Tag Archives: monthly

Featured

Volkswagen Virtus Outsells The Hyundai Verna In March 2024 Sales

The phase’s month-to-month gross sales have gone up by over 10 %, with greater than 6,600 items bought in March 2024

It looks as if the compact sedan phase ended the monetary yr 2023-2024 on a constructive word as steered by March 2024 gross sales. The Volkswagen Virtus leads the gross sales chart, carefully adopted by the Hyundai Verna. Except the Honda City, nearly all compact sedans have proven constructive month-on-month (MoM) progress final month. Here’s a breakdown of how every sedan carried out in March 2024 gross sales.

Compact sedans
 

March 2024

February 2024

MoM Growth

Market share present(%)

Market share (% final yr)

YoY mkt share (%)

Average gross sales (6 months)

Volkswagen Virtus

1847

1631

13.24

27.87

17.71

10.16

1741

Hyundai Verna

1716

1680

2.14

25.89

37.12

-11.23

1865

Skoda Slavia

1358

1028

32.1

20.49

15.56

4.93

1584

Honda City

1116

1184

-5.74

16.84

26.62

-9.78

1318

Maruti Suzuki Ciaz

590

481

22.66

8.9

2.96

5.94

633

Total

6627

6004

10.37

99.99

      

Key Takeaways

volkswagen virtus

  • With over 1,800 items bought, the Volkswagen Virtus was the best-selling compact sedan in March 2024. The Virtus recorded month-to-month gross sales progress of over 13 %, and it has almost 28 % market share within the phase.

  • The Hyundai Verna narrowly missed surpassing the Virtus’ gross sales by simply 131 items. Despite sustaining constant month-on-month gross sales with over 1,700 dispatches, its year-on-year (YoY) market share declined by greater than 11 %.

  • Skoda’s compact sedan, the Slavia, attracted greater than 1,300 patrons in March 2024. Despite registering the very best 32 % progress in month-on-month (MoM) gross sales, the Slavia’s gross sales final month had been nonetheless over 200 items lower than its common gross sales during the last six months.

Also Check Out: Tata Punch Became The Best-selling Car In India For The First Time In March 2024

2023 Honda City

  • The Honda City is the one compact sedan right here which took successful in month-to-month gross sales, nonetheless it nonetheless crossed the gross sales mark of 1,000 items. The City’s YoY market share additionally went down by almost 10 %. We suspect this drop in output was because of the change in variant-wise options that had been introduced in April 2024, and the Honda sedan ought to return to its ordinary gross sales output quickly.

  • The Maruti Ciaz, now thought-about a dated mannequin within the phase, emerged because the least promoting compact sedan in March 2024. Despite attracting lower than 600 patrons final month, its month-to-month gross sales elevated by over 100 items.

Read More on : Hyundai Verna on road price

Featured

Hyundai Creta Beat Maruti Grand Vitara, Was The Best-selling Compact SUV In February 2024

With a tally of over 15,000 items, it was the most effective ever month-to-month gross sales outcome for the Hyundai Creta in India 

Creta, Seltos, Grand Vitara

The Hyundai Creta has reclaimed the highest place within the February 2024 gross sales chart with a constructive month-on-month (MoM) outcome, beating the Maruti Grand Vitara. Almost 45,000 compact SUVs have been offered in India final month. Here’s how every of them carried out:

Compact SUVs & crossovers
 

February 2024

January 2024

MoM Growth

Market share present(%)

Market share (% final 12 months)

YoY mkt share (%)

Average gross sales (6 months)

Hyundai Creta

15276

13212

15.62

34.01

35.44

-1.43

12316

Maruti Grand Vitara

11002

13438

-18.12

24.49

31.23

-6.74

10459

Kia Seltos

6265

6391

-1.97

13.94

27.25

-13.31

10275

Toyota Hyryder

5601

5543

1.04

12.47

11.24

1.23

4239

Honda Elevate

3184

4586

-30.57

7.08

0

7.08

4530

Volkswagen Taigun

1286

1275

0.86

2.86

5.63

-2.77

1875

Skoda Kushaq

1137

1082

5.08

2.53

6.06

-3.53

2099

MG Astor

1036

966

7.24

2.3

3.46

-1.16

870

Citroen C3 Aircross

127

231

-45.02

0.28

0

0.28

137

Total

44914

46724

-3.87

        

Key Takeaways

2024 Hyundai Creta

  • With greater than 15,000 items dispatched, the Hyundai Creta was the top-selling compact SUV in February 2024. It not solely registered the very best MoM gross sales progress of greater than 15 p.c, however its final month’s gross sales have been additionally its highest month-to-month gross sales ever for the reason that Creta launched right here in 2015.

