October auto sales – Maruti Suzuki and Tata Motors report a decline, Mahindra continues to grow

• The overall passenger vehicle sales reported a small increase in October 2024, after three months of decline.
• Mahindra and Mahindra continue to occupy the third spot with strong SUV sales.
• Maruti Suzuki continues to lead the market despite a decline in sales.

The month of October 2024 has not been the best for automakers despite the festive season in India. While the automakers managed to report a small increase in sales after three months of decline, rising inventory levels at dealerships continue to remain a concern.

The domestic PV sales increased to 401,447 units in October 2024, recording a modest 1.8% growth year-on-year.

Automakers report a decline

Maruti Suzuki, the country’s biggest automaker took a hit in October 2024, with 1,59,591 cars sold, down from 1,68,047 cars sold in October 2023, recording a 5% year-on-year decline in sales. However, the company reported strong exports, allowing it to record its highest-ever overall monthly sales at 2,06,434 vehicles, registering a 4% year-on-year growth.

The recently listed Hyundai comes in second, with 55,568 cars sold domestically in October 2024, up from 55,128 cars sold in October 2023, recording a 0.8% growth. Similar to Maruti Suzuki, Hyundai also recorded an increase in exports.

Mahindra continues to occupy the third position, with 54,504 cars sold during October 2024, up from 43,708 cars sold in October 2023, recording a 24.7% growth. The company has reported good numbers for the Scorpio, Thar ROXX and its other SUVs.


Tata Motors, which has been pushed to the fourth spot recorded a sale of 48,423 cars in October 2024 in the domestic market, down from 48,637 cars sold in October 2023, registering a 0.44% decline in sales.

Toyota reported strong numbers in October 2024, selling 30,845 cars, up from 21,879 units sold in October 2023, recording a growth of 41%. This includes an export of 2,705 units.

Kia India is next with 28,545 cars sold in October 2024, up from 21,941 cars sold in October 2023, recording a 30% increase in sales.

Honda recorded the biggest decline, with 10,020 cars sold in October 2024, down from 13,083 cars sold in October 2023, registering a 23.4% year-on-year decline in sales.

MG Motor recorded a 31% growth in sales, with 7,045 cars sold in October 2024.

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