India October 2023: Third consecutive all-time monthly record (390,853)

First Top 10 finish for the Mahindra Scorpio.

It’s another all time record month for the Indian new wholesales market: sales are up 16.3% to 390,853 units. This is the third month in a row that the monthly record for any month is broken, after 360,230 in August and 362,836 in September. The year-to-date volume is up 9.1% to 3,475.317, a record after 10 months. This is the festive season in India which is auspicious to the purchase of new cars, it peaked with Dusshera last month and Diwali in early November. In this context, dealerships had stocked up on cars and were ready for the onslaught of sales for October.

Maruti Suzuki (+19.7%) breaks its monthly volume record at 168,047, eclipsing its previous best of 163,656 established in October 2020. It holds 43% of the market vs. 42.3% so far this year. Hyundai (+14.8%) trails the market slightly up manages its 2nd best ever volume at 55,128, only beaten by the 56,605 it reached also in October 2020. Tata (+6.9%) disappoints at #3 unlike Mahindra (+35.6%) which signs a third consecutive all time high month at 43,708 vs. 41,267 in September. Toyota (+56.3%) is the most dynamic carmaker in the market this month, with Skoda (+34.7%) also positing a solid uptick.

Over in the models lane, the Maruti Suzuki Wagon R (+23%) reclaims the top spot for the first time since last June  and is now only 159 units below the Maruti Suzuki Swift in the race for the year-end pole position. The Swift which is itself up 19.5% this month at #2. At #3, the Tata Nexon (+22.7%) is boosted by its facelift to a new all-time record month at 16,887 sales. It distances the Maruti Suzuki Baleno (-3.2%) and Vitara Brezza (+61.5%). The Tata Punch (+39.5%) is another model breaking its all-time volume record at 15,317, as do the Mahindra Scorpio (+82.5%) at 13,578, lodging its first ever Top 10 finish at #9, and the Mahindra XUV700 (+59.9%) at 9,297.

Previous month: India September 2023: Mahindra, Toyota break records again, all-time high month (again)

One year ago: India October 2022: Maruti Suzuki Alto repeats at #1, market up 29.3%

Full October 2023 Top 14 All brands and Top 80 All models below.