Diwali witnesses rise in passenger vehicle sales
Passenger vehicle sales lost momentum in October, with several companies posting a decline in dispatches as festival demand tapered off. Maruti Suzuki, however, continued to post strong numbers. The car market leader sent 135,128 vehicles to dealerships in the past month, registering a 9.3% increase from a year earlier with the Baleno and Vitara Brezza remaining hot sellers. They had sharply increased dispatches in September to cater to festival demand. Tata Motors saw sales growing marginally to 16,475 units on back of the Tiago, Hexa and Nexon witnessing good demand. Mahindra & Mahindra, which saw sales drop 5% to 23,413 units last month, said new refreshes and variants would help it carve a niche and maintain growth momentum during the period of slow year-end sales. Among 2-wheeler makers, Royal Enfield continued to enjoy a good run with sales (domestic & exports) growing 18% to 69,492 units in October. Chennai-based TVS Motor reported a 1.5% increase in 2-wheeler sales at 308,364 units last month.