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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French automotive major Renault India has announced the prices of the much-anticipated new-generation Duster SUV at INR 1.04 million (ex-showroom).

The SUV, which was first revealed on 26^th January 2026 in Chennai, is the first vehicle launched under the Renault International Game Plan 2027, a strategy establishing India as a primary hub for the company's operations outside Europe.

The Duster is constructed on the Renault Group Modular Platform (RGMP), with 90 percent of its components developed for the Indian market. Technical dimensions include 2,657 mm wheelbase, 212 mm ground clearance, 26.9deg approach angle and 34.7deg departure angle.

The SUV comes with the largest-in-segment panoramic sunroof, a 10.1-inch OpenR Link multimedia system with Google built-in, providing access to Google Maps and Assistant. A 10.25-inch TFT display serves as the instrument cluster and can replicate navigation data.

It introduces three engine configurations, including the first hybrid variant for the nameplate in India.

• Strong Hybrid E-Tech 160: A 1.8-litre engine paired with a 1.4 kWh battery. The system is designed to operate in electric mode for up to 80 per cent of urban driving.
• Turbo TCe 160: Produces 163 PS and 280 Nm of torque.
• Turbo TCe 100: An entry-level petrol option.

Transmission choices consist of a six-speed manual and a six-speed dual-clutch transmission (DCT) featuring a wet clutch.

As per the company, it has received 91 percent bookings for the Turbo TCe 160 engine variant, 39 percent pre-bookings in metros came for the Strong Hybrid E-Tech 160 engine variant. Renault Duster Hybrid variant has been sold out for the year with bookings reaching capacity.

Interestingly, the Duster SUV comes with an industry-first maximum seven-year warranty or 160,000km under Renault Forever program. The warranty is also transferable to make the resale value of the SUV.

The automaker has also introduced ‘Renault Subscription’ plans with no down payment options for the Duster SUV to attract a newer set of customers.

Francisco Hidalgo, Vice-President – Sales & Marketing, Renault India, said, “The new Renault Duster reflects exactly what Indian customers expect today: strong performance, real-world durability and everyday usability. With 163 PS from the Turbo TCe 160 and the advanced RGMP platform, it delivers genuine gains in ride, handling and robustness. Backed by flexible ownership options including subscription and a 7-year warranty, the SUV is engineered for how India actually drives.”

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Suzuki GB has announced a leadership transition, with Managing Director Takanori Suzuki set to retire at the end of May 2026. He will be succeeded by Kazuyuki Yamashita, who is joining the UK operation in April after a five-year tenure as Managing Director of Suzuki Deutschland.

Yamashita brings extensive international experience to his new role. He began his career with Suzuki Motor Corporation in 1987, holding various positions at the company’s Hamamatsu head office and across its global network. His leadership portfolio includes serving as Director of Automotive Sales for Suzuki Canada from 2001 to 2006, followed by a six-year term as Managing Director of Suzuki Auto South Africa until 2013. Most recently, he led Suzuki Deutschland from 2021 to 2026.

Takanori Suzuki’s retirement marks the end of a distinguished four-decade career with the corporation. This current term as Managing Director for Suzuki GB and the Republic of Ireland, which spanned three successful years, was his second in the role. He originally headed the Milton Keynes-based headquarters from 2005 to 2010 before returning to Japan to oversee operations for Suzuki Europe, Oceania and Latin America.

Following his retirement at the end of May, Takanori Suzuki will return to Japan. The company has extended its best wishes to him for a long and happy retirement while expressing anticipation for Yamashita’s arrival in UK to lead the next chapter for Suzuki GB.

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Japanese automotive major Honda Motor Co has announced the cancellation of three electric vehicle (EV) models intended for production in North America.

The decision affects the Honda 0 SUV, Honda 0 Saloon and the Acura RSX, which the company stated is due to the changes in the business environment and a reassessment of its electrification strategy.

The company identified several developments impacting its automotive operations:

• Market Demand: A slowdown in the expansion of the US EV market linked to changes in fuel regulations and revisions to incentives.
• Trade Policy: The impact of US tariff policies on the profitability of petrol and hybrid vehicle segments.
• Regional Competition: A decline in product competitiveness in China, where newer manufacturers lead in software-defined vehicle (SDV) technologies and development cycles.
• Resource Allocation: Challenges in delivering value for money in Asia due to the concentration of resources on EV development.

Honda expects to record write-offs, impairment losses on assets, and expenses related to the cancellation of these models. Total losses associated with the strategy reassessment are estimated to reach a maximum of USD 18.5 billion (YEN 2.5 trillion) in the coming years.

Revised Forecast for Fiscal Year Ending 31 March 2026

Estimates are preliminary as of 12 March 2026.

Despite the revised earnings, Honda will maintain its dividend forecast based on its dividend on equity (DOE) ratio indicator.

Going forward, Honda will reorganise its framework to focus on hybrid models in the US and Japan. The company intends to expand its model lineup and cost competitiveness in India, where market growth is anticipated.

In response to the financial revisions, executive compensation will be reduced:

• President and Vice-President: 30 percent reduction of monthly compensation for three months and forfeiture of performance-linked bonuses.
• Executive Officers: 20 percent reduction of monthly compensation for three months.

Total annual compensation for representative executive officers will decrease by 25 percent to 30 percent.

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Mumbai-based JSW Motors has further strengthened its management team with the onboarding of Rajan Sharma as the Head of Strategy & Planning.

Sharma comes with close to two decades of experience in the automotive industry and experience across sales and strategy.

Prior to joining JSW Motors, Sharma spent two years at Tata Motors as the Head – Sales Planning and was part of the company’s key product launches.

He begin his automotive career at Hyundai Motor India in 2004 and spent over nine years at the South Korean automaker, growing to the rank of Regional Manager for Rajasthan region.

Sharma then went on to have a two-year stint at Cardekho, before joining MG Motor India as the Field Sales Head for South and West Zone.

In his new role, Sharma will focus on accelerating JSW Motors presence in the Indian automotive market as the company gears up to launch a slew of new energy vehicles.

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