Indian carmakers report strong demand ahead of the festive season
Tata Motors expects over 12,000 Dhanteras deliveries, Hyundai projects 14% growth, and Mahindra's SUV stock is near zero. Source: Moody's.
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what happened
Passenger vehicle makers in India reported strong demand during the Dhanteras and Diwali festive period, according to Moody's. Tata Motors Passenger Vehicles expects single-day deliveries on Dhanteras to top 12,000 cars, and its retail volumes have grown by more than 20% since Ganesh Chaturthi compared with a year earlier.
Hyundai Motor India expects to deliver about 16,000 vehicles across Dhanteras and Diwali, roughly 14% more than last year. Mahindra & Mahindra said its SUV dealer stocks are almost depleted, with inventory covering about eight to nine days excluding vehicles in transit, and that October volumes exceeded the capacity it had previously indicated.
Mahindra also keeps its outlook for mid-to-high-teen growth in its SUV business in fiscal 2027.
why it matters
For markets, this points to resilient retail demand in India's auto sector. Still, Mahindra's near-empty dealer inventory suggests production may be struggling to keep pace with buyers, a factor investors weigh when assessing sector companies. All figures come from the automakers' own statements rather than official statistics.
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- Automakers See Strong Festive Demand As Tata Motors Expects Over 12,000 Dhanteras Deliveries — Moody's, 7 November 2026 at 16:31 UTC
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