Passenger Vehicle segment performed well with a YoY growth of 22 percent, a 10 percent growth over retails sales in Jan 2021
In the earlier post, we discussed the wholesales data for Jan 2023 cars. In this post, we will take a look at the retail sales, as has been announced by The Federation of Automobile Dealers Associations (FADA). On a YoY basis, 2 wheeler sales improved by 10 percent while 3 wheeler retail sales grew by 59 percent. PV sales were higher by 22 percent while tractor and CV retail sales increased 8 percent and 16 percent respectively.
Passenger vehicle retail sales increased 22 percent YoY. The segment continues to face some supply constraints which has led to longer waiting periods for some of its leading models. Recent announcements made in the Union Budget 2023 will bring some relief to buyers, thereby relating to higher sales in the months ahead. Total PV retail sales in the past month stood at 3,40,220 units. This was against 2,79,050 units sold in Jan 2022, a YoY increase of 21.92 percent.
Car Retail Sales Jan 2023 – Maruti, Hyundai Lead
Maruti Suzuki scaled over every other OEM by a significant margin. Sales stood at 1,50,046 units in Jan 2023, up from 1,28,350 units sold in Jan 2022. Market share however dipped to 44.10 percent from 46 percent held in Jan 2022. Top sellers in the company lineup continued to be the Alto, WagonR, Swift, Baleno, Brezza, etc. New entrants such as the Jimny 5-door and Fronx SUV are set to bring in even better sales in the months ahead.
At No. 2 was Hyundai with sales of 45,799 units in Jan 2023, up from 37,946 units sold in Jan 2022. Market share dipped marginally to 13.46 percent from 13.60 percent YoY. Hyundai Verna new-gen model will be making its entry later this year.
Tata Motors retail sales improved to 45,061 units in Jan 2023 from 34,568 units sold in Jan 2022. Nexon continues to be the company’s best-selling model. Tata Motors showed off CNG variants of the Punch and Altroz at the 2023 Auto Expo along with the new Altroz Racer, Harrier / Safari Red Dark Editions. All are planned for launch in 2023.
Posting retail sales at 33,706 units in Jan 2023, Mahindra has seen significant YoY growth, over 19,838 units sold in Jan 2022. This brought market share up to 9.91 percent from 7.11 percent held in Jan 2022. Kia India also noted a hefty growth in YoY retail sales to 19,297 units in Jan 2023 from 9,824 units sold in Jan 2022. Market share improved to 5.67 percent from 3.52 percent YoY.
Retail sales of Toyota Kirloskar Motors dipped on a YoY basis in Jan 2023. The company had sold 11,351 units in Jan 2022 which fell to 10,941 units in the past month. In Jan 2023, Toyota had reopened bookings for the Hilux and new Innova Crysta while CNG variants of the Hyryder were also introduced.
Skoda VW retail sales improved to 8,650 units in the past month from 5,832 units sold in Jan 2022 while retail sales of Honda Cars dipped to 7,408 units. Renault sales also fell to 7,296 units in Jan 2023 from 7,700 units sold in Jan 2022 along with MG that saw retail sales at 3,279 units from 3,340 units sold in the same month of the previous year. Nissan India was yet another automaker to report lower retail sales in Jan 2023 down to 2,849 units from 3,359 units sold in Jan 2022.
Luxury car retail sales Jan 2023
In the luxury segment, Mercedes Benz sales improved to 1,248 units in Jan 2023 up from 1,033 units sold in Jan 2022. BMW sales dipped to 890 units in Jan 2023. Jaguar Land Rover and Volvo Auto also reported increased retail sales to 206 units and 179 units respectively in Jan 2023 from 148 units and 144 units sold in Jan 2022. Porsche (65 units), Lamborghini (3 units), Bentley (8 units) and Rolls Royce which failed to report any sales in the past month.
PCA Automobiles also saw significant growth to 893 units sold last month from 55 units sold in Jan 2022. Jeep India sales declined marginally to 841 units. Force Motors sales grew to 563 units last month from 220 units sold in Jan 2022. Isuzu Motors sold 77 units in Jan 2023. There were also others on this list contributing 915 units to retail sales, down from 5,814 units sold in Jan 2022.