decline in total domestic personal vehicle sales to 1.6 lakh units last month.

In October, Maruti Suzuki India Ltd. achieved its highest-ever monthly sales volume, selling a total of 2,06,434 units. This figure includes domestic sales of 1,63,130 units, sales to other OEMs totaling 10,136 units, and record monthly exports of 33,168 units.

Sales in the mini and compact car segment fell from 95,230 to 76,635 units on a yearly basis.

Here's a breakup (YoY):

• Total sales up 4% at 2.1 lakh units.

• Total domestic sales down 2% at 1.7 lakh units.

• Total domestic personal vehicle sales down 5% at 1.6 lakh units.

• Total exports up 51% at 33,168 units.

Tata Motors Ltd. sales in the domestic and international market for October 2024 stood at 82,682 vehicles, compared to 82,954 units in the same period last year.

Here's a breakup (YoY):

• Total domestic sales flat at 80,839 units.

• Total electric vehicle sales down 2% at 5,355 units.

• Total personal vehicle sales flat at 48,423 units.

• Total commercial vehicle sales flat at 34,259 units.

Mahindra & Mahindra Ltd. clocked its highest ever monthly SUV sales in October 2024 as the company continued to make more to keep up with the demand.

Sales of India's largest SUV maker by revenue rose 25% year-on-year to 54,504 units as against 43,708 units in the year-ago period, according to a media statement on Friday. Including exports, that figure stood at 55,571. 

“We are excited to have clocked the highest-ever SUV sales of 54,504 units in October, a growth of 25% and highest ever total volume of 96,648 units, a growth of 20%," Veejay Nakra, president (automotive division) at M&M, said in the statement. "The month began on a fantastic note with Thar ROXX garnering 1.7 lakh bookings in the first 60 minutes. The momentum continued across the SUV portfolio through the festive season.”

In the commercial-vehicle space, including three-wheelers, sales rose 5% year-on-year to 9,826 units as against 9,402 units last year.

India's automobile industry in October saw some pockets of growth and lacklustre performance elsewhere as sticky inventory and depressed urban demand weighed on sales during the crucial festive season.

Auto wholesales—or dispatches to dealerships from the factory floor—rose for the wider industry. A return of rural demand likely aided two-wheeler volumes while carmakers continued to align production with demand on the ground. Commercial vehicles are still stuck in the loop of cyclicality, but tractor sales are likely to see an upswing in the aftermath of a healthy monsoon.

Against that backdrop, here's a look at which automaker sold how much in the month gone by.