  • The Maruti Grand Vitara is the one compact SUV after the Creta to cross the gross sales mark of 10,000 items, with over 11,000 items offered in February. However, the Grand Vitara’s MoM gross sales dipped by over 2,400 items, and its year-on-year market share additionally declined by practically 7 p.c.

  • The Kia Seltos maintained a constant MoM demand, with over 6,000 items retailed final month. However, its February 2024 gross sales have been practically 4,000 items lower than its common gross sales of the final six months.

  • The Toyota Urban Cruiser Hyryder additionally remained a constant performer in February 2024. Toyota dispatched over 5,500 items of the Hyryder final month.

Also Check Out: Hyundai Creta N Line vs Turbo-petrol Rivals: Claimed Fuel Efficiency Compared

Honda Elevate

  • The Honda Elevate took a success of over 30 p.c in MoM gross sales in February 2024. Honda managed to retail over 3,000 items of the Elevate SUV. The Elevate’s present market share within the phase stands at 7 p.c.

  • The Volkswagen Taigun had subsequent to no change in month-to-month gross sales. More than 1,200 items of the Taigun SUV retailed in February 2024. On the opposite hand, the Skoda Kushaq registered a progress of 5 p.c in MoM gross sales,  even crossing the gross sales mark of 1,000 items, however fell simply 149 items in need of the Taigun’s February gross sales.

  • The MG Astor additionally registered a constructive progress in MoM gross sales, attracting over 1,000 patrons final month. 

  • The Citroen C3 Aircross was the least promoting compact SUV in February 2024, with solely 127 items offered. 

Read More on : Creta on road price

Featured

Maruti Dominated The November 2023 Compact & Midsize Hatchback Sales

The Tata Tiago was the one hatchback to file a optimistic development in each month-to-month and yearly gross sales

Maruti Wagon R, Tata Tiago, Maruti Swift, Hyundai Grand i10 Nios

In November 2023 gross sales, Maruti hatchbacks have been among the many high two, with the Tata Tiago making up the highest three. Following the festive season, most hatchbacks skilled a decline in month-to-month gross sales. Here’s the detailed gross sales report for compact and midsize hatchbacks in November 2023.

Models

November 2023

November 2022

October 2023

Maruti Wagon R

16,567

14,720

22,080

Maruti Swift

15,311

15,153

20,598

Tata Tiago

5,508

5,097

5,356

Hyundai Grand i10 Nios

4,708

7,961

6,552

Maruti Celerio

2,215

2,483

4,317

Maruti Ignis

1,660

5,087

2,374

Maruti Wagon R Front

  • Despite going through a month-on-month (MoM) lack of 25 %, the Maruti Wagon R was as soon as once more the top-selling hatchback for the second consecutive month. The Wagon R alone exceeded the mixed gross sales of all fashions right here, besides the Maruti Swift. 

  • At second place, the Maruti Swift achieved gross sales of over 15,000 items in November 2023, exhibiting a constant year-on-year (YoY) efficiency. Though the Swift confronted a MoM decline of 26 %. 

Also Check Out: Tata Nexon Edges Out Maruti Brezza And Hyundai Venue In November 2023

Tata Tiago

  • The Tata Tiago beats the Hyundai Grand i10 Nios to take the third spot within the gross sales chart with gross sales of over 5,500 items. It’s the one hatchback within the checklist that noticed optimistic development in each MoM and YoY gross sales, although below 10 % every.

  • With over 4,700 items offered, the Hyundai Grand i10 Nios slipped from the third to the fourth spot in November 2023 gross sales. The hatchback has skilled losses in each MoM (by 28 %) and YoY gross sales (by greater than 40 %).

Also Check Out: Price Hike Incoming For Maruti, Hyundai, Tata, And Others In 2024

Maruti Celerio

  • The Maruti Celerio and Maruti Ignis have additionally confronted losses in each month-to-month and yearly gross sales in November 2023. The Celerio’s MoM and YoY gross sales went down by 49 % and 11 %, respectively. On the opposite hand, the Ignis confronted losses of 30 % and 67 % in MoM and YoY gross sales, respectively. The Celerio’s gross sales crossed 2,000 items, whereas the Ignis has taken the final spot within the desk and has not even crossed 2,000 unit gross sales. 

