Monthly passenger vehicle (PV) sales hit a record-high in August, thanks to growth drivers including the onset of festive season, introduction of new models in the fast-growing SUV segment, robust economic growth and an uptick in production levels due to better semiconductor availability.
According to industry estimates, about 3,60,897 units were sold in the domestic market during August 2023, which was 9.7 percent more than the 3,26,980 units sold in the same month last year.
The previous highest monthly PV sales were 3,55,400 units in September 2022. Furthermore, 1.7 million units have been sold from April to August 2023.
Maruti Suzuki India on September 1 reported its highest-ever monthly wholesales at 1,89,082 units in August. The auto major's dispatches to dealers last month were 14 percent higher as compared to 1,65,173 units in August 2022. Maruti Suzuki's domestic passenger vehicle sales were at 1,56,114 units as against 1,34,166 units in the year-ago month, a growth of 16.4 percent.
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“We grew three times that of competition. As a result, our market share also went up from 40.8 percent to 43.5 percent (on a year-on-year basis). We also had the highest market share in the SUV segment, Shashank Srivastava, Senior Executive Director-Sales and Marketing, MSIL, said.
Hyundai Motor India said its wholesales increased by 15 percent YoY to 71,435 units in August. The South Korean automaker had dispatched 62,210 units to its dealers in August last year. Its domestic sales went up nine percent to 53,830 units last month, from 49, 510 units in the year-ago period, the company said in a statement.
“The festival season in India has kicked off on a positive note with strong Onam sales in Kerala market and this is an indication of the festive fervour in other parts of the country in the coming months. Demand for SUVs in our portfolio remains robust, contributing more than 60 percent to our domestic sales in August. EXTER continues to excite customers, with more than 65,000 bookings already received by HMIL so far,” Tarun Garg, COO, Hyundai Motor India, noted.
Mahindra & Mahindra (M&M) announced that its overall auto sales for August 2023 stood at 70,350 vehicles, a growth of 19 percent. In the Utility Vehicles (UV) segment, Mahindra sold its highest number of SUVs at 37,270 vehicles in the domestic market last month, and overall 38,164 vehicles, including exports. The domestic sales of its commercial vehicles stood at 23,613 units.
Veejay Nakra, President, Automotive Division, M&M Ltd, said, “While demand for our key SUV brands continues to be strong, we are keeping a close watch on the availability of semiconductors and select parts, for sustained and smooth scale-up.”
Tata Motors, however, reported a marginal decline in total global sales at 78,010 units in August. The Mumbai-based automaker had posted total global sales of 78,843 units in August 2022.
Total domestic sales were also marginally lower at 76,261 units as against 76,479 units in the year-ago month, Tata Motors said in a regulatory filing. The sales of its passenger vehicles, including electric vehicles, in the domestic market were down 3.5 per cent at 45,513 units last month as against 47,166 units in August 2022, it added.
Toyota Kirloskar Motor (TKM) on Friday reported overall sales of 22,910 units in August, up by 53 percent vis-a-vis 14,959 units sold in August 2022. While domestic sales stood at 20,970 units, the company exported 1,940 units in August, TKM said in a statement.
“Strong sales volume and enhanced demand showcase customers’ ever-growing affinity for the brand,” Atul Sood, Vice President of Sales, and Strategic Marketing at TKM, said, adding, “ Encouraged by the overwhelming response to our entire portfolio, we are constantly working on expanding our product portfolio to offer customers wider choices.”
MG Motor India reported a 9 percent YoY increase in retail sales at 4,185 units last month over 3,823 units sold in August 2022. The vehicle maker is gearing up to build on the current momentum in the festive season, MG Motor India said in a statement. The company is readying the launch of the Black Edition of its mid-sized SUV Astor, it added.
Honda Cars India reported a 1 percent increase in sales in the domestic market at 7,880 units last month against 7,769 units in August last year.
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