Around 3,33,660 passenger cars were sold in the Indian market for October 2020. The sales increased by an impressive 17.5% in Oct’20 v/s Oct’19.
It is encouraging to see the Indian Passenger Vehicle industry recording double digit growth three months in succession. After a 19.6% YoY growth in Aug (source) and 31.14% growth in Sep’20 (source); the industry has registered a 17.5% growth in Oct’20. The festivities along with the inclination towards personal mobility has led to the upswing in passenger car sales and is a positive sign for the industry. Hope the momentum continues and the industry is able to maintain the growth in the coming months.
OEM-wise Sales Snapshot for October 2020 –
- Tata Motors is on a dream run from the past few months. It grew a phenomenal 79.2% YoY and the growth was one of the highest in the Industry! Tata Motors also recorded the highest Market Share growth in Oct’20 (it jumped from 4.6% in Oct’19 to 7.1% in Oct’20).
- Kia Motors India volumes shot up almost 1.6 times in Oct’20 v/s Oct’19! The launch of the new Compact SUV Sonet helped Kia to record its highest monthly sales in India since inception. Kia also was able to project one the highest YoY growth in the Indian market which helped its market share increase by 1.8%.
- Maruti Suzuki is doing everything possible to hold its dominance. The OEM registered a YoY increase of 17.6%.
- Even though Hyundai crossed 55k dispatches and recorded its all time highest figures; its market share fell by -0.6%. Creta’s resounding success did help Hyundai grow – but it is still behind the Industry average.
- MG too recorded its all time highest volumes! However; its YoY growth was only 6.1% v/s Industry growth of 17.6%. MG is now pinning hopes on the Gloster to gain numbers.
Market Share Graph for October’20 –