Passenger vehicle retail sales in November dip after festive month in October

Domestic passenger vehicle (PV) retail sales is estimated to be around 3.30-lakh units in November this year, down around 15 per cent year-on-year (y-o-y) as compared with around 3.80-lakh units in the same month last year. However, in the wholesales numbers (dispatches to dealers), the industry is estimated to have sold around 3.50-lakh units in November against 3,35,954 units in the same month last year, Partho Banerjee, Senior Executive Officer – Sales and Marketing, Maruti Suzuki India (MSIL), told businessline.

Combination of several factors including the momentum of October continuing in November, ongoing rural demand, wedding season and increased sales of SUVs and good response for limited edition models helped the sales to grow, he said.  “Rural penetration now stands at 48.7 per cent in November. It has increased about 2.2 per cent from the same month last year. Rural penetration from April to November this yeas stands at 48.8 per cent. For December, network stock is very much in control and we are keeping one-month’s stock...with some customers there even to buy in December and not waiting for purchase in January-February, I think we are prepared for the month of December,” Banerjee said. He added that December is also a crucial month for the industry as sales are strong even though discount schemes are almost similar to the festive season, some regional dealers even giving more discounts on their own discretion.

On the monthly wholesales, the company recorded 1,41,312 units in November, a growth of 5.3 per cent y-o-y compared with 1,34,158 units in November 2023.  Tata Motors also grew by a lower single digit (2 per cent y-o-y) to 47,063 units during the month compared with 46,068 units in November last year. However, second largest PV manufacturer, Hyundai Motor India (HMIL) reported a decline of 2.4 per cent y-o-y to 48,246 units during the month against 49,451 units in November last year.

But the company said its push towards fortifying SUV supremacy continued in November with SUVs contributing 68.8 per cent of its total domestic sales. “We also bolstered HMIL’s presence in the hinterland of India, by achieving highest ever monthly rural contribution of 22.1 per cent in November. Our innovative Hy-CNG technology continues to strengthen HMIL’s CNG sales, with a 14.4 per cent contribution in November,” Tarun Garg, Whole-time Director and Chief Operating Officer, HMIL said.

Meanwhile, Toyota Kirloskar Motor (TKM) also recorded wholesales of 25,586 units in November, a growth of 44 per cent y-o-y compared with 17,818 units in the same month last year. In the first eight months of financial year 2024-25 (FY24-25), TKM achieved total sales of 2,19,054 units, reflecting a 39 per cent y-o-y growth over the 1,63,636 units sold during the same period in FY23-24, the company said.

JSW MG Motor India also recorded growth of 20 per cent y-o-y in its domestic wholesales to 6,019 units in November compared with 5,026 units in November 2023. The company’s EV sales contributed 3,144 units to the total sales, it said.

In the two-wheeler segment, market leader Hero MotoCorp reported y-o-y decline of 7.66 per cent to 4,39,777 units as compared with 4,76,286 units in November 2023. Both TVS Motor Company and Suzuki Motorcycle reported a single digit growth y-o-y while Royal Enfield reported a decline of four per cent y-o-y in its November sales.