Maruti Suzuki continues to steer the listing whereas Citroen, Mahindra and Kia recorded sturdy progress.
Producers made essentially the most of Dussehra and Diwali as folks desire shopping for automobiles round this time of the 12 months in India. In October 2022, the wholesale numbers for the passenger car business – for 14 out of 16 producers – stood at 3,36,298 items, which is a 29 p.c enhance over final 12 months. October is the fifth month in a row the place despatches have crossed 3,00,000 items.
|October 2022 Passenger Automotive Gross sales|
|Carmaker||October 2022||October 2021||YoY progress||Distinction|
The cumulative gross sales for the primary seven months of the fiscal is 22,69,633 items, and this lays the primary basis for a continued drive to realize the highest-ever passenger car gross sales for a fiscal. If the identical tempo of progress and momentum continues within the remaining months of FY2023 (April 2022-March 2023), India’s passenger car gross sales will surpass FY2019’s (April 2018-March 2019) 33 lakh items by a good margin.
The highest six producers – Maruti Suzuki, Hyundai, Tata, Mahindra, Kia and Toyota – collectively account for 3,02,319 items or 90 p.c of the whole gross sales in October. Of those, Maruti Suzuki alone has a 42 p.c share. Here’s a have a look at how the automobile manufacturers fared.
Maruti Suzuki India: 1,40,337 items / 29 p.c YoY
The market chief registered whole gross sales of 1,40,337 items, up 29 p.c over October 2021’s 1,08,991 items, but it surely was a 5.42 p.c decline over September 2022’s 1,48,380 items. The corporate stated that the scarcity of digital parts had a slight influence on the manufacturing of automobiles, primarily within the home market.
What labored in Maruti Suzuki’s favour was that the demand is slowly, however steadily rising for its entry-level automobiles – the Alto and S-Presso. All Maruti automobiles besides the Eeco witnessed progress, and the Alto and S Presso noticed mixed gross sales of 24,936 items – up 14.22 p.c over the identical interval final 12 months.
The Baleno, Celerio, DZire (together with Tour S), Ignis, Swift and Wagon R which bought a mixed 73,685 items, confirmed a robust 51 p.c progress over final 12 months. Maruti Suzuki additionally noticed rising demand from the brand new Brezza, S Cross, XL6 and the brand new Grand Vitara. These fashions contributed to 30,971 items, which is a 14 p.c enhance in comparison with October 2021. The carmaker is seeing a very sturdy demand for the brand new Grand Vitara and the Brezza.
Gross sales of the Ciaz additionally grew 76 p.c with 1,884 items bought. The Eeco was the one mannequin that noticed a decline with 8,861 items bought, which is down 14 p.c over the identical interval final 12 months.
Hyundai Motor India: 48,001 items – 30 p.c YoY
Hyundai Motor India recorded gross sales of 48,001 items, up 30 p.c (October 2021: 37,021). The Creta midsize SUV and the Venue compact SUV, that are amongst the highest sellers of their respective segments, are additionally huge sellers for the Korean carmaker every month.
Commenting on October numbers, Tarun Garg, director (Gross sales, Advertising and marketing & Service), Hyundai Motor India stated that the bettering semiconductor state of affairs helped them meet the client demand.
For the primary seven months of FY2023, Hyundai’s cumulative gross sales are 3,33,006 items, up 19.13 p.c over 2021’s figures.
Tata Motors: 45,217 items / 33 p.c YoY
In third place and really near Hyundai is Tata Motors with 45,217 items, up 33 p.c (October 2021: 33,925), which is simply 2,784 items behind the Korean carmaker. On the cumulative gross sales entrance, Tata Motors, with 3,17,667 items within the April-October 2022 interval, is 15,339 items behind Hyundai. Clearly, the battle between these two manufacturers is about to accentuate within the coming months as Hyundai tries to guard its turf and Tata tries to usurp the second place.
October 2022 noticed Tata promote 41,146 ICE automobiles and 4,071 EVs. That is the best month-to-month gross sales for Tata Motors’ EV portfolio, which supplies it a robust benefit over its rivals. At current, it has 4 fashions in its line-up – the Nexon EV, Tigor EV, Tiago EV and the fleet-only XPres-T EV. Nonetheless, deliveries of the Tiago EV is about to start in January 2023.
The corporate, which has focused manufacturing and sale of over 5,00,000 automobiles, together with 50,000 EVs, is nicely on observe in the direction of reaching its purpose. At end-October, it’s 1,82,333 items away from that focus on – Tata is averaging month-to-month gross sales of 45,381 items, which implies the half-a-million items purpose is feasible.
Mahindra & Mahindra: 32,298 items / 60 p.c YoY
With the ever rising demand for SUVs, it’s not stunning that Mahindra & Mahindra (M&M) has notched a 60 p.c progress over final October with gross sales of its Utility Autos (UV). Final month’s whole gross sales stood at 32,298 items, which is an extra 12,168 items over October 2021’s 20,130 items. They comprised 32,226 UVs (up 61 p.c, October 2021: 20,034) with the e-Verito including one other 72 items.
