Preview: Indian carmakers to post strong October wholesales on festive, tax cuts boost, analysts say

Hyundai Motor India

31/10/2025 07:42

** Indian automakers experienced strong festive growth, which is expected to translate into upbeat October wholesales, Jefferies says

** GST benefits, improved rural sentiments and onset of wedding season some of the tailwinds, says PhillipCapital

** Inventory levels also remain low-to-moderate, indicating robust wholesale momentum -PhillipCapital

** Jefferies estimates for October domestic wholesales:

Carmaker
RIC
October wholesales
YoY %
Maruti Suzuki
MRTI.NS
197,000
14
Hyundai Motor India
HYUN.NS
57,000
3
Tata Motors
TAMO.NS
65,000
34
Mahindra & Mahindra
MAHM.NS
107,100
11

   ** Autos index .NIFTYAUTO up 1.5% so far in October vs Nifty 50 .NSEI 4.9% climb

 (Reporting by Kashish Tandon in Bengaluru)

 ((Kashish.tandon@thomsonreuters.com))