For yet another month, it is the Hyundai Creta which is the best selling SUV in the country
October’20 has been one of the best months for the Indian auto industry, especially since the onset of Covid-19 pandemic. Sales across major brands and segments have seen an upswing in demand. However, as always, certain segments have outperformed others and have aggressively driven growths for the overall industry.
The largest segment in the Indian auto industry by volumes is of the compact hatchbacks which includes models like Swift, WagonR, Tiago, i10, Santro and Ignis. The segment saw overall sales of 79,352 units in the month of October’20. When compared to sales in the month of October’19, it registered an overall growth of 27% over last year, which is commendable for the largest segment by volume.
Compact SUVs take the lead
The fastest growing segment (with credible volumes) in the Indian market happens to be of compact SUVs which has registered a stupendous growth of 60% over same month, last year. Last year, the segment had registered sales of 33,225 units whereas in October’20, segment’s sales stood at 53,111 units. The growth was majorly led by brands like Sonet, Venue, Brezza, Nexon and XUV300.
The premium hatchback segment which majorly comprises of cars like Hyundai i20, Maruti Suzuki Baleno, Honda Jazz and Toyota Glanza also saw a decent sales increase of 18% over last year. In October’19, 36,612 units of premium hatchbacks were sold whereas in the month of October’20 a total of 43,132 units of premium hatchbacks were sold. It also landed up being the 3rd largest category of cars sold in India.
The craze for SUVs is common across segments. While compact SUVs grew by a stellar 60%, the mid-sized SUV segment also managed to grow by 11%. The segment includes SUVs like, Hyundai Creta, Jeep Compass, Kia Seltos, Tata Harrier and Mahindra XUV500.
While many analysts had predicted an increase in sales of entry-level hatch-backs, majorly due to the ongoing pandemic and requirement of social distancing, the sales figures however tell a different story. The entry-level hatchback segment recorded a flat growth of 0% in the month of October’20. All major models in the category, like Maruti Alto, Renault Kwid and Maruti S-Presso, recorded a completely flat month in terms of sales.
The Not-so Fast Lane
Sales remained muted in segments like Compact Sedan, Executive Sedan, Luxury Sedan and Premium SUVs. All the above mentioned segments recorded either a flat October’20 or an extremely slow single digit growth last month. Two segments which recorded degrowth were MUVs and Premium Sedans. While the slowdown in the MUV segment is restricted to just -3%, the degrowth in Premium Sedan segments is higher at -62%.