Diabytes
Auto Sales News
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November sees a 4% YoY surge in domestic passenger vehicle wholesales, reaching a peak, led by strong demand, especially for utility vehicles.
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Mahindra received a strong response from buyers during the festive season with sales of 39,981 utility vehicles, helping it post a 32 per cent YoY growth in November 2023.
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The first half of October 2023, marked by the Shraddh period when people largely stay away from big-ticket purchases, saw an 8 per cent YoY decline in vehicle sales.
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The sales of the Indian automaker increased in October credit to models like Baleno, Brezza, Grand Vitara, Celerio, Dzire, Ignis, Swift, Tour S, WagonR and others.
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Hyundai Motor India's sales saw an uptick of 15 percent to 55,128 units last month from 48,001 units the same month a year ago, with exports increasing by 36 percent year-on-year to 13,600 units.
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As the festive season is fast approaching, the automotive demand has seen a massive surge of nearly 20 per cent in the month of September.
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Rising numbers of high net-worth individuals, millennials, high levels of disposable incomes, well-travelled consumers coupled with stable economic growth are fuelling luxury car growth in India.
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The SUV market is projected to grow from USD 885.8 billion in 2023 to USD 1,221.7 billion in 2027, at a CAGR of 6.6%.
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The surge in EV adoption in India is driven by the introduction of new affordable models, including electric cars like the MG Comet EV among others.
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The overall industry sales last fiscal rose to 38.89 lakh units, an increase of 27 percent from 30.69 lakh units in 2021-22, as per PTI's report.
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The company noted that it was able to stride ahead from 40 lakh cars to 50 lakh units within three years, despite COVID-19 and the semiconductor shortage crisis that plagued the global automotive industry.
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Within two-wheelers, domestic retailers/wholesalers have recovered with about 16 percent/over 20 percent yoy growth, partly supported by the low base, reports IANS.
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Maruti Suzuki India sold a total of 1,39,347 units in December 2022 compared to which the Indian automaker sold 1,53,149 cars units in December 2021 showing decline in sales, reports PTI.
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Automakers recorded the best-ever November sales, with the brands like Maruti Suzuki India, Hyundai, Tata Motors, and Mahindra leading the sales, followed by others like Kia and Honda, reports PTI.
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Sales of utility vehicles in Mahindra increased by 56 percent to 30,238 units from 19,384 units in the same month last year, including sales of 154 units of cars and vans, reports PTI.
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Maruti Suzuki's most prominent models sold in India were Swift, Celerio, Ignis, Baleno, and Dzire, while the sales of the utility section were spearheaded by Vitara Brezza and others, reports PTI.
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Tata Motors has registered overall sales growth of 21 percent in year-on-year sales growth, with the most growth in the sales of electric vehicles showing 146 percent growth in YoY sales.
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The sales of 3W are shifting from ICE to EV
This could be the best year for auto sales
2W companies raised prices by 5 times in the past year
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Tata Motors reported YoY sales growth
Tata Nexon and Punch led the sales numbers
In August 2022 Tata Motors sold over 43k units
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Maruti Suzuki India's total domestic passenger vehicle sales stood at 1,48,380 units
Tata Motors attained its highest ever monthly sales of 47,654 last month
Skoda Auto India said its sales increased by 17 percent
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