Wednesday, 09 Oct, 2024
By: Yash Gupte
Most automobile giants including Mahindra & Mahindra (M&M), Tata Motors, Maruti Suzuki, Kia India, Hyundai and others have witnessed a robust growth in the domestic market. Image Source: IANS
With the Society of Indian Automobile Manufacturers (SIAM), releasing the official data of passenger vehicle sales later this month, it is estimated that the total number of passenger vehicles sold in November would be around 3,25,000.
The month of November has brought cheers to the automobile manufacturers in India due to the continuing streak of high passenger vehicles sales.
Most automobile giants including Mahindra & Mahindra (M&M), Tata Motors, Maruti Suzuki, Kia India, Hyundai and others have witnessed a robust growth in the domestic market. October had reported the second highest sales of passenger vehicles after September in 2022. The festive season contributed significantly in record high sales of passenger vehicles. Experts had predicted that November might not be great as October due to the end of festive sales, but November too was a month of recovery for the automobile manufacturers in the country.
In October 2022, Original Equipment Manufacturers (OEM) were able to boost production and wholesales due to the relaxation of supply chain restrictions. Last October, the sales were negatively impacted by the exceptional shortage of semiconductors, the increase in fuel prices, the rise in input costs, and the ensuing increase in vehicle prices.
September recorded the highest sales of passenger vehicles with a sale of 3,55,043 units. October reported a sale of 3,36,298 units. Around 10 out of 16 automobile manufacturers have released the number of their monthly sales. With the Society of Indian Automobile Manufacturers (SIAM), releasing the official data of passenger vehicle sales later this month, it is estimated that the total number of passenger vehicles sold in November would be around 3,25,000.
Source: Autocar Professional
The top six players – Maruti Suzuki, Hyundai, Tata Motors, Mahindra & Mahindra, Kia India and Toyota Kirloskar Motor together account for 292,617 units or 94 percent of total sales in November 2022. The highest percentage of growth was witnessed by Skoda Auto India. It had sold only 2,196 units in November 2021 but this year’s November was a fortune making month for the company as it recorded a sale of 4,433 units. This amounts to 102 percent year-on-year growth.
Kia India stood at second position with year-on-year percentage of growth. The automobile company witnessed a year-on-year growth of 69 percent. It had sold 14,214 units in November 2021 whereas it recorded a sale of 24,025 passenger vehicles in November 2022. Kia India sold 9,811 more units of passenger vehicles in November 2022 as compared to November 2021.
The largest player in the domestic automobile market, Maruti Suzuki registered sales of 1,32,395 passenger vehicles in November 2022. Maruti Suzuki had recorded a sale of 1,09,726 passenger vehicles in November 2021. The company registered a year-on-year growth of 21 percent. Baleno, Celerio, Dzire (and Tour S), Ignis, Swift and Wagon R contributed the most as together they amounted for the sale of 72,844 units in November 2022, up from sale of 57,019 units in November 2021. Maruti Suzuki’s premium sedan, Ciaz saw demand grow sharply by 43 percent.
Tata Motors was able to sell 46,037 units of cars in November 2022. This is a record 55 percent higher compared to previous year’s data. Tata Motors had recorded sale of 29,778 cars in November 2021 which means that it sold 16,259 units more this year.
The company has a strong advantage over its competitors in the market due to its strong footprint in the electric vehicle (EV) market. At present, it has three models – the Nexon EV, Tigor EV and the fleet-only XPres-T EV. With the debut of the Mahindra XUV400, the first genuine competitor to the market leader in electric vehicles, Tata Nexon, in January 2023, the electric vehicle segment will also be contributing to the growth curve.
Hyundai Motors India and Tata Motors had a close competition as the former sold 48,003 units in November 2022 and Tata Motors recorded a sale of 46,037 in the same period.
Commenting on the sales of passenger vehicles in November 2022, Tarun Garg, Director (Sales, Marketing & Service), Hyundai Motor India said, “This year we have seen a sustained recovery and growth in demand for our cars. On the back of a strong festive season, we have achieved high double-digit growth in domestic sales in the last couple of months when compared to the same period last year.”
Another major player in the automobile market, Mahindra & Mahindra sold 30,392 units of passenger vehicles in November 2022 as compared to just 19,458 units in November 2021, registering a year-on-year growth of 56 percent.
Increase in sale of passenger vehicles in the domestic market has promoted the competition between the automobile companies and this hopefully will affect the economy in a positive way.
