While Volkswagen recorded the highest YoY growth (525 percent), Fiat registered the highest MoM growth (180 percent)
Passenger vehicle sales in India have shown appreciable growth in the past few months with businesses slowly gaining fast track after a long lull due to the Covid-19 pandemic. Latest figures show that sales volume of passenger cars in India has surpassed pre-Covid monthly sales of February 2020.
Last month, OEMs registered cumulative sales of 3,08,611 units of passenger cars against the previous month’s 3,03,904 units. The Indian automotive industry sold 2,56,645 units in February last year. This translated to MoM and YoY growths of 1.55 percent and 20.25 percent respectively.
Maruti, Hyundai, Tata Lead Charts
As usual, the biggest contributor to this list was Maruti Suzuki with a recorded sales volume of 1,44,761. The largest carmaker in India sold 1,39,002 units in January this year and 1,33,702 units in February last year. The company recorded MoM and YoY growths of 4 percent and 8 percent and captured a 46.9 percent share of the Indian market.
Maruti was followed by South Korean giant Hyundai with 51,600 cars dispatched to dealerships across India. While it accounted for a decline in MoM sales by 1 percent, it registered a YoY growth of 29 percent. It currently holds 16.7 percent of the market share in India.
Tata Motors took the third spot as it registered a sales volume of 27,224 units. The homegrown automaker has shown tremendous growth in the recent few months to become the third-largest car manufacturer in India with a market share of 8.8 percent.
Kia, Mahindra Post Monthly Decline
While the Pune-based manufacturer managed a meager MoM growth of 1 percent, it recorded an impressive 119 percent of YoY growth. The fourth spot was taken by Hyundai’s sister brand Kia with sales of 16,702 cars in February 2021. The company witnessed a fall in MoM sales of 12 percent and an increase in YoY sales by 7 percent.
Mahindra, despite huge impending orders of Thar, was only able to deliver 15,380 cars last month, therefore recording an MoM degrowth of 25 percent. It although showed a YoY growth of 43 percent.
February 2021 was a very good month for Toyota as the Japanese carmaker recorded its highest monthly sales in two and a half years. This was mainly due to the recent launch of the facelifted premium SUV- Fortuner. The company dispatched 14,069 units to dealerships thus witnessing MoM and YoY growth of 26 percent and 36 percent respectively and a market share of 4.6 percent.
Renault (11,043 units) and Honda (9,324 units) took the seventh and eighth spots respectively. While the French brand recorded an MoM growth of 35 percent, the Japanese carmaker registered an MoM degrowth of 18 percent. Both automakers registered positive YoY growths of 26 percent and 28 percent.
Other OEMs on the list are Ford (5,775 units), Morris Garages (4329 percent), Nissan (4,244 units), Volkswagen (2,186 units), Fiat (1,103 units) and Skoda (853 units). Out of these MG, Nissan and Volkswagen recorded impressive YoY growths of 215 percent, 313 percent and 525 percent respectively.