Car sales in July 2023 saw a YoY and MoM growth and set to improve even further with new launches and the upcoming festive season
With the monsoons equitably distributed across the country and a more positive mindset among buyers in India, car sales in July 2023 saw a YoY growth of 3.2 percent. Sales stood at 3,51,908 units in the past month, up from 3,41,021 units sold in July 2022. It was an even greater MoM growth of 7.4 percent from 3,27,544 units sold in June 2023.
Car Sales July 2023
Maruti Suzuki led the sales list with 1,52,126 units sold last month. This was a 6.5 percent YoY growth over 1,42,850 units sold in July 2023. MoM sales growth was at 14.4 percent from 1,33,027 units sold in June 2023. This was the only automaker to see sales cross the 1 lakh unit mark. The company currently commands a 43.23 percent market share, up from 41.89 percent held in July 2022 and also an increase over 40.44 percent share held in June 2023.
At No. 2 was Hyundai with 50,701 units sold in July 2023. This was a 0.4 percent YoY growth from 50,500 units sold in July 2022. MoM sales improved by 1.4 percent from 50,001 units sold in June 2023. Hyundai’s market share is at 14.41 percent falling 0.4 percent YoY from 14.8 percent held in July 2022.
Tata Motors sales in July 2023 improved marginally by 0.3 percent to 47,630 units, up from 47,506 units sold in July 2022. MoM sales were also up slightly over 47,240 units sold in June 2023. With a current market share of 13.5 percent, the company gears up to introduce the new Nexon, Harrier and Safari in the Indian market.
Mahindra has noted a significant growth in sales which improved 30.4 percent YoY to 36,205 units in July 2023 up from 27,771 units sold in July 2022. It was also an 11.1 percent MoM growth from 32,585 units sold in June 2023. Market share improved 2.1 percent YoY to 10.3 percent from an earlier 8.1 percent. It was Mahindra XUV700, Scorpio/N and Bolero that spurred up sales marking highest ever SUV sales in a month.
At No. 5 was Toyota Kirloskar Motors with 20,759 units sold in the past month, a 5.4 percent YoY and 13.8 percent MoM growth. Sales had stood at 19,693 units and 18,237 units in July 2022 and June 2023 respectively. These were also the company’s best ever sales in a month with Innova Hycross, Innova Crysta, Hyryder and Fortuner being in high demand.
Maruti posts highest market share growth in July 2023
Kia Motor India sales dipped 9.2 percent YoY to 20,002 units in July 2023 from 22,002 units sold in July 2022 though growth was seen on MoM basis from 19,391 units sold in June 2023. Kia Seltos facelift deliveries are currently underway and the waiting period has already hit 4 months.
Sales of MG Motor improved by 24.9 percent YoY to 5,012 units from 4,013 units sold in July 2022. MoM sales however dipped 2.2 percent from 5,125 units sold in June 2023. The company currently commands a 1.4 percent market share, up from 1.2 percent held in July 2022.
Honda sales dipped 28.3 percent to 4,864 units in July 2023 while Skoda Auto also suffered a YoY de-growth by 5.4 percent to 4,207 units. Volkswagen sales improved 30.8 percent to 3,814 units in July 2023 from 2,915 units sold in July 2022 while MoM growth was at 1.1 percent from 3,394 units sold in June 2023. Lower down the list Renault (3,607 units), Nissan (2,152 units), Jeep (441 units) and Citroen (388 units) each posted YoY and MoM de-growth.
