New Delhi, Dec 2: India’s passenger vehicle market recorded strong growth in November, with domestic wholesales rising to around 4.25 lakh units, marking a year-on-year jump of 20.7 per cent.
The surge in demand was driven largely by reduced prices after the recent GST rationalisation, which has encouraged customers to buy new vehicles.
Maruti Suzuki India (MSIL) reported that the market sentiment remains very strong.
Partho Banerjee, senior executive officer of marketing and sales at MSIL, said during a virtual press conference that eight of the company’s models are completely sold out at the factory level, with no units available for dispatch.
He added that dealers currently have around 80,000 units in stock, which is equal to 19 days of inventory, while another 40,000 units are on the way.
MSIL’s domestic wholesales rose 21 per cent year-on-year to 170,971 units in November.
Banerjee also said that December is expected to be another strong month as the production team is working overtime to meet demand.
Overall, he estimated that the industry’s passenger vehicle wholesales in November this year were about 425,000 units compared to roughly 352,000 units in November last year.
For the full financial year FY26, he expects the auto industry to grow by 5–6 per cent.
Industry data from the Society of Indian Automobile Manufacturers (SIAM) earlier showed that domestic PV wholesales had grown 17.2 per cent year-on-year in October, touching 460,739 units, supported by festive demand and GST reforms.
Among individual companies, Tata Motors Passenger Vehicles secured the second position in domestic wholesales for November.
The company dispatched 57,436 units, reflecting a 22 per cent rise from last year. Mahindra & Mahindra followed closely with 56,336 units, recording a growth of 21.9 per cent.
Hyundai Motor India also posted positive numbers, with domestic wholesales up 4.3 per cent to 50,340 units.
Toyota Kirloskar Motor reported domestic wholesales of 30,085 units in November, an increase of 19.5 per cent.
Varinder Wadhwa, vice-president for sales, service and used car business, said that strong festive demand, GST reforms, and the success of new models like the Urban Cruiser Hyryder Aero Edition and Fortuner Leader Edition have contributed to the company’s growth.
–IANS