Auto Stocks in Focus: October 2024 Sales Released

The Indian automobile industry has always been a reliable gauge of the state of the country’s economy. Indian automotive industry is aiming to strengthen vehicle export by 5 times during 2016-26. In FY23, total automobile exports from India stood at 47,61,487. Indian automobile exports of two-wheelers stood at 36,52,122 in FY23.  

During October 2024, the auto players posted mixed numbers with double-digit growth experienced by Mahindra & Mahindra and two-wheeler manufacturers TVS Motors and Hero MotoCorp while sales were witnessed by truck and bus makers.

Auto Sales November 2024

• Maruti Suzuki recorded domestic sales of 163,130 units, sales to other OEMs of 10,136 units and the highest-ever monthly exports of 33,168 unit
• Tata Motors posted total sales for MH&ICV, including trucks and buses, stood at 16,274 units compared to 16,048 units in October 2023.
• In the Utility Vehicles segment, Mahindra sold 54504 vehicles in the domestic market, a
• growth of 25% and overall, 55571 vehicles, including exports. 
• TVS Motors recorded a growth of 14% in total two-wheelers sales with an increase from 4,20,610 units in October 2023 to 4,78,159 units in October 2024.
• Hero MotoCorp’s electric vehicle brand, VIDA, continued to have a strong growth trajectory this year and achieved its highest-ever monthly dispatches, reaching 8,750 units in October 2024.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.