Passenger vehicle sales grew on a YoY basis with surging demand seen for both SUVs and MPVs thanks to several new launches in this category
Federation of Automobile Dealers Associations (FADA) has released Vehicle Retail Data for July 2023. YoY growth can be seen across all segments, while PV, tractor and CV sales declined MoM. Total auto sales in the past month improved by 10 percent YoY though MoM sales dipped. There were a total of 17,70,181 units sold in July 2023, up 10 percent from 16,09,217 units sold in July 2022. MoM sales fell by 5.03 percent from 18,63,868 units sold in June 2023.
Car Retail Sales July 2023
The passenger vehicle segment saw a host of new launches. Supplies of spares to OEMs also improved significantly and orders piled in. Passenger sales in July 2023 improved by 4.03 percent YoY to 2,84,064 units, up from 2,73,055 units sold in June 2023. Maruti Suzuki led the segment with 1,17,571 units sold in the past month. This was YoY growth over 1,06,683 units sold in July 2022 relating to a volume growth of 10,882 units. Market share of the company also improved YoY to 41.39 percent from 39.07 percent held in July 2022.
At No. 2 was Hyundai Motor India with YoY degrowth down to 40,945 units in July 2023 from 43,499 units sold in July 2022. Market share dipped to 14.41 percent from 15.93 percent YoY. Next up was Tata Motors with sales close to that of Hyundai Motor at 39,033 units. This YoY growth was over 36,852 units sold in July 2022.
Mahindra sales grew to 28,778 units in July 2023 from 21,198 units sold in July 2022 taking up market share to 10.13 percent from 7.76 percent YoY. While Toyota sales improved YoY to 15,357 units in July 2023 from 13,275 units sold in July 2022 that of Kia Motors fell to 14,338 units in the past month. Kia Motors sales stood at 18,127 units in July 2022.
The list also had Skoda (6,986 units), Honda Cars (4,330 units), MG Motor (4,221 units), Renault (3,873 units) and Nissan ((1,951 units). Of these, it was only Skoda and MG Motor that posted YoY growth while Honda, Renault and Nissan have reported YoY degrowth. PCA Automobiles (Citroen) saw a significant rise in YoY sales to 657 units from just 52 units sold in July 2022. Force Motors sales improved to 594 units from 358 units on a YoY basis. Fiat (Jeep) India sales were down by over 50 percent to 502 units in July 2023 from 1,175 units sold in July 2022.
Luxury PV Sales July 2023
In the luxury segment, BMW India topped the list with 1,097 units sold in the last month. This was a growth of 932 units sold in July 2022. Market share went up to 0.39 percent from 0.34 percent YoY. Sales of Mercedes Benz dipped to 1,019 units in July 2023 from 1,067 units sold in July 2022.
Jaguar sales improved to 244 units in the past month from 181 units sold in July 2022 while Volvo Auto sales stood at 123 units in July 2023 from 114 units sold in July 2022. Porsche was another luxury automaker to post a YoY de-growth in July 2023 with sales dipping to 45 units from 52 units sold in July 2022.
Lower down the list was also BYD with 111 units sold last month from 44 units sold in July 2022 while Isuzu sales improved marginally to 59 units in July 2023 from 53 units sold in July 2022. There were others in this PV segment that added 2,230 units to total sales in July 2023 down YoY from 5,204 units sold in July 2022.
