New Delhi, Dec 2 (NationPress) The Indian automobile industry experienced a vibrant festive quarter (September, October, November) as wholesale figures for passenger vehicles (PV) surged by 12 percent year-on-year (YoY), while retail sales escalated by 15 percent. In addition, two-wheeler (2W) wholesale rose by 9 percent YoY, with retail sales climbing 18 percent YoY, as reported on Tuesday.

This indicates that inventory levels are manageable, paving the way for what could be a strong December, characterized by minimal discounts.

Demand for two-wheelers remained robust, particularly in the entry-level segments, according to a report from HSBC Global Investment Research.

While PV demand has been encouraging thus far, there is yet to be significant growth from first-time buyers or entry-level segments. If this trend continues, we may see an uptick in discounts in the fourth quarter, the report noted.

The commercial vehicle (CV) sector experienced substantial growth, driven by pent-up demand following the monsoon season, with medium-heavy commercial vehicles (MHCVs) expected to grow by 5-6 percent YoY in FY26.

Among four-wheelers, Maruti's total volumes surged by 26 percent YoY, as domestic sales rose by 21 percent and exports increased by 61 percent. Within domestic sales, car sales saw a 19 percent YoY increase, although utility vehicle (UV) sales fell by 23 percent YoY.

M&M's SUV wholesale figures reached 56.3k units, marking a 22 percent increase. Tata's PV volumes rose by 26 percent YoY, with electric vehicle (EV) sales soaring by 52 percent. Meanwhile, Hyundai's domestic sales grew by 4.3 percent, and its exports were up by 35.2 percent in November.

In the two-wheeler segment, Bajaj's domestic volume remained stable YoY, while exports increased by 7.7 percent. TVS saw a 27 percent YoY rise in 2W volumes, with domestic sales growing by 20 percent and exports by 52 percent. Additionally, RE's domestic volume rose by 25 percent YoY, while exports grew by 2.4 percent YoY.

Tractor manufacturer M&M's domestic volume climbed by 33 percent, while Escorts saw a 16 percent YoY increase. M&M's exports rose by 8.8 percent, whereas Escorts experienced an impressive 88 percent growth YoY from a smaller base.

The total commercial vehicle (CV) volumes for leading original equipment manufacturers (OEMs) grew by 28 percent YoY, with light commercial vehicles (LCVs) increasing by 29 percent, MHCVs by 33 percent YoY, and buses by 10.5 percent.

Tata Motors reported a 34.5 percent increase in truck sales, with overall CV sales up by 35.6 percent. Eicher's heavy commercial vehicle (HCV) domestic CV volumes grew by 41 percent, and its total CV sales rose by 36 percent.