October’20 sales figures for most 4-wheeler manufacturing OEMs in India have been pretty strong
October’20 sales have registered a strong double digit growth of 18% over same month last year. Also, if sales figures were to be compared over last month’s performance, still, in October’20, overall car sales saw a record jump of 14% (MOM). These figures are very promising for the auto industry, especially considering the ongoing pandemic.
Maruti Continues to Dominate
In October’20, Maruti Suzuki sold 1.63 lakh cars, which happens to be Maruti’s ever-highest sales across the years. Comparatively, in the same month last year, Maruti had managed to sell 1,39,121 units.
Overall, it registered a massive 18% growth over last year, despite a heavy base. When comparing with its performance in the month of September’20, Maruti’s sales grew by 11%. Interestingly, Maruti has managed to hold a constant market share of 49% in the Indian market.
Hyundai maintains status-quo
Hyundai sold 56,600 units in October’20, registering a 13% growth over October’19. When compared with its performance in the month of September’20, Hyundai saw its sales figures going up by 12%. Thanks to these sales numbers, Hyundai has been majorly able to maintain its market share in the country.
In October’19 its market share stood at 17.6% and in October’20 its market share came down marginally to 17%. We are confident that with the launch of the 2020 i20 slated for 5th November, Hyundai will be able further boost its sales numbers considerably. Just like Maruti, Hyundai also posted their highest ever monthly sales in Oct 2020.
Tata Strengthens its Grip
For years, Tata Group’s Passenger Car segment has been eyeing the 3rd position in terms of size in the Indian market. It has managed to capture the 3rd spot on and off but for a majority of the time, Tata has missed the chance of earning a pole position. However 2020 seems to have different plans for Tata Motors. Over the course of the current year, Tata has been improving its market share regularly.
In the October’19, its market share stood at 4.6% whereas in October’20, its market share has increased to 7.1%. Sales in October’20 jumped by a humongous 79% and reached the 23,600 units mark whereas sales in October’19 were limited to just 13,169 units (almost a difference of 10,000 units). Even when we compare its Oct’20 sales vs Sep’20 sales, Tata managed to register a 11% increase in its sales figures, clearly showcasing that the current breed of Tata vehicles have managed to register way better acceptance in hearts of the buyers.
Kia Continues to Grow Enviably
One OEM whose sales figures have been giving sleepless nights to its rivals is Kia Motors. With just practically its presence in 2 segments, sub 4 metre SUVs and compact SUVs (ignoring the low number premium MPV segment), Kia has been able to clinch a market share of 6.3%.
In October’20, its sales figures crossed the 20K mark and reached 21,021 units, registering a stupendous 64% increase in sales over same month last year. This is the highest monthly sales registered by Kia since launch last year. Some Industry pundits had suggested that Kia’s dream run would end once the initial excitement around the new brand fizzles out but Kia has ensured that it continues to grow sustainably.
Concerns for Mahindra, Toyota, Honda
Mahindra used to consistently feature as the third largest OEM in the country, thanks to its strong SUV line-up. However with increase in competition, Mahindra has been loosing its market share regularly. In Oct’19, it held a market share of 6.3% which has now come down to 5.6%. On a YOY basis, sales numbers grew marginally by 4%, from 17,923 units to 18,600 units. It is extremely critical for the company that the 2021 XUV500 and 2021 Scorpio check all the right boxes so that the OEM can try and reclaim its market share.
Toyota too has been witnessing a relative slowdown in its growth. It saw its market share shrink from 4.2% in last year’s October to 3.7% this October. YOY sales increased from 11,866 units to 12,373 units, which is almost flattish.
Renault sales numbers in October decline from 11,516 units to 11,005 units this year. While a decrease of 500 units might not seem concerning, but when compared to an 18% growth OLY in the industry, the number do certainly look considerably poor. Renault would be hopeful that the upcoming Kiger helps the French automaker with some additional sales numbers very soon.
Other erst-while major OEMs like Honda, Ford, VW, Skoda, Nissan too have had a not so great October’20. While most of these OEMs have recorded almost a flat growth in October’20, VW and Nissan, both have registered strong degrowths of 36% and 38% respectively. The India 2.0 plan for VW group will be critical for group’s survival in the country and for Nissan, a lot will depend upon the success of the Magnite. It will be interesting to see how the next few months turn out for these OEMs and who all will be able to continue with an expansion of portfolio in the country.
MG registers a flattish month
Before we begin to comment upon MG’s performance, it is to be noted that all discussed sales figures till now were whole-sale sales figures, i.e. shipment figures to dealers. However, MG shares only its retail data, which is direct sales from dealerships to customers. Talking about numbers, MG saw its sales increase by a marginal 6%, from 3,536 units in Oct’19 to 3,750 units in Oct’20. However, its market share shrunk from 1.2% to 1.1%. Going ahead, MG would want to increase its manufacturing capability and plan big on the MG ZS (petrol powered) to further improve its presence in the Indian market.