Most carmakers have registered positive YoY growth in October 2022 and have been able to maintain their respective market share without any major deviations
October was a good month for carmakers, as YoY sales have grown by 29.26%. Barring a few like Renault, Nissan and Jeep, most other carmakers have posted double-digit growth in the month. A total of 3,36,298 units were sold in October 2022, as compared to 2,60,162 units in October last year.
In terms of MoM growth, numbers are down by -5.25%. Sales in September 2022 were higher at 3,54,947 units. Only four carmakers, Honda, Renault, MG Motor and Jeep have posted positive MoM growth in October.
Car Sales Oct 2022 – Maruti leads
Maruti continues to lead with market share of 41.73%. Maruti sold a total of 1,40,337 units in October 2022, as compared to 1,08,991 units in October last year. YoY growth is at 28.76%. MoM numbers are down by -5.42%, as compared to 1,48,380 units sold in September 2022. Maruti’s market share remains steady with a drop of just -0.16%.
Hyundai is in second place with market share of 14.27%. It has maintained a decent lead over Tata Motors in the month. Hyundai sales in October 2022 were at 48,001 units, as compared to 37,021 units in October last year. YoY growth is at 29.66%. MoM growth is negative at -3.42%, as compared to 49,700 units sold in September 2022. Hyundai has registered marginal gain in market share at 0.04%.
Tata Motors is third with sales of 45,217 units in October 2022. Market share is at 13.45%. YoY growth is at 33.29%, as compared to 33,925 units sold in October last year. MoM growth is down by -5.11%, as compared to 47,654 units sold in September 2022. Tata has gained 0.41% market share, as compared to October last year.
Mahindra is fourth, with market share of 9.60%. A total of 32,298 units were sold in October, as compared to 20,130 units in October last year. YoY growth is at 60.45%, the highest among top ten carmakers. MoM numbers are down by -6.40%, as compared to 34,508 units sold in September 2022. Mahindra has registered the highest gain in market share at 1.87%.
Kia is fifth with market share of 6.94%. A total of 23,323 units were sold in October 2022, as compared to 16,331 units in October last year. YoY growth is at 42.81%. MoM growth is down by -9.80%, as compared to 25,857 units sold in September 2022. Kia has registered 0.66% gain in market share.
Citroen registers strong growth
Among all carmakers, Citroen has the highest YoY growth of 1767.19%. A total of 1,195 units were sold in October 2022, as compared to just 64 units in October last year. Much of Citroen’s growth is powered by its C3 SUV.
In the top ten list, Toyota is at sixth place with sales of 13,143 units in October. YoY growth at 5.65% is the lowest among all carmakers. Toyota sales in October last year were at 12,440 units. MoM growth is down by -14.53%, as compared to 15,378 units sold in September 2022.
Honda at 7th place and MG at 9th place are the only carmakers to have positive growth in both YoY and MoM terms. MG Motor’s YoY growth of 52.53% is the second highest in top ten list. Honda YoY growth is at 17.70%. At number ten is Volkswagen with sales of 3,510 units. YoY growth is 14.07%, as compared to 3,077 units sold in October last year. Skoda, Nissan, Citroen and Jeep completed the list.
