Indian car makers had a actul October fest, selling so exciting 22 percent growth in October around 2.66 lac units. It is the third most maximum sales despatch in a month in the history of Indian car industry. The bike segment, which had been walking along, likewise broke into double digit 10 percent growth around the same month of October.
Seven of the main car makers have posted double digit development, helped by new dispatches, interesting offers alongside low fuel costs and single digit loan fees. Four of main five bike companies have recorded a double digit development, with Hero and Honda posting their most maximum sales in a month.
This double digit development has come generally higher base of October 2014 which saw both Dussehra and Diwali falling around the same period.
While the double figure development in October is in despatches from manufacturing plant to dealerships and not to end customers. Industry players say the inventory situation is good to meet demand in November on account of Diwali.
The top five car producers Hyundai Motor India, Mahindra and Mahindra, Maruti Suzuki, Tata Motors and Honda Cars India, have all posted double figure development. The dispatch of Kwid and Figo and Figo Aspire have helped Renault and Ford India to post double figure development.
Honda Motorcycle and Scooter India posted its highest sales of 4.49 lac units on Dussehra. Its opponents Hero MotoCorp, TVS Motor, Yamaha and Royal Enfield all posted double figure development but Bajaj Auto sales slipped 8% in October.
Hyundai Motor India Limited VP- sales and marketing said The company's sales are at a record high with a record-breaking high offers of Grand i10 and continued solid performance of Creta and Elite i20. The company is wanting to decrease the holding up period with maximised production.