The carmaker’s October 2022 numbers are its second-best month-to-month gross sales this fiscal, each total in addition to for UVs (September 2022: 34,508 items, together with 34,262 UVs).
Mahindra’s bestselling merchandise at current are the flagship XUV700, Scorpio – each in its N and Traditional avatars – the XUV300, Bolero and Bolero Neo. With improved provides of semiconductors and M&M judiciously managing its manufacturing operations, it’s anticipated that the ready intervals for many of its high promoting SUVs will come down.
Seven months into the fiscal, M&M has bought a complete of 1,99,278 UVs, which makes for a exceptional 78 p.c progress (April-October 2021: 1,12,050 items). This whole is already 89 p.c of the corporate’s whole gross sales of two,23,682 UVs in FY2022 (April 2021-March 2022), which had been its best-ever UV gross sales.
With a big reserving order, M&M may very well be reaching the three,50,000 UV gross sales mark for the primary time in FY2023.
Kia India: 23,323 items / 43 p.c YoY
Kia bought a complete of 23,323 items in October 2022, registering a 43 p.c progress (October 2021: 16,331). The gross sales had been led by its bestselling SUV, the Seltos (9,777), adopted by the Sonet compact SUV (7,614), Carens MPV (5,479), Carnival premium MPV (301) and the electrical EV6 crossover (152).
Cumulative gross sales for Kia within the April-October interval are 1,55,285 items, which is a robust 48 p.c enhance over final 12 months’s gross sales of 1,04,714 items. These comprise 59,817 Seltos’, 52,716 items of the Sonet, 40,509 items of the Carens, 2,075 Carnivals and 168 EV6s. For the primary 9 months of the 12 months, Kia has crossed the two,00,000 gross sales mark with a complete of two,15,347 items.
Toyota Kirloskar Motor (TKM): 13,143 items / 6 p.c YoY
Toyota is the final participant on this listing with 5 determine gross sales in October – 13,143 items. It is a six p.c enhance over October 2021’s 12,440 items. Based on Atul Sood, affiliate vice-president, Gross sales, and Strategic Advertising and marketing, TKM, the demand is pushed by the City Cruiser Hyryder. He stated that even the carmaker’s higher-end fashions just like the Fortuner Legender, Camry and Vellfire proceed to get good orders. He additionally added that the Glanza can also be persistently performing nicely because the facelift’s launch in April.
Honda Automobiles India: 9,543 items / 18 p.c YoY
Honda registered whole gross sales of 9,543 items registering an 18 p.c progress over final 12 months. Their entry degree mannequin – the Amaze compact sedan – was the carmaker’s bestselling mannequin final month.
MG Motor India: 4,367 items / 53 p.c YoY
MG Motor India reported retail gross sales of 4,367 items, a progress of 53 p.c, which comes on the again of the corporate reaching its highest manufacturing output of 5,008 items, together with 1,000 items of its MG ZS EV, additionally an all-time excessive for the carmaker.
Volkswagen India: 3,510 items / 14 p.c YoY
Volkswagen India benefitted from the introduction of the Virtus sedan and Taigun SUV, and bought 3,510 items to submit a progress of 14 p.c over the identical interval final 12 months.
Skoda India: 3,389 items / 11 p.c YoY
Like Volkswagen, Skoda’s gross sales in India had been additionally pushed by its sedan and SUV pair – the Slavia and Kushaq. The carmaker bought 3,389 items registering a progress of 11 p.c over final 12 months.
Citroen: 1,195 items / 1,176 p.c YoY
French carmaker Citroen registered a robust 1,176 p.c progress in comparison with final 12 months by promoting 1,195 items. The demand was pushed by the C3 – the carmaker’s first mass market mannequin for India.
Progress outlook: SUV-charged automobile gross sales in pedal-to-metal mode
October 2022’s sturdy gross sales can solely spell excellent news for Indian carmakers as the general business’s advantages percolate to a number of ancillary sectors. Regardless of inflationary tendencies, the automobile market is shining as a beacon of hope for the Indian auto business, which has weathered a few troublesome years with progress being stunted by the pandemic-induced lack of gross sales.
Now, with improved provides of semiconductors, automobile producers ensured that showrooms had been nicely stocked in October, notably with standard fashions, whilst vehicle sellers provided good-value offers in a market thronging with new fashions and scores of variants, bought at a number of price-points.
The surging demand for SUVs, which now account for practically one out of each two automobiles bought in India, is mirrored within the new cost within the PV market. All manufacturers, with a robust and recent SUV product portfolio are firing on all cylinders. Whereas the compact SUV section stays excessive on the buyer radar, the rising demand for midsize SUVs is clear. In the meantime, there’s additionally a sensible uptick for some sedans. With the automobile business having cumulative pending orders of round 7,50,000 items on the finish of October 2022, anticipate the remaining 5 months of FY2023 to be excessive on numbers.