The industry now looks set to hit the milestone of over 4 million units for the full calendar year, surpassing the 3.8 million units it had achieved last year.
However, the two-wheeler industry has failed to replicate the success of the four-wheeler industry, and continued to see lukewarm growth, though companies such as Hero Moto and Royal Enfield hope that demand will start picking up as the weeks pass by.
Maruti Suzuki dispatched 1.5 lakh units to dealerships in the month, with Shashank Srivastava, director (marketing & sales), predicting strong buying in the quarter. “We are confident that festive sales will be strong, with overall sales in the quarter expected at over one million units.”
The industry’s dispatches in September are estimated at over 3.6 lakh units – the highest-ever that have been sent to dealerships in a single month.
Hyundai had its second-strongest month in domestic dispatches at 54,241 units, which is a growth of 9%. The company has been witnessing strong demand for its SUV portfolio, which now accounts for 66% of its total sales. “Models such as the Exter mini SUV and the Creta offroader are witnessing record demand, and we are confident that the company will close the full year with a growth of around 9% and volumes of around 6 lakh,” Tarun Garg, COO of Hyundai’s India business, said.
“We had proactively reduced supplies of the outgoing models this quarter to enable a smooth transition to the new generation models. Going forward, with deliveries commencing of our new-generation products, we expect stepped up volumes in this festive season and beyond,” said Shailesh Chandra, MD of Tata Motors’ Passenger Vehicles and Electric Mobility Business.