New Delhi, Nov. 3 -- India's September cut in GST rates had the auto industry rejoicing. One can now see why. Carmakers posted record sales in October, as price cuts led by tax relief drew buyers in large numbers.

According to industry estimates, the wholesale offtake of passenger vehicles clocked 470,000 units, a 17% increase over last October. Almost all carmakers reported record domestic volumes.

Pent-up demand awaiting GST cuts this year may have amplified an annual festive-season surge in sales. But the acceleration is too sharp to attribute just to that factor, especially amid signs of a general rise in demand.

Car dealers across the country have been reporting increased footfalls, thanks to heavily taxed four-wheelers becoming m...