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According to industry estimates, the festive season has supported retail activity, but vehicle registration data does not yet fully reflect actual festive demand due to reporting lag.
Despite the positive sentiment, bulk dispatches are likely to be limited in October due to limited truck availability and fewer production days during the festive period.
Manufacturers have reduced discounts amid improving retail momentum and sustained inquiry levels, which are expected to remain strong for the next two to three months.
The overall demand environment, especially for PV and 2W, has seen a clear improvement as buyers are responding to price gains and festive offers. The CNBC-TV18 survey of major automakers estimates moderate year-on-year growth in two-wheeler and four-wheeler sales for October.
Among two-wheelers, Bajaj Auto’s sales are expected to grow 4% YoY to 5 lakh units from 4.8 lakh units, while Hero MotoCorp’s sales are expected to grow 1% to 6.89 lakh units from 6.79 lakh units.
TVS Motor sales are likely to rise 10% to 5.39 lakh units from 4.89 lakh units, and Royal Enfield is likely to rise 11% to 1.22 lakh units from 1.11 lakh units.
In the four-wheeler segment, Maruti Suzuki’s sales are expected to grow 4% year-on-year to 2.06 lakh units versus 2.15 lakh units, while Hyundai is expected to grow 1% to 71,087 units versus 70,078 units.
M&M Auto sales are estimated to rise 6% to 1.02 lakh units from 96,648 units, and Tata Motors sales are estimated to rise 13% to 93,830 units from 82,682 units.
Ashok Leyland sales are expected to grow 11% to 17,053 units from 15,310 units, while M&M tractor sales are likely to remain flat at around 65,228 units compared to 65,453 units last year.