Indian 4-wheeler auto sales show mixed trends in October
Source: Xinhua | 2020-11-02
Indian auto sales in the four-wheeler segment depicted a mixed scenario in October, as per the filings with the Bombay Stock Exchange on Sunday.
Maruti Suzuki reported a rise in sales volume while Mahindra reported a flat growth in the passenger vehicles and fall in in commercial vehicles over same month last year.
During the month under review, Maruti Suzuki posted total sales of 182,448 units, up 18.9 percent on year including domestic sales of 166,825 units and 6,037 units for other OEMs (original equipment manufacturers) and 9,586 units for exports.
Mahindra sold 18,622 passenger vehicles that includes cars, vans and utility vehicles in October, up 1 percent over the same month last year while sales of light commercial vehicles dropped by 56 percent to 3,118 units.
So far since April, Mahindra has reported sales decline of 43 percent and 89 percent in passenger and light commercial vehicles, respectively while Maruti Suzuki has reported 27.1 percent drop from April-October compared to the corresponding period last year.
"Wholesales are expected to be higher than retail sales as OEMs fill the channel to build up inventory (currently lower than normal level) for the festivals," said Anish Rankawat, research analyst of Nirmal Bang, a domestic stock brokerage house.
Our interactions with the dealers suggest that retail sales, especially in the nine days of festivals, have been around last year's levels and Diwali/Dhanteras are expected to be better, he said.
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