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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Mumbai-headquartered business conglomerate Mahindra & Mahindra has announced its financial results for Q2 FY2026 with consolidated Revenue reaching INR 461 billion, marking a 22 percent YoY growth.

The consolidated Profit After Tax (PAT) stood at INR 36 billion, a 16 percent increase YoY. The company stated that, excluding specific one-time impacts, PAT growth was 28 percent YoY.

Mahindra’s Auto business reported sales of 262,000 vehicles, up 13 percent, which includes around 146,000 SUV sales. This translated to a revenue of INR 271 billion, up 25 percent YoY, while net profit came at INR 15 billion, up 8 percent YoY.

On the other hand, the farm sector reported its highest ever Q2 market share at 43 percent with sales of 123,000 units, up 32 percent YoY. The revenue came at INR 102 billion, up 25 percent, while consolidated net profit came at INR 11 billion, up 45 percent YoY.

Dr. Anish Shah, Group CEO & Managing Director, Mahindra & Mahindra, said, “We are pleased with the strong execution and solid performance delivered across the group in Q2 FY2026. Auto and Farm sustained their leadership with consistent gains in market share and profitability. TechM is progressing well on its transformation journey. MMFSL achieved a 45 percent PAT growth and remains committed to quality growth and digital transformation. Our Growth Gems are steadily advancing towards their ambitious goals, reinforcing our long-term value creation potential.”

Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), Mahindra & Mahindra, said, “Strong performance of our Auto and Farm businesses continues in Q2 FY2026 reinforcing our leadership position, with a gain of 390 bps YoY in SUV revenue share, and 100 bps YoY in LCV (< 3.5T) market share. In Tractors, we gained 50 bps YoY to reach 43 percent market share. Our Auto Standalone PBIT margin (excl. e-SUV Contract Mfg.) improved by 80 bps to 10.3 percent and core Tractor PBIT margins improved by 190 bps to 20.6 percent.”

Amarjyoti Barua, Group Chief Financial Officer, Mahindra & Mahindra, “Our solid Q2 consolidated results reflects the strength of our diversified portfolio. We continue to deliver on our strategic priorities. We had strong cash generation in the first half, delivering over INR 100 billion of operating cash flow. We remain committed to sustainable growth and value creation.”

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Hyundai Motor India Limited has globally launched the all-new Hyundai Venue and Hyundai Venue N Line, revising its popular compact SUV with prices starting INR 789,900 (ex-showroom).

The new Venue SUV is built on Hyundai’s Global K1 enhanced Platform. It has dimensions of 3,995 mm (Length), 1,800 mm (Width), 1,665 mm (Height) and a 2,520 mm Wheelbase.

The vehicle introduces the Connected Car Navigation Cockpit (ccNC) system, which NVIDIA accelerates. Technology includes Dual 62.5 cm (12.3-inch + 12.3-inch) curved panoramic displays and a 31.24 cm (12.3-inch) ccNC Navigation system. Up to 20 controllers are capable of Over-the-Air (OTA) vehicle updates.

Safety features include 6 airbags and Hyundai SmartSense ADAS Level 2 with 16 features. It is available with three powertrain options: Kappa 1.2-litre MPi petrol (5-speed manual transmission), Kappa 1.0-litre Turbo GDi petrol (6-speed manual or 7-speed DCT transmission) and U2 1.5-litre CRDi Diesel (6-speed manual or 6-speed automatic transmission).

The N Line is available in two variants, N6 (MT/DCT) and N10 (DCT). It is powered by the Kappa 1.0-litre Turbo GDi petrol engine. This engine delivers 88.3 kW (120 PS) and 172 Nm of maximum torque. Transmission options are a 6-speed manual or a 7-speed DCT. The vehicle includes paddle shifters, traction control modes and drive mode select. Technology features include the 31.24 cm (12.3-inch) ccNC Navigation system accelerated by NVIDIA, and up to 20 vehicle controllers capable of over-the-air (C-OTA) updates. For safety, the N Line is equipped with ADAS Level 2 with 21 features and over 70 advanced safety features. It features disc brakes on both the front and rear axles.

Unsoo Kim, Managing Director, Hyundai Motor India Limited, discussed the company's deep commitment to the Indian market, confirming an investment of over INR 450 billion. He noted that the all-new Hyundai Venue is the first product from the new Pune manufacturing plant and the first of 26 products planned by 2030.

