Festive tailwinds drive car sales to record highs in October

Carmakers achieved new sales records in October, driven by festive demand and extending beyond SUVs. Maruti Suzuki reported the highest domestic sales, followed by Hyundai and Tata Motors. Maruti's passenger vehicle sales surged by 20.5% to 2,12,384 units, while its passenger car portfolio grew 18.4%. The company also saw a 26.1% increase in utility vehicles.

CNG sales accounted for about 40% of domestic volumes, highlighting the importance of run costs. Maruti is expected to gain market share in the coming months. Hyundai's domestic sales increased by 16.7% to 62,799 units, and exports rose by 21.1%. Tata Motors saw a 21% increase in passenger vehicle sales to 73,894 units, just 556 units behind Mahindra's SUV sales.

Mahindra's growth was modest at 2%. Tata's electric vehicle sales grew by 75%, contributing to over a fifth of its passenger vehicle business. Toyota Kirloskar Motor reported 30,360 units in total, while JSW MG Motor India saw a 19% increase in wholesale sales to 8,013 units. Renault surpassed all its 2025 sales in just 10 months, with a 31% increase in volumes during the Oct. The next few months will reveal if the festive buying translates into sustained demand.