At close to 3.36 lakh unit sales in March 2023, car sales in India recorded the highest ever March sales and also the highest ever financial year sales
As has been seen in the past, sales during the month of March are generally high. Buyers can claim depreciation benefits while automakers normally increase prices from April. This year in particular, prices have been increased on account of transition to new emission standards that became mandatory from 1st April 2023.
Rising sales in March 2023 was also on account of automakers offering hefty discounts on non-RDE stock. In the earlier post, we discussed the retail sales in March 2023. In today’s post we will take a look at wholesales. Total car sales in the past month stood at 3,35,888 units, up 4.5 percent YoY from 3,21,334 units sold in March 2022. It was also a MoM growth of 0.5 percent over 3,34,245 units sold in February 2023.
Car Sales March 2023 – Maruti Suzuki Commands 39.5 percent Market Share
Even as Maruti Suzuki sales dipped both on YoY and MoM basis, it led over other OEMs by a significant margin. Sales of the company in the past month stood at 1,32,763 units which was even higher than the combined sales of Hyundai, Tata Motors and Mahindra. This was however a 0.8 percent YoY de-growth from 1,33,861 units sold in March 2022. MoM sales also ended in the red, down 10 percent from 1,47,467 units sold in Feb 2023. Market share also dipped 2.1 percent YoY to 39.5 percent from 41.7 percent. The company’s compact segment, which included the likes of Baleno, Celerio, DZire, Ignis and WagonR brought in the highest sales.
Hyundai was at No. 2 with 50,600 units sold in the past month. This was a 13.5 percent YoY growth from 44,600 units sold in March 2022 while YoY sales also improved by 7.7 percent from 46,968 units sold in Feb 2023. The company commanded a 15.1 percent market share.
Tata Motors posted YoY and MoM sales growth at 4.1 percent and 2.8 percent respectively to 44,047 units sold in March 2023. The automaker was at No. 2 in terms of retail sales by 1,144 units over Hyundai Motors but at No.3 in wholesales which stood at 44,047 units in March 2023, up from 42,295 units sold in March 2022. MoM sales were also as compared to 42,865 units sold in Feb 2023. Market share was at 13.1 percent in the past month.
Another leading automaker to post YoY and MoM sales growth last month was Mahindra. Sales stood at 35,976 units in March 2023, up 31.6 percent and 19 percent when compared to 27,345 units sold in March 2023 and 30,221 units sold in Feb 2023. Mahindra has discontinued the KUV100 following the new emission regulations that have come into effect. The KUV100 is a part of 14 cars from other OEMs to face the axe this month.
Kia India was another OEM like Maruti Suzuki to post YoY and MoM de-growth in sales last month. Sales dipped 5 percent YoY and 12.6 percent MoM to 21,501 units while market share fell to 6.4 percent from 7 percent YoY.
Toyota Kirloskar Motors has seen sales growth in March 2023 by 8.5 percent YoY to 18,582 units from 17,130 units sold in March 2022. MoM sales also increased by 21.7 percent over 15,267 units sold in Feb 2023. Honda sales also improved by 1.6 percent YoY and 10 percent MoM to 6,692 units while MG Motor sales were higher by 28.2 percent YoY and 44.3 percent MoM to 6,051 units.
Renault, Skoda Suffer YoY De-growth in March 2023 sales
Sales of Renault and Skoda ended in the red in March 2023. Renault sales dipped 36.7 percent to 5,389 units in the past month from 8,518 units sold in March 2022. MoM sales also fell by 18.5 percent from 6,616 units sold in Feb 2023.
Skoda sales on the other hand suffered a YoY de-growth by 21.5 percent to 4,432 units while MoM sales improved by 29.7 percent from 3,418 units sold in Feb 2023. Skoda India has pulled out the Octavia sedan following the introduction of BS6 Phase II emission norms and the Superb is also likely to follow suit. Skoda Kushaq and Slavia have been updated to comply with RDE norms while prices have also been for these two models.
Volkswagen (3,900 units) and Nissan (3,260 units) have reported YoY and MoM increase in sales in March 2023 while Citroen has seen outstanding growth at 3775 percent YoY and 514.3 percent MoM to 2,015 units sold in March 2023. The new C3 hatchback and C5 Aircross have added efficiently to these sales and to boost sales even further, Citroen is actively testing the new C3 Aircross 7 seater SUV, that once launched will rival the Creta and Seltos. Global debut is planned for 27th April 2023, while launch will be sometime later. Lackluster sales were also reported by Jeep in March 2023 with YoY and MoM sales down 46.6 percent and 5.4 percent respectively to 680 units.