Car sales rise marginally

Domestic passenger vehicle sales rose 4.5 per cent in October, with manufacturers resorting to inventory correction after pushing stocks in the previous month ahead of festival season.

According to the Society of Indian Automobile Manufacturers (Siam) passenger vehicle sales last month were at 2,80,677 units, against 2,68,630 in October last year.

Domestic car sales were marginally higher at 1,95,036 units, compared to 1,94,158 in October last year, according to data released by Siam.

“In September, there was stock builtup ahead of the festive season but in October, it wasn’t the case. Therefore, the wholesale numbers of last month are a reflection of stock adjustment he companies,” Siam Director General Vishnu Mathur.

He said the industry was satisfied with the way all segments of the vehicles had grown this financial year.

In the April-October period, total vehicle sales across categories grew 15 per cent at 1,38,56,370 units, against 1,20,52,750 in the year-ago period.

During October, Maruti Suzuki saw its car sales dip 5.2 per cent at 92,886 units, against 97,951 in the same month last year.