The passenger vehicle segment bounced back to positive YoY growth in May 2023 after a 1.35 percent de-growth reported in April 2023
Federation of Automobile Dealers Associations (FADA) has released retail sales data for May 2023 wherein growth has been recorded across all vehicle segments. The 2W segment improved by 9 percent, 3W by 79 percent and PVs by 4 percent. Tractors and commercial vehicles also saw a 10 percent and 7 percent YoY growth respectively.
Here we talk exclusively of passenger vehicles, retail sales of which surged to 2,98,873 units in May 2023, up 4.31 percent from 2,86,523 units sold in May 2022. This was a 12,350 unit volume growth. When compared to sales in April 2023, MoM retail sales improved from 2,82,674 units sold during the said month.
Car Retail Sales May 2023
The passenger vehicle segment saw a rebound in May 2023 backed by a series of new launches, backlog orders being completed and sustained demand for SUVs and MPVs. Maruti Suzuki topped the list despite a YoY de-growth with 1,18,500 units sold last month, down from 1,19,315 units sold in May 2022. Market share of the company dipped to 39.65 percent from 41.64 percent. It was the only automaker to cross the 50,000 unit mark in terms of retail sales.
Hyundai was at No. 2 with retail sales at 45,297 units in May 2023. This was a growth of 3,590 units over 41,707 units sold in May 2022. Market share also improved from 14.56 percent held in May 2022 to 15.16 percent in the past month. The new Hyundai Verna, launched in March 2023, brought in good numbers while sales are set to increase once Hyundai Exter SUV is launched in July 2023.
A YoY growth in retail sales was also reported by Tata Motors to 41,824 units up from 35,762 units sold in May 2022. Tata Motors saw increased demand for its electric lineup and now plans to launch a series of new CNG and electric cars to sustain growth.
Mahindra retail sales improved to 32,628 units in May 2023, up from 21,459 units sold in the same month last year. This was volume growth of 11,169 units. Mahindra Scorpio, Bolero and XUV700 lead the sales tally. Each of these models continue to command a long waiting period extending from 6-18 months demanding on model and variant.
Kia India retail sales declined to 16,819 units from 17,355 units sold in May 2022. Lower down the order was Toyota with 14,617 units sold last month, up from 12,107 units sold in May 2022. Skoda sales also fell YoY to 6,553 units from 7,657 units sold in May 2022 and Honda Cars has also posted a YoY decline in retail sales to 5,079 units.
Renault India was another automaker to report YoY de-growth in retail sales to 4,381 units from 6,806 units sold in May 2022. The list also included MG Motor (4,002 units) and Nissan (2,270 units), both of which have seen a YoY improvement in retail sales.
Luxury Car Retail Sales May 2023
In the luxury car segment, Mercedes Benz sales grew to 1,146 units in the past month from 1,062 units sold in May 2022. In May 2023, the company also introduced the 2023 Mercedes-Benz A-Class Limousine priced from Rs 45.8.
BMW India retail sales improved by 131 units to 916 units in May 2023 from 785 units sold in May 2022. Jaguar sales improved to 296 units last month from 132 units sold in May 2022 and Volvo Auto also saw its sales increase to 147 units from 123 units in the corresponding months.
PCA Automobile (Citroen) sales grew significantly to 830 units in the past month from just 36 unit retail sales in May 2022. Jeep sales dipped to 629 units in May 2023 from 922 units sold in May 2022 while Force Motors has reported a YoY growth in retail sales to 506 units from 330 units sold in May 2022. There was also BYD (138 units), Isuzu Motors (90 units) and Porsche (48 units) each posting YoY growth in retail sales while there were other OEMs that contributed 2,156 units to total retail sales in May 2023 from 7,956 units sold in May 2022.
