The automotive retail sales in India is back in the green, and for October 2024, the convergence of Navratri and Diwali has helped register robust growth across segments.

According to the latest data released by the Federation of Automobile Dealers Association (FADA), a total of 2.8 million vehicles were registered last month, up 32.14 percent YoY, compared to 2.14 million vehicles sold last year.

This included 2 million two-wheelers (+36.34 percent YoY); 122,846 three-wheelers (+11.45 percent YoY); 483,159 passenger vehicles (+32.38 percent YoY); 64,433 tractors (+3.08 percent YoY) and 97,411 commercial vehicles (+6.37 percent YoY).

C S Vigneshwar, President, FADA stated that festivities traditionally account for 30–35 percent of total annual auto sales. The industry was keenly observing how October would unfold.

He said, “With dealers entering this crucial period fully committed and carrying all-time high inventory levels, the month did not disappoint!”

FADA shared that the rural market once again played a leading role in driving growth, particularly in the two-wheeler and passenger vehicle segments. Additionally, the Government of India's announcement of an increase in the Minimum Support Price (MSP) for Rabi crops further boosted market sentiments.

The two-wheeler sales were driven by festive schemes, discounts along with new model launches that drove consumer interest. The dealers were able to support the demand on the back of better stock availability and suppliers from OEMs.

In the passenger vehicle segment too, aggressive offers, attractive schemes and new model introductions further stimulated demand.

“Enhanced vehicle availability and strong market interest, especially for SUVs and new products, also contributed to the exceptional sales. However, despite strong sales, PV OEMs continue to heavily stock dealers, resulting in inventory levels decreasing by only five days, with overall inventory still at a high of 75–80 days. This may thus lead the season of substantial discounts to continue until the end of the calendar year,” cautioned Vigneshwar.

The commercial vehicle segment growth was driven by various factors such as supportive agricultural markets and bulk purchases, particularly for container movements.

FADA states that however dealers faced challenges such as slow demand, sluggish construction activities, financial issues among customers and increased vehicle prices leading to higher EMIs.

“Overall, while there were areas of growth, the CV market faced headwinds that tempered its overall performance,” he shared.

Great Indian wedding

While the automotive industry has been seeing a mixed results in terms of retail demand, the expectation for the rest of the calendar year remains positive. An estimated 4.8 million weddings are scheduled across the country in November and December 2024. This is expected to bring an ‘unprecedented surge’ in demand for wedding-related goods and services.

For the automotive industry this could further amplify demand for two-wheelers and passenger vehicles. In the CV segment, while supportive agricultural markets and continued bulk purchases may contribute positively, dealers remain vigilant due to factors like sluggish construction activities, financial constraints among customers and an anticipated decrease in demand post-festivities.

But on the other hand, for the passenger vehicle segment, there are apprehensions about potential slowdowns caused by customers postponing purchases in anticipation of better year-end discounts. FADA also urges, PV OEMs to further rationalise supply.

The auto retail body states that while the industry is optimistic about near-term growth driven by the wedding season and favourable market conditions, dealers are mindful of potential challenges that could affect sales momentum as the year concludes.

‘The mixed sentiments reflected in the survey highlight the need for strategic planning and cautious optimism as the auto sector navigates the remaining months of the year,’ the note concluded.

Representational image courtesy: TomFlick/Pexels

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Nissan Motor India, a leading passenger vehicle manufacturer, has announced the Phase 2 rollout of its CNG retrofitment kit for the Nissan Magnite SUV 1.0-litre naturally aspirated petrol model.  

It was in May 2025, the automaker had first rolled out the CNG option for Magnite SUV at INR 74,999 at its authorised dealerships in 7 states – Delhi-NCR, Haryana, Uttar Pradesh, Maharashtra, Gujarat, Kerala and Karnataka.

Now, the company has expanded the availability of the CNG kit in Rajasthan, Bihar, Jharkhand, Madhya Pradesh, Chhattisgarh and Tamil Nadu. With this the company will cover 13 states in India with more to be added under Phase 3.

The CNG retrofitment kit is developed, manufactured and quality-assured by Motozen, a government-approved third-party vendor.  The customers can get their Magnite SUV fitted with CNG kit at the government-authorised fitment centres using a homologated kit compliant with local regulations and safety standards. Motozen is providing a 3-year/100,000 km warranty on the kit components.

