GST Rate Cut Makes An Impact , Leading Car Makers Report Record Sales In Domestic Market

Picture : @Mahindra_Auto/X ( Representational Purpose Only)

Top carmakers led by Maruti Suzuki, Mahindra & Mahindra, Tata Motors Passenger Vehicles and Kia India  reported record sales in the domestic market riding on festive demand boosted by GST rate cut.

Other manufacturers such as Skoda Auto India and Toyota Kirloskar Motor also posted impressive growth in sales in October.

“In October, we did a retail of 2,42,096 units, which is a growth of almost 20 per cent over the last year,” Maruti Suzuki India senior executive officer, marketing & sales, Partho Banerjee, told reporters in a virtual interaction.

It was the highest-ever retail sale that the company did in an October.

In the 40-days festival period starting from Navratra, he said the company had 5 lakh bookings with 4.1 lakh retail sales, “which is almost double of the last year”.

Banerjee said before the GST reforms there were challenges in the new set of first-time car buyers entering the market but after GST 2.0 many customers have started coming to showrooms.

In terms of wholesales, Maruti Suzuki India said its total domestic sales, including commercial vehicles, stood at an all-time high of 180,675 units as against 163,130 units in the same month last year, up 10.75 per cent.

Domestic passenger vehicle sales were at 176,318 units as against 159,591 units in October 2024, up 10.48 per cent, it added.

Mahindra & Mahindra Ltd also reported record SUV sales in the domestic passenger vehicle market growing by 31 per cent to 71,624 units in October as compared to 54,504 units in the same month last year.

“In October, we achieved SUV sales of 71,624 units, a growth of 31 per cent, which is the highest SUV sales we have clocked ever in a month,” M&M CEO, Automotive Division, Nalinikanth Gollagunta said.

Tata Motors Passenger Vehicles Ltd also reported its best ever wholesales at 61,295 units in October as compared to 48,423 units in the same month last year, a growth of 26.6 per cent.

The record-breaking monthly wholesales for the second consecutive month at 61,295 units was led by SUVs with over 47,000 units sold, achieving the highest-ever 77 per cent share in monthly sales, Tata Tata Motors Passenger Vehicles said in a regulatory filing.