Surge in SUV sales revs up India`s auto sector in Oct
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A surge in SUV sales revved up India's car market during the festive month of October as consumers switched preference to upgraded models on the back of higher incomes in an expanding economy.
Mahindra & Mahindra, Kia Motors, Hyundai, and market leader Maruti Suzuki were among the companies that reported a surge in SUV sales during the month.
"We are excited to have clocked the highest-ever SUV sales of 54,504 vehicles in October, a growth of 25 per cent and highest ever total volume of 96,648, a growth of 20 per cent. The month began on a fantastic note with Thar ROXX garnering 1.7 lakh bookings in the first 60mins and the positive momentum continued across the SUV portfolio through the festive season," M&M's Automotive Division President Veejay Nakra said.
Kia India said it had delivered 28,545 units in October 2024, marking a 30 per cent year-over-year growth compared to the 21,941 units delivered in October 2023. In October 2024, Kia India dispatched 22,753 units, apart from the domestic market, Kia’s Made in India products also saw strong demand overseas, with exports recorded at 2,042 units, the company said.
Maruti Suzuki, the country’s leading car manufacturer clocked a 19.4 per cent rise in SUV sales to hit a record high.
Similarly, the company’s arch rival Hyundai Motor India also recorded its highest-ever monthly SUV sales at 37,902 units.
The sharp rise in SUV sales comes as a relief to the auto sector as demand for new cars has slowed after two years of surging growth, forcing carmakers to reduce sales to dealers and offer higher discounts amid rising inventories of unsold cars.
According to the Vahan portal, over 28,545 customers (excluding Telangana) took delivery of Kia vehicles.
Kia's Head of Sales and Marketing Hardeep Singh Brar said: "Kia India is prioritising accelerated vehicle deliveries to meet growing demand while working closely with our dealer partners to manage inventory with precision. By aligning swift delivery with smart inventory control, we ensured our customers receive the timely delivery of their favourite vehicle, while our dealers benefit from streamlined, stable operations."
