Domestic passenger vehicle sales cross 5-lakh mark in October

Driven by strong festive demand, domestic passenger vehicle wholesales reached an estimated 5.25-5.3 lakh units in October, surpassing the previous year's 4.6 lakh units.

Leading manufacturers recorded significant annual growth, with Maruti Suzuki reporting 20%, Tata Motors 21%, and Hyundai 16.7% increases in domestic dispatches.

Industry experts attribute the record-breaking sales to heavy OEM stocking for the festive season, supported by lower borrowing costs and recent income tax reforms.