Saurabh Vatsa, Managing Director, Nissan Motor India, said, “The New Nissan Magnite continues to be a key growth driver for us in India, and we’re committed to expanding its relevance in line with evolving customer needs. The Phase 2 rollout of our CNG retrofitment option reflects both the growing demand for cleaner mobility and our intent to offer credible, high-quality alternatives without compromising on the core strengths of the Magnite. With government-certified kits, authorised fitment, and extensive dealer network, this initiative enhances the Magnite’s value proposition while reinforcing our focus on accessible, sustainable solutions.”

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Toyota Kirloskar Motor’s popular offering the Innova HyCross has become a more attractive offering with the recent 5-star safety rating achievement for both adult and child occupant protection under the Bharat New Car Assessment Programme (Bharat NCAP). Since its launch in November 2022, the Innova HyCross has quickly become a segment leader, with over 135,000 units sold in India.

The certificate was formally presented in New Delhi by the Union Minister of Road Transport & Highways, Nitin Gadkari to Vikram Gulati, Country Head & EVP, Corporate Affairs & Governance and Sudeep Dalvi, CCO, SVP & Head State Affairs, Toyota Kirloskar Motor.

The Innova HyCross is built on the Toyota New Global Architecture (TNGA) platform, which is said to be engineered for robust crash safety and structural rigidity. It integrates the Toyota Safety Sense (TSS) suite, an advanced driver assistance system that includes features like a Pre-Collision System, Lane Trace Assist and Dynamic Radar Cruise Control.

Further enhancing its safety credentials, the Innova HyCross is equipped with six airbags across all grades, Vehicle Stability Control (VSC), Traction Control (TRC), Anti-lock Braking System (ABS) with Electronic Brakeforce Distribution (EBD) and ISOFIX child seat mounts.

 Varinder Wadhwa, Vice-President, Sales-Service-Used Car Business, Toyota Kirloskar Motor, said, “At Toyota Kirloskar Motor, safety is the fundamental pillar of our product development, manufacturing process, and also our customer-first approach. The Innova HyCross embodies this commitment, delivering a mobility experience where ownership experience is just as important as performance and comfort. The 5-star Bharat NCAP rating for the Innova HyCross is a recognition of this philosophy as it assures our customers that they are not only investing in advanced and sustainable mobility but also one of the safest vehicles. With a safety mindset, we will continue to raise the bar in making advanced safety accessible, thus strengthening trust in the Toyota brand as a pioneer in safe and reliable mobility.”

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Geely-owned British-luxury brand Lotus Technology, a leading provider of intelligent and luxury mobility, is set to acquire the remaining 49 percent stake in Lotus Advance Technologies (Lotus UK) from Etika Automotive. This follows a similar move by Geely International (Hong Kong), which exercised its put option earlier.

With this, Lotus Technology will acquire 100 percent of Lotus UK through non-cash transactions based on pre-agreed valuations. This strategic acquisition, expected to be completed by the end-2025 pending regulatory approvals, will allow Lotus Technology to fully integrate all businesses and operations under the Lotus brand and consolidate Lotus UK's financial results.

Lotus UK is responsible for the manufacturing of Lotus's sportscars and hypercars and also houses Lotus Engineering, a consultancy providing services to various original equipment manufacturers (OEMs) and Tier 1 suppliers worldwide.

The put options granted to Geely HK and Etika were part of a previous business combination agreement. These options became exercisable after Lotus UK and its subsidiaries exceeded 5,000 vehicle sales in 2024. The acquisition will involve Lotus Technology issuing new shares, valued at USD 10 per share, in exchange for the Lotus UK shares.

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Maruti Suzuki India, the country’s largest passenger vehicle manufacturer, has reported its wholesales for June 2025 and Q1 FY2026.

The company sold 118,906 passenger vehicles in the domestic market in June 2025, 8,812 units in sales to other OEMs and 37,842 units in exports. This translates to a decline of 13 percent, 12 percent and growth of 22 percent YoY, respectively.

For Q1 FY2026, the company’s domestic volumes contracted by 6 percent at 393,572 units in the domestic market, as compared to 419,114 units last year. Sales to other OEMs, grew by 19 percent at 28,807 units, as against 24,248 units sold a year ago. The company grew its exports by a robust 37 percent at 96,972 units, as against 70,560 units shipped last year. Overall, the company reported flat growth at 527,861 units across categories and segments. 

Interestingly, the company witnessed a decline across segments, including SUVs.

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