With around 3.28 lakh cars sold in India in June 2023, it was a YoY growth while MoM sales dipped marginally in June 2023
Easing in supplies of semiconductors has led to quicker deliveries. Waiting periods have been considerably reduced and stock at dealerships are on the increase. This has caused a YoY growth in car sales by 2.51 percent in June 2023.
Car sales continued to score above the 3 lakh unit mark with 3,28,909 units sold in June 2023. This YoY growth was over 3,20,846 units sold in June 2022. However, MoM sales dipped marginally by 1.97 percent from 3,35,531 units sold in May 2023. Maruti, Hyundai and Tata Motors commanded the top three positions on this list, each posting increased YoY growth while Mahindra and Toyota also posted increased sales on a YoY basis but dipped in terms of MoM sales.
Car Sales and Market Share June 2023
Maruti Suzuki was once again a leader in this list with 1,33,027 units sold in June 2023. This was an 8.43 percent YoY growth from 1,22,685 units sold in June 2022 relating to a 10,342 unit volume growth. MoM sales however fell by 7.43 percent when compared to 1,43,708 units sold in May 2023. Maruti’s market share currently stands at 40.44 percent, a 2.21 percent improvement over 38.24 percent share held in June 2022 but down from 42.83 percent that the company commanded in May 2023.
At No. 2 was Hyundai Motor India with a 15.20 percent market share and sales at 50,001 units in June 2023. This was a 2.04 percent YoY growth from 49,001 units sold in June 2022 while MoM sales also improved by 2.88 percent over 48,601 units sold in May 2023. The upcoming Exter sub-4 meter SUV, set for launch on 10th July is now opened for bookings.
Tata Motors has also posted a YoY and MoM improvement both in sales and market share in June 2023. Sales in the past month stood at 47,235 units, up 4.51 percent from 45,197 units sold in June 2022 and up 2.96 percent from 45,878 units sold in May 2023. Market share currently stands at 14.36 percent. The Nexon electric was among its high demand models which has recently achieved a milestone of 50,000 unit sales in 3 years of launch.
Mahindra sales improved YoY by 21.24 percent to 32,588 units in June 2023, up from 26,880 units sold in June 2022. MoM sales saw a marginal decline by 0.91 percent from 32,886 units sold in May 2023. Market share currently stands at 9.91 percent, up 1.53 percent from 8.38 percent held in June 2022 while share in May 2023 had been at 9.80 percent Toyota at No. 5 witnessed a YoY growth of 18.75 percent to 19,608 units sold in June 2023, up from 16,512 units sold in June 2022 to command a market share of 5.96 percent. Sales on a MoM basis however, dipped 3.93 percent from 20,410 units sold in May 2023.
Kia, Renault Post YoY Degrowth
Lower down the list was Kia Motor (19,391 units) and Renault (5,450 units), both of which have seen sales de-growth on a YoY basis. However, performance in terms of MoM sales were more positive with Kia and Renault posting 3.33 percent and 17.84 percent MoM growth. MG Motor (retail) sales improved YoY by 13.72 percent and MoM by 2.30 percent to 5,121 units in June 2023. MG Motors currently commands a 1.56 percent market share, which has increased from 1.40 percent held in June 2022 and from 1.49 percent held in May 2023.
The list also included Honda (5,080 units) and Skoda (3,966 units), both of which have posted YoY de-growth, though MoM sales improved. Volkswagen had 3,394 units sold last month to command a 1.03 percent market share while Nissan sales dipped 27.40 percent to 2,552 units. Citroen has seen outstanding growth with the new Citroen C3 Aircross Compact SUV that helped to take sales up 1202.60 percent YoY to 1,003 units from 77 units sold in June 2022. MoM sales also improved by 24.44 percent from 806 units sold in May 2023. Jeep sales dipped YoY and MoM to 493 units to command a 0.15 percent market share.
