Record October vehicle sales lift auto shares; Maruti up 2.4%
Passenger vehicle dispatches to dealers topped 5 lakh units in October, a record, with Maruti Suzuki, Hyundai and Mahindra & Mahindra all reporting their highest-ever monthly sales. Maruti sold 2,76,120 vehicles, about 25% more than a year earlier, with exports up 59%. Bajaj Auto sold 5,91,876 vehicles, up 14%, with exports up 18%. Electric car registrations reached 35,777 in October, almost double a year earlier, according to the government's Vahan portal as reported by Kotak Neo. The Nifty Auto index rose 1.33%, helped by lower oil prices, which reduce running costs for buyers.
The chain of consequences
- 1Festive demand lifts October vehicle dispatches
- 2Passenger vehicle dispatches top 5 lakh, a record
- 3Maruti, Hyundai and M&M post their best-ever month
- 4Nifty Auto rises 1.33%
Tends to gain
Carmakers and their parts suppliers
Tends to lose
Two-wheeler shares were mixed; Bajaj Auto slipped 0.1% despite 14% sales growth
If it reverses
If festive demand fades after Diwali or fuel prices rise again, monthly sales could slow.
Companies in this story
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