Car sales in Feb 2023 showed off positive growth of 10.41 percent on a YoY basis while MoM growth was in the negative by 3.37 percent
Earlier, we discussed retail sales report of new cars in Feb 2023. Here, we will take a look at the wholesales performance and market share of car makers in India for Feb 2023. Passenger vehicles performed well in the month of Feb 2023 posting a 10.41 percent YoY growth. Sales which had stood at 3,02,729 units in Feb 2022 improved to 3,34,245 units in the past month. Most leading automakers saw YoY growth. However, MoM performance was not as promising. It was a dip of 3.37 percent from 3,45,909 units sold in Jan 2023.
Cars Sales Feb 2023 – Top 5 Have 87.4% Market Share
Maruti Suzuki claimed a top spot once again with 44.12 percent market share. Sales stood at 1,47,467 units in Feb 2023, up 10.09 percent when compared to 1,33,948 units sold in Feb 2022. This was a volume growth of 13,519 units. On a MoM basis, sales improved by a marginal 119 units or 0.08 percent over 1,47,348 units sold in Jan 2023. Maruti sales are set to get a boost with the launch of new Fronx and Jimny 5 door in the coming weeks. Together, these two have already garnered over 30,000 bookings.
At No. 2 was Hyundai with sales of 46,968 units, up 6.62 percent from 44,050 units sold in Feb 2022. MoM sales however, dipped 6.26 percent when compared to 50,106 units sold in Jan 2023. Market share of the company which has been on the downslide. It dipped from 14.55 percent in Feb 2022 to 14.49 percent in Jan 2023 and then down to 14.05 percent in Feb 2023. Hyundai’s top selling model was the Creta, sales of which to date have exceeded the 8.3 lakh unit milestone. The company also gears up for launch of the 6th gen Hyundai Verna on March 21, 2023.
Tata Motors reported a 7.22 percent YoY growth in sales to 42,865 units, up from 39,980 units sold in Feb 2022. MoM sales however, fell 10.67 percent when compared to 47,987 units sold in Jan 2023. Market share also fell from 13.87 percent to 12.82 percent on a MoM basis. It was the Nexon that continues to lead its sales charts.
Mahindra also reported a YoY growth but finished in the red on a MoM basis. Sales were at 30,221 units in Feb 2023, a YoY growth of 9.75 percent from 27,536 units sold in Feb 2022. MoM sales fell by 8.53 percent from 33,040 units sold in Jan 2023. Market share also dipped from 9.55 percent in Jan 2023 to 9.04 percent in the past month.
Bottom 9 Car Makers Market Share 12.6% – Feb 2023
Kia India, is among the fastest-growing automakers in India. Sales stood at 24,600 units in February 2023, up 35.75 percent when compared to 18,121 units sold in Feb 2022. It was however, a dip of 14.09 percent as against 28,634 units sold in Jan 2023 relating to a 4,034 unit volume de-growth. Kia Sonet was its best-selling model followed by Seltos and Carens.
Toyota Kirloskar Motors has seen its sales grow both YoY and MoM taking up its market share from 3.71 percent held in Jan 2023 to 4.57 percent in the past month. Sales increased 74.58 percent from 8,745 units in Feb 2022 to 15,267 units in Feb 2023 relating to a 6,522 unit volume growth. It was also a MoM growth of 18.95 percent from 12,835 units sold in Jan 2023. Sales figures were driven up thanks to the Urban Cruiser Hyryder and Innova HyCross while demand was also seen for the Glanza, Fortuner, and Legender.
Sales of Renault have increased by 0.73 percent on a YoY basis to 6,616 units in Feb 2023 from 6,568 units sold in Feb 2022, but it was a massive 119.95 percent MoM growth when compared to 3,008 units sold in Jan 2023. Market share improved from 0.87 percent to 1.98 percent MoM. In Feb 2023, the company updated each of its models – Kwid, Kiger and Triber to comply with new RDE standards.
YoY and MoM de-growth was reported by Honda by 15.32 percent and 22.18 percent respectively. Sales dipped to 6,086 units in Feb 2023 taking down market share to 1.82 percent. MG (retail sales) dipped to 4,193 units last month from 4,528 units sold in Feb 2022 but were higher by 1.92 percent when compared to 4,114 units sold in Jan 2023. Skoda with 3,418 units sold last month reported a YoY and MoM de-growth. It was followed by Volkswagen with 3,313 units sold in Feb 2023 while Nissan India sales were at 2,184 units. Sales of Jeep (719 units) and Citroen (328 units) completed this list.