India's overall auto sales witnessed a strong 32 per cent year-on-year (YoY) growth in October, with the two-wheeler segment leading the surge, according to a report by the Federation of Automobile Dealers Associations (FADA) released on Wednesday.
The country's automobile industry reflects a varied performance across different segments in October sales with impressive growth in two wheelers, modest gain passenger vehicle and subdued performance in commercial segment.
As per the industry data, the spike highlights a significant rise in consumer demand for four-wheelers during the festive period, despite a modest year-on-year growth of just 1.8 per cent in the broader passenger vehicle sector, which recorded a total of 401,447 units.
Two-wheeler manufacturer Hero MotoCorp on Monday reported that it has achieved its highest-ever retail sales during the recent festive period, starting from Navratri.
The domestic sales of trucks of Ashok Leyland declined by 13 per cent in October Y-o-Y while the sales of buses registered a growth of 8 per cent, as per the sales number released by the company on Monday.
October saw faster expansions in both total new orders and exports, driven by increased demand from markets across Asia, Europe, Latin America, and the U.S. Businesses reported that new products and successful marketing campaigns were significant factors in boosting sales.
The domestic two wheeler sales of Bajaj Automobiles declined by 8 per cent in October year on year, according to the sales figure data released by the company on Monday.
Foreign portfolio investors (FPIs) sold stocks worth Rs 94,017 crore in India through October, suppressing the stock market's overall performance. In the process, they became net sellers in India, after having remained buyers for four months.
After a successful Diwali season, traders across the country are now preparing for major business opportunities in the upcoming wedding season, set to begin with Dev Uthani Ekadashi on November 12 and continue until December 16.
The Indian residential real estate sector has witnessed a strong surge in recent years, with the top 15 listed developers reporting a Compound Annual Growth Rate (CAGR) of 43 per cent in pre-sales from FY21 to FY24, reaching Rs 1.2 trillion, according to the Axis Capital report.
Bengaluru (Karnataka) [India], November 2: TVS Motor Company recorded monthly sales of 489,015 units in October 2024 with a growth of 13% as against 434,714 units in the month of October 2023.