New Delhi, Dec 2 The Indian automobile sector witnessed a robust festive season (September+October+November) as passenger vehicle (PV) wholesale was up 12 per cent year-on-year (YoY) and retail was up 15 per cent, while two-wheeler (2W) wholesale was up 9 per cent YoY and retail up 18 per cent YoY, a report said on Tuesday.
This implies inventory is manageable, and December could be another strong month with low discounts.
The 2W witnessed continued demand, especially in entry-level segments during the period, HSBC Global Investment Research said in its report.
"PV demand has been good so far, but we have yet to see any meaningful growth from first-time buyers or entry-level segments. If this trend persists, we might see an increase in discounts in the fourth quarter," the report added.
CV sales growth was strong on the back of pent-up demand post monsoon, and the medium-heavy commercial vehicle (MHCVs) to grow by 5-6 per cent YoY in FY26.
Among four-wheelers, Maruti's overall volumes rose 26 per cent YoY, as domestic sales grew 21 per cent and exports by 61 per cent. Within domestic sales, car sales increased by 19 per cent YoY, but UVs declined by 23 per cent YoY.
M&M's SUV wholesale was 56.3k units, up 22 per cent. Tata's PV volumes grew 26 per cent YoY, with EVs up 52 per cent. Meanwhile, Hyundai domestic sales rose 4.3 per cent, while its exports were up 35.2 per cent in November.
Among the two-wheeler manufacturers, Bajaj's domestic 2W volume was flat YoY, while exports were up 7.7 per cent. TVS' 2W volumes rose 27 per cent YoY, with domestic volumes growing at 20 per cent and exports at 52 per cent. Meanwhile, RE's domestic volume increased 25 per cent YoY, and exports by 2.4 per cent YoY.
At the same time, tractor manufacturer M&M's domestic volume grew by 33 per cent, while Escorts' grew by 16 per cent YoY. M&M's exports increased 8.8 per cent, while Escorts grew 88 per cent YoY on a smaller base.
The overall commercial vehicle (CV) volumes for key original manufacturers (OEMs) rose 28 per cent YoY, with light commercial vehicles (LCVs) up by 29 per cent, MHCVs up 33 per cent YoY, and buses up 10.5 per cent.
Tata Motors' truck sales rose 34.5 per cent, and overall CV sales were up 35.6 per cent. Eicher's HCV truck domestic CV volumes rose 41 per cent, and its overall CV sales were up 36 per cent.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor