Auto Giants Report Mixed Sales in September Amid Inventory Cut

Maruti Suzuki, Hyundai, and Tata Motors reported a decline in wholesales for September as companies reduced dealer dispatches to manage inventory amid slowing demand. Maruti Suzuki saw a 4% dip in domestic sales, while Hyundai and Tata Motors experienced 6% and 8% declines, respectively. Other manufacturers like Mahindra, Toyota, and Kia reported sales increases.

Maruti Suzuki, Hyundai and Tata Motors reported a decline in wholesales for September as the companies curtailed dispatches to dealers to reduce inventory amidst declining demand.

Maruti Suzuki India saw a 4% dip in domestic passenger vehicle sales last month, totaling 1,44,962 units, compared to 1,50,812 units in the same month last year.

While sales of Maruti's mini segment cars like the Alto and S-Presso grew slightly to 10,363 units from 10,351 in September 2023, compact car sales, including models like Baleno, Dzire, and Swift, dropped to 60,480 units from 68,551 units the previous year.

In contrast, sales of the Brezza, Ertiga, S-Cross, and XL6 utility vehicles rose by 4% to 61,549 units.

Maruti's Senior Executive Officer, Partho Banerjee, noted that the company has been adjusting dispatches to balance dealer inventory with market demand. Despite the industry's expected single-digit growth this year, Banerjee anticipates a bounce during the festive season due to rising bookings.

Hyundai Motor India reported a 6% decline in dealer dispatches last month to 51,101 units, while Tata Motors saw an 8% drop to 41,063 units in the same period.

Other auto manufacturers reported mixed results: Mahindra & Mahindra's SUV sales climbed 24%, Toyota Kirloskar Motor's wholesales rose 14%, and Kia India sales surged 17%. On the other hand, JSW MG Motor India's sales fell by 8%.

In the two-wheeler segment, Bajaj Auto saw domestic sales increase by 23% to 3,11,887 vehicles, and Honda Motorcycle & Scooter India reported a rise to 5,36,391 units from 4,91,802 in the previous year.

(With inputs from agencies.)