"At HMIL, our commitment to India runs deep. We have recently announced an investment of over INR 450 billion, reaffirming our long-term vision for this vibrant market. The all-new Hyundai Venue marks the beginning of an exciting new chapter and it is the first product to roll out from our state-of-the-art Pune manufacturing plant and the first among the 26 products we plan to introduce by 2030. The launch of the all-new Hyundai Venue and Hyundai Venue N Line represents a significant milestone in our journey of automotive excellence," said Kim.

Tarun Garg, Whole-Time Director & COO, Hyundai Motor India, highlighted the Venue's strong market presence, with over 700,000 units sold and a consistent top-three position among compact SUVs in India. He confirmed that the all-new Hyundai Venue will be manufactured exclusively in India for global markets, supporting the 'Make in India for the World' vision.

"Since its debut in 2019, the Hyundai Venue has been one of the most successful nameplates in our SUV lineup, with over 700,000 units sold and a consistent position among the top three compact SUVs in India. Venue has played a pivotal role in strengthening Hyundai's SUV leadership and shaping our identity as a progressive and customer-centric brand. Preferred by young, aspirational working professionals who seek performance, Hyundai Venue has become a symbol of dynamic urban mobility and spirited individuality. With the launch of the all-new Hyundai Venue and Venue N Line, we are taking this success story to the next level. The new Hyundai Venue embodies disruptive design, advanced technology, superior safety and exhilarating performance, setting new benchmarks in the compact SUV segment. It also marks a proud moment for Hyundai Motor India, as the all-new Hyundai Venue will now be exclusively manufactured in India for global markets a true testament to the 'Make in India for the World' vision and the growing role of HMIL in Hyundai Motor Company's global strategy," said Garg.

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French automotive major Renault Group and Chinese automaker Geely have executed agreements to extend their strategic cooperation, focusing on the production and sales of zero and low-emission vehicles by Renault do Brasil for both the Renault and Geely Auto brands in the country.

As part of the agreements, Geely has acquired 26.4 percent stake in Renault do Brasil. Renault Group will remain the majority shareholder and continue to consolidate the entity in its accounts. As a minority shareholder, Geely gains access to the Brazilian industrial and commercial resources, which should accelerate its expansion in the region.

Renault do Brasil will produce Geely Auto-branded vehicles alongside Renault vehicles at the Ayrton Senna plant in Sao Jose dos Pinhais, Parana. This joint production is expected to increase output and sharpen the industrial complex's competitiveness.

Renault will utilise Geely's GEA new energy architecture to expand its zero and low-emission vehicle line-up for the Brazilian market.

Renault do Brasil will distribute Geely Auto's portfolio of zero and low-emission vehicles in Brazil, including the Geely EX5 electric SUV, opening up new growth opportunities in sales, financing, and services.

Francois Provost, CEO, Renault Group, said, “The partnership we are announcing today with Geely in Brazil marks a decisive step forward in our international strategy. It establishes an agile cooperation founded on industrial excellence and technological leadership. Once again, combining our strengths will make us more competitive, more innovative and more responsive in a fast-evolving automotive market.”

Eric Li, Chairman, Geely Holding Group, said, “Our continued cooperation with Renault in exploring new markets and new opportunities will make for a win-win scenario as both Renault and Geely are able to leverage technology scales on a global level to bring the best products to market.”

The cooperation aims to enhance both companies' presence in Brazil, a market that accounts for over 40 percent of vehicle registrations in Latin America in H1 2025. The two groups have previously collaborated on projects including joint investment into Renault Korea and the creation of Horse Powertrain.

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French automotive major Renault India has reported a 21 percent YoY wholesales growth for October 2025, selling 4,672 units compared to 3,861 units last year.

The company attributed the surge in sales to the successful launch of the new Triber and Kiger SUVs and the positive impact of the GST 2.0 reforms.

Renault India also reported a 9.54 percent increase in wholesales over the 4,265 units sold in September 2025. On the other hand, retail sales came at 5,041 units in October 2025 (as per VAHAN data), reflecting a 12.7 percent growth over the same period last year.

Francisco Hidalgo, Vice-President, Sales and Marketing, Renault India, said, “October recorded a notable upswing in sales, driven by overwhelming customer response to the newly launched Triber and Kiger. The models have captured strong interest across urban and rural markets alike, reflecting renewed consumer confidence and vibrant demand during the festive season. We are confident this encouraging momentum will continue in the months ahead.”

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