The festive cheer chose to selectively bless the domestic automotive industry in October as Maruti, Mahindra & Mahindra, Honda and Toyota reaped the harvest while Tata Motors, General Motors and Ford continued to reel under the slowdown chill.
Market leader Maruti led the parade with a near 87% surge in sales during the month over the last year, led largely by a low-base effect and a first ever model change for its best selling Alto. Mahindra and Honda were no less impressive, each posting over 40% increase with the former pipping the Tatas for the number 3 spot yet again.
"We are confident the second half of the year would be better than the first half," said Mayank Pareek, chief operating officer, Maruti Suzuki. "The competition is intense, but it is in the rear view mirror. We are ahead and they are behind and we will outpace them."
The optimism is not all encompassing. Tata Motors, GM and Ford suffered due to a lack of new products and ideas. GM saw its sales decline by 33%, Tata by 16% while Ford remained flat.