As per data reported by FADA, YoY growth was seen across 2 and 3 wheeler segment, passenger vehicles and commercial vehicles in March 2023
Financial year 2022-23 ended on a positive note for the entire automobile industry. As per data released by Federation of Automobile Dealers Associations (FADA), total retail sales across all segments stood at 2,21,50,222 units in March 2023, up 20.86 percent as against 1,83,27,326 units sold in March 2022. Year-end discounts offered by various automakers, the festivities during the past month and increased interest rates could have stirred up sales in the last month of the financial year.
Vehicle Retail Sales March 2023 In Green – FADA
The passenger vehicle segment has posted significant YoY growth in retail sales. Sales in the past month stood at 3,35,266 units, a growth of 14.42 percent from 2,93,016 units sold in March 2022. It was also a MoM growth in retail sales as against 2,87,182 units in Feb 2023.
Taking into account retail sales in the PV segment, sales touched 36,20,039 units in FY 2022-23 up 23.04 percent as against 29,42,273 unit retail sales in FY 2021-22. The industry continues to contend with shortage in supply of semiconductors and this is set to go on for some time hampering smooth production and relating to longer waiting periods.
Car Retail Sales March 2023 – Maruti maintains lead
Maruti Suzuki India Limited once again topped sales charts in March 2023. Sales stood at 1,37,201 units in the past month, up from 1,18,446 units sold in March 2022. Market share improved from 40.42 percent to 40.92 percent respectively. Maruti Suzuki is expected to see sales increase even more significantly in the months ahead with the launch of new Fronx compact UV and Jimny.
At No. 2 was Tata Motors, retail sales of which exceeded that of Hyundai Motors (No. 2 in Feb 2023) by 1,144 units. Tata retail sales were at 46,847 units in March 2023 up from 36,939 units sold in March 2022. Market share also improved to 13.9 percent from 12.61 percent YoY. Tata Nexon, the highest selling SUV in the country, is set to receive a facelift later this year and has been spied on test on a number of occasions borrowing several features from the Harrier and Safari.
Hyundai Motor sales improved to 45,703 units YoY from 43,766 units sold in March 2022. However, market share dipped to 13.63 percent from 14.94 percent during the said periods. Retail sales growth was also reported for Mahindra with 32,196 units sold in the past month as compared to 24,014 units sold in March 2022. The company also noted an increase in market share to 9.60 percent from 8.20 percent YoY. Kia Motors sales also saw an increase to 21,023 units in March 2023 from 17,426 units sold in March 2022 while Toyota sales went up to 15,623 units in the past month from 11,195 units sold in March 2022.
Skoda Group sales stood at 7,977 units last month from 7,390 units sold in March 2022 while Honda Cars India has reported a YoY de-growth in retail sales to 6,295 units from 7,655 units sold in March 2022. Renault India also suffered a YoY dip in sales to 5,176 units in the past month from 6,829 units sold in March 2022. Spy shots of the 2024 Duster are doing the rounds with launch in India only set for some time in 2025. MG Motor sales on the other hand improved to 4,665 units in March 2023 from 3,583 units sold in March 2022. Nissan India sales dipped to 2,661 units last month from 3,053 units sold in March 2023.
Luxury car retail sales March 2023
In the luxury segment, it was Mercedes Benz that saw its sales exceed all others in this segment. Sales stood at 1,603 units in the past month from 1,340 units sold in March 2022. BMW sales dipped to 838 units in the past month from 1,034 units sold in March 2022. Volvo sales were at 182 units while that of Jaguar was at 169 units. Porsche sold 67 units last month while Bentley and Lamborghini retail sales were at 4 units and 2 units respectively along with 1 unit from Rolls Royce.
Citroen sales also increased several fold to 974 units in March 2023 from just 34 units sold in March 2022. Fiat India also suffered a YoY de-growth in retail sales down to 795 units in March 2023 from 928 units sold in the same month last year. The list also included Force Motors (724 units), BYD India (281 units) and Isuzu Motors (123 units) each of which posted a YoY growth in retail sales. There were others in the segment recording lower retail sales at 4,136 units, down from 8,714 units sold in March 2022.
