Amid strong festive demand, Car dispatches likely to make new record in Oct

In October, Car manufacturers are expected to have broken all previous records of dispatches to dealers amid strong customer demand. According to The Economic Times, carmakers are likely to have shipped 380,000 to 385,000 cars in October.

This number is more than the previous record of 362,000 dispatches in September, according to industry estimates. If these sales turn out to be true, it will translate into a growth of 13.5-14.5 per cent from the previous year, which is the highest monthly increase in more than a year, the ET report said.

Car sales are estimated to set new records this festive season, with October expected to be one of the last months of such strong growth as the festive season concludes in two weeks with Diwali.

Thereafter, car dispatches are likely to decline as carmakers will try to align their supplies according to the moderating sales volumes in the coming months, the ET report said.

Car sales have broken the sales record for a third straight month in October. If the October sales numbers touch the estimated figure of 380,000 units, the total cars sold in the first ten months of the calendar year 2023 will likely touch 3.45 million units. Senior executive officer at Maruti Suzuki, Shashank Srivastava, told ET, "October will be yet another month of record dispatches." However, he admitted that the stock reduction in October hasn't happened at the expected levels. "While October retails have been strong, it's below expectations, that's why the disquiet," Srivastava added.

According to data available on the portal Vahan, there have been more than 300,000 monthly passenger car registrations for three months in a row starting in August.

On the other hand, the chairman of research and academy at the Federation of Automobile Dealers Association of India (Fada), Vinkesh Gulati, said that the number of bookings has come down along with the enquiries for new car purchases. However, he added that this year, we have a good period of three months of consecutive good sales.