The Indian passenger car industry exited CY2022 with very strong momentum, surpassing 3.8 million units, a year-on-year growth of 24%. Currently, the top 6 players with record annual revenue last year are maintaining their CY2023 ‘run rate’.
Maruti Suzuki, Hyundai Motor India, Tata Motors, Mahindra & Mahindra, Kia India and Toyota Kirloska Motor together account for 90% of the total PV market.
What this 6-pack has in common is that it includes popular SUVs in its product range. Given the sustained and burgeoning demand for this vehicle category, doing well in the market is imperative. Let’s see how each fares in January 2023.
Maruti Suzuki India – 147,348 units, an increase of 14%
After ending CY2022 with the lowest monthly sales of 112,010 units in December 2022, Maruti Suzuki India made a smart recovery to 147,348 units in January 2023. -Best monthly performance in the current fiscal year, following September 2022’s 148,380 units.
The passenger car market leader was supported by a 37% increase in demand for its entry-level cars Alto and Espresso, to 25,446 units. Both models have seen increased customer interest after the company launched his CNG version of his S-Presso in October 2022 and the third-generation Alto K10 in November.
Maruti Suzuki’s six-pack, comprising Baleno, Celerio, Giele (and Tour S), Ignis, Swift and Wagon R, increased sales by 3% to a total of 73,840 units (January 2022: 71,472 units). On the other hand, sales of premium Ciaz sedans continued to decline to 1,000 units. 40% decrease in units (January 2022: 1,666 units)
UV’s new Brezza, Ertiga, XL6 and new Grand Vitara delivered 35,353 units, up 33% from 26,624 units in the same period last year. Maruti Suzuki has seen strong demand for the new Grand Vitara (now also available in his CNG variant) and the new Brezza. Eeco van cl growth of 11,709 units: 10,581 units, up 15% from the previous year’s wholesale volume of 9,165 units.
Currently, the company is known to have an order backlog of about 350,000 PV. Insufficient supply of chips has intermittently limited production over the past two months. Taking advantage of market demand will require rapid deployment of vehicles, especially given the tough competition in the UV market.
Hyundai Motor India – 50,106 units, 14%
Hyundai Motor India, which recorded similar growth to the PV market leader, reported domestic market sales of 50,106 units (January 2022: 44,022 units). This is his second example of surpassing his 50,000 sales this year, following his 50,500 (50,500) in July 2022.
Tarun Garg, Chief Operating Officer, Hyundai Motor India said: The recent launch of the Hyundai Ioniq 5 has generated customer excitement and recorded excellent bookings, reinforcing our commitment to bring the benchmark EV to the Indian market. ”
The company said its SUVs Creta, Venue, Tucson, Alcazar and Kona Electric continue to maintain sales momentum in their segments. This five-car lot of his SUVs sold a total of 27,532 units in January, accounting for 55% of his total PV sales.
Tata Motors – 47,987 units, an increase of 18%
Tata Motors achieved its best calendar year sales in 2022 with 50% year-on-year growth of 526,798 units and continues to accelerate in 2023. The automaker announced his 47,987 sales figures for January 2023. 18% including an estimated 3,831 EVs (Jan 2022: 40,777). This is the best monthly market performance ever and surpasses his record of 47,654 units in the festive month of September 2022.
The company, which sells seven PVs (Altroz, Tigor, Tiago, Nexon, Punch, Harrier and Safari) in the domestic market, is capitalizing on the surge in demand for its current best-selling SUVs, especially the Nexon and Punch. . The 4th largest SUV in the Indian market.
Also contributing to Tata Motors’ rapid growth is its first-mover advantage in the fast-growing electric vehicle market, with over 80% market share. The company currently sells Nexon EV, Tigor EV and Xpres-T (for fleet buyers) and recently he also launched his Tiago EV for under Rs 10 lakh. Tata Motors, which has an order book of 20,000 electric hatchbacks, has started deliveries of electric hatchbacks priced under Rs 100,000 this month. Considering additional sales from new vehicles, Tata Motors could surpass 50,000 monthly sales for the first time in his February. We are on track to sell 500,000 units in FY2023.
Mahindra & Mahindra – 33,040 units, an increase of 65%
Mahindra & Mahindra reported 33,040 wholesales in January 2023, up 65% from 19,964 the year before. This is “despite the disruption to the supply chain for crash sensors and airbag ECUs due to the availability of semiconductors,” the company said.
M&M Automotive Division President Veejay Nakra said: We will continue to monitor the dynamic supply chain situation closely. ”
Kia in India – 28,634 units, an increase of 48%
Kia India posted a record annual sales volume of 254,556 units in CY2022, up 40% year-on-year, and continues to perform well in CY2023. The South Korean automaker said in January 2023 he had a record domestic monthly sales of 28,634 units. This is a 48% increase over the January 2022 figures. The company’s previous monthly record was 25,857 in September 2022.
Kia India’s top two models, the Seltos and the Sonet, led the company’s performance in January 2023 with sales of 10,470 and 9,261 units respectively. Both SUVs are among the top-selling utility models in India, ranking 7th and 9th respectively on the Top 25 UV list for 2022.
Launched on February 15, 2022, the Carens MPV hit a record monthly sales of 7,900 units and cumulative sales of 70,656 units in less than a year. Carnival MPV sold 1,003 units last month.
Toyota Kirloskar Motor – 12,835 units, an increase of 175%
At 12,835 units, Toyota Kirloskar Motor posted triple-digit growth of 175% against 7,328 units in January 2022 and 23% month-over-month growth against 10,421 units in December 2022. Last month, the company opened pre-orders for the Hilux and Toyota Innova his Crysta, and also announced pricing for his CNG version of his high-rider urban cruiser, which is in strong demand.
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