Mid-sized SUV segment which has seen the launch of new cars like Creta, Seltos – has registered staggering growth
The automotive segment is currently on a path of recovery, since most of the segments in passenger vehicles reported a YoY growth in August 2020. Automotive sector, especially the passenger vehicle segment was hit hard due to an economic slowdown which was later accentuated by the Covid-19 pandemic earlier this year.
However, with businesses resuming and demand rising due to the need for personal mobility over shared mobility, sales of passenger cars have shown appreciable growth last month with respect to August 2019. The figures stated below support our claim.
Compact Hatchbacks Continue To Rule
The compact hatchback segment continued to lead the charts with 56,151 units sold last month. It witnessed an impressive growth of 18 percent compared to last year when it sold 47,673 units during the same period. Popular cars such as Maruti Suzuki Swift, Wagon R, Hyundai Grand i10 and Tata Tiago were the main contributors for growth in this space.
Mid-size SUVs continue to rise high and fast
SUVs have been raging on in the Indian market for a while and now it continues to do so with mid-size SUV segment selling 35,121 units last month. It recorded an excellent growth of 65 percent over last year’s sales of 21,333 units in August. This segment benefited a lot from the exemplary sales performance of Hyundai Creta (11,758 units) and Kia Seltos (10,655 units).
Premium Hatches still have a strong hold
Premium hatchback sales also recorded appreciable growth with 27,187 units sold last month as compared to 23,583 units retailed in August 2019. This led to a surge of 17 percent in this space with Maruti Suzuki Baleno (10,742 units), Hyundai i20 (7,765 units) and Tata Altroz (4,951) being the most popular of the lot.
Compact SUV, MUV Post Marginal Growth
Compact SUV and MUV segment also recorded decent sales figures with 26,825 units and 24,398 units sold respectively in August 2020. Both these segments recorded marginal growth of 2 and 3 percent respectively with Hyundai Venue (8,267 units) leading the compact SUV space and Maruti Suzuki Ertiga leading the MUV (9,302 units) category.
Entry-Level Hatches Roar Loud
The biggest surprise was pulled off by the entry-level hatchback segment which recorded a massive growth of 83 percent. This space sold 23,887 units last month as opposed to just 13,065 units sold in August 2019. This is due to a strong show in the market by Maruti Suzuki Alto (14,397 units), S-Presso (5,312 units) and Renualt Kwid (3,677 units).
Other segments such as compact sedans(21,988 units), Vans (9,115 units) and executive sedans (6,140 units) witnessed decent growth of 4, 5 and 11 percent respectively. Although more premium segments such as premium SUVs (1,583 units), premium sedans (239 units) and luxury sedans (129 units) witnessed recorded slump of 16, 40 and 39 percent respectively.