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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Redseer Strategy Consultants has released a new report stating that India is on track to become one of the world’s most attractive used-car markets. The analysis focuses on retail transactions of passenger vehicles. Market value is projected to double from approximately USD 35 billion in fiscal year 2026 to nearly USD 70 billion by fiscal year 2031.

Currently ranked fifth largest globally, India is forecast to rise to third place by the end of the decade, behind only United States and China. Unlike mature markets, India remains the fastest-growing among leading used-car economies. Structural advantages such as rising household incomes and a rapidly expanding car parc – expected to exceed 50 million vehicles by 2031 – support this trajectory.

A major structural shift is the compression of the car replacement cycle, which has fallen from seven to eight years in fiscal year 2021 to an expected four to five years by fiscal year 2031. Metros and Tier 1 cities are leading this transition. Shorter ownership cycles, driven by technology upgrades and evolving consumer preferences, are expected to significantly boost supply circulation.

Annual retail used-car sales are expected to reach 9–10 million units by 2031, while average selling prices will rise to between INR 650,000 and 690,000. Around 280 million households are predicted to be financially capable of buying a used car by 2031. About 65 percent of buyers are first-time owners. Financing penetration is projected to increase to 30 to 40 percent. Nevertheless, nearly 80 percent of transactions remain unorganised.

India’s used-to-new car ratio, projected to reach 1.6 to 1.7 by 2031, remains below mature market levels. Approximately 50,000 fragmented local dealers move only four to six cars per month using visual-only inspections and negotiation-led pricing. The formats serving most buyers score poorly on quality, transparency and post-sale support.

Full-stack players are addressing the trust deficit through end-to-end control over sourcing, inspection, refurbishment, technology-based pricing and value-added services. These platforms are projected to capture five to six percent market share by 2031, translating to roughly USD 4 billion in gross merchandise value. Globally, this model has proven profitable at scale, and India’s leading firms are following the same path.

Kushal Bhatnagar, Associate Partner, Redseer Strategy Consultants, said, “India’s used-car market is undergoing a fundamental transition from an informal, price-led space to a far more structured and trust-oriented mobility ecosystem. Shorter replacement cycles, rising incomes and improved access to financing are collectively expanding both supply and demand in a sustained manner. What is particularly significant is the shift in consumer mindset. Used cars are no longer being chosen merely as an economical alternative born out of compulsion but are increasingly being preferred for value optimisation, assured quality and the convenience offered by organised platforms. As these organised models, led by full-stack players, continue to scale and gradually eliminate the longstanding trust deficit, the used-car market is well positioned to establish itself as a central pillar of India’s personal mobility landscape.”

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Ferrari has introduced the Handling Speciale, a new optional configuration for the Purosangue model, aimed at further sharpening the sporting character of the marque’s first four-door, four-seat vehicle. This setup enhances mechanical and electronic responses for a more dynamic driving experience while preserving the everyday usability that defines the Purosangue. It targets customers seeking a stronger focus on sportiness without sacrificing daily use in any context.

The core attributes of the Purosangue remain unchanged, including the full four-seat accommodation, elevated yet sporty driving position and overall cabin practicality. The underlying architecture continues with a front-mid mounted naturally aspirated V12 engine and rear mounted gearbox, complemented by latest generation vehicle dynamics systems. The new setup revises active suspension calibration, reducing body movements by 10 percent for a more compact driving feel.

As a result, the Handling Speciale delivers more direct driver inputs, improving control through successive corners and rapid direction changes. Shift strategies have been reworked for quicker response times and more decisive gear changes, especially in Race and ESC Off modes. The effect is most noticeable during acceleration, where a sharper thrust sensation is prioritised, while manual mode shifts become more sporting above 5,500 rpm.

The cabin sound has been optimised with a dedicated setting more pronounced at start up and under acceleration, highlighting the V12’s character. Exclusive styling elements include wheels with a dedicated diamond cut finish, carbon fibre side shields, matt black exhaust tips, a black rear Prancing Horse emblem, a satin finish Ferrari script and a dedicated interior plaque.

This configuration enhances the sporting spirit of a project that has transformed the luxury high riding sports car segment while preserving the Purosangue’s identity as a versatile four-seater with typical Ferrari front mid-engine dynamics. Ferrari’s quality standards underpin the extended seven-year maintenance programme offered with this configuration, covering all regular maintenance for the first seven years.

The Genuine Maintenance programme, available across the Ferrari range and to pre-owned Ferrari owners, includes service intervals of 20,000 kilometres or once a year with no mileage restrictions, original spares and checks by factory trained staff. This service is offered worldwide through all dealerships on the Official Dealer Network.

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Stellantis India has started exporting the Citroen Basalt from its Chennai plant to South Africa. This shipment brings the total number of Citroen vehicles exported from India to South Africa to 10,000 units.

The Basalt is built on a platform developed in India by local teams for domestic and international markets featuring a 95 percent localisation level. This export programme is part of a strategy to use India as a hub for manufacturing and sourcing within the global Stellantis network.

The company stated that the increase in export volumes reflects the quality and cost competitiveness of its Indian operations. The growth in exports supports employment and the development of the local automotive sector.

Shailesh Hazela, CEO and Managing Director, Stellantis India, said, “Commencing Citroen Basalt exports to South Africa strengthens Stellantis India’s position as a competitive manufacturing, quality‑driven and sourcing base. As our export volumes grow, our focus remains on building a resilient and integrated ecosystem, from vehicles to components, delivered through a consistent and high‑quality supply cadence. This milestone reinforces India’s expanding contribution to our global operations.”

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SAIC Motor-owned British marquee brand Morris Garages (MG) presented its developments in electric mobility and driving systems at the Beijing Auto Show 2026. The OEM showcased the 2026 MG4, the MG 4X and the MG 07 as part of its transition to new energy vehicles.

Interestingly, MG Motor launched the 2026 MG4 with six variants. The model includes exterior colours such as Ice Crystal Blue and Almond Beige, a black roof and 17-inch alloy wheels. MG worked with artist Jacky Tsai and the Lu Xun Academy of Fine Arts to provide customisation options.

On the inside, MG4 features front seats with heating, ventilation, massage and memory functions. The technology suite consists of an 8-inch driver display and a 15.6-inch touchscreen with wireless CarPlay. Driver assistance systems were updated to include nose-in, custom, and dead-end parking functions. The MG4 utilises cell-to-body integration and a semi-solid battery.

Furthermore, the MG 4X SUV is scheduled for a debut in May, which will feature a semi-solid battery and rear-wheel drive with five-link suspension as standard.

MG also displayed the MG 07, a coupe built on a new energy platform. It will be available as a battery electric vehicle or a plug-in hybrid. Through a partnership with Momenta, the MG 07 will use the R7 solution and the XHEART X7 chip to provide urban Navigate on Autopilot. This system uses a world model to understand scenes and predict risks.

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