Read More on : Wagon R on road price

Featured

Maruti, Hyundai, & Tata Continue To Be The Best Selling Car Brands In November 2023

All carmakers skilled a decline in month-to-month gross sales following the push from the festive shopping for interval of October

Maruti, Hyundai and Tata logo

The brand-wise automobile gross sales figures for November 2023 are out, and though nothing has modified when it comes to the highest performing manufacturers and their positions, the figures paint an image of the market publish October festivities. Maruti Suzuki led the chart, adopted by Hyundai and Tata respectively. Each of the highest 10 promoting automobile manufacturers of the earlier month have skilled a month-on-month (MoM) loss in demand, whereas Kia, Skoda, and Volkswagen have additionally encountered a drop in year-on-year (YoY) gross sales. Let’s take a more in-depth have a look at the brand-wise gross sales report for the highest 10 best-selling automobile manufacturers for November 2023.

 

Brands

November 2023

October 2023

MoM Growth (%)

November 2022

YoY Growth (%)

Maruti Suzuki

1,34,158

1,68,047

-20.2%

1,32,395

1.3%

Hyundai

49,451

55,128

-10.3%

48,002

3%

Tata

46,070

48,343

-4.7%

46,040

0.1%

Mahindra

39,981

43,708

-8.5%

30,233

32.2%

Kia

22,762

24,351

-6.5%

24,025

-5.3%

Toyota

16,924

20,542

-17.6%

11,765

43.9%

Honda

8,730

9,400

-7.1%

7,051

23.8%

MG

4,154

5,108

-18.7%

4,079

1.8%

Skoda

3,783

4,566

-17.1%

4,433

-14.7%

Volkswagen

3,095

4,089

-24.3%

3,570

-13.3%

Key Takeaways

Maruti Fronx

  • Maruti Suzuki witnessed a major drop in MoM gross sales of 20 %, however continues to be comfortably the best-selling automobile model in November 2023, with unit gross sales of greater than 1,34,000 models.

  • Hyundai hangs onto second spot within the month-to-month gross sales chart by retailing greater than 49,000 vehicles in November 2023, although it too skilled a drop in MoM efficiency at a drop of 10 %.

Also Check Out: Shah Rukh Khan Takes Home The Hyundai Ioniq 5, His First EV

Tata Safari

  • With over 46,000 models bought in November, Tata retained the third spot within the gross sales desk. Of all of the remaining automobile manufacturers, Tata’s efficiency was  probably the most constant in each MoM and YoY gross sales, with the bottom MoM lack of practically 5 %.

  • Mahindra firmly retains the fourth place in November 2023 by promoting practically 40,000 models. Although Mahindra’s MoM gross sales declined by 8.5 %, its YoY gross sales went up by over 32 %.

Kia Seltos

  • Kia was the fifth best-selling automobile model in India in November 2023, having bought greater than 22,700 models. Although Kia skilled a decline in each MoM and YoY gross sales, it’s anticipated to regain market share with the launch of the Kia Sonet facelift in early 2024.

  • Toyota bought practically 17,000 models final month and recorded the very best YoY progress of round 44 % in November 2023. However, its MoM gross sales went down by over 3,600 models, a decline of over 17 %.

Also Check Out: All The Advantages And Disadvantages Of Buying A New Car At The End Of A Calendar Year

Honda Elevate

  • Even Honda skilled a drop in MoM gross sales of seven %. The Japanese carmaker retailed greater than 8,700 models in November 2023, recording constructive YoY progress of practically 24 %. 

  • MG secured the eighth place on the month-to-month gross sales chart by promoting over 4,000 models in November. Despite a loss in MoM gross sales, the model maintained a constant YoY demand. 

  • Skoda and Volkswagen are on the backside of this checklist, falling wanting the  4,000 models gross sales mark. Both manufacturers have skilled losses in each MoM and YoY gross sales. Volkswagen recorded the very best lack of 24.3 % in month-to-month gross sales.

Motorsport

More People Than Ever Paying $1K A Month For New Cars In Q3 2023

Last quarter, average monthly payments for both new and used cars remained high. While shoppers paid $30 more per month for new cars, payments for used cars decreased by $2.

New car buyers are spending more each month to finance a smaller amount, as the interest rates have increased and the loan terms have shortened. In Q3 2023, the average financing amount for new cars was $40,149 for 68.4 months, resulting in a monthly payment of $736 with a 7.4 percent APR. In comparison, during the same quarter last year, people were paying $703 per month at 5.7 percent for 70.3 months on $41,347.

  New, Q3 2023 Used, Q3 2023
Term 68.4 70.1
Monthly Payment $736 $567
Amount Financed $40,149 $29,328
APR 7.5% 11.2%
Down Payment $6,907 $4,111

Used car monthly payments slightly decreased last quarter to $567 compared to Q2 2023, but they are still higher than the $565 paid in Q3 2022. The average amount financed for used cars also decreased to $29,328, down from $31,367 in Q3 2022 and $29,665 in Q2 2023.

In July, August, and September, a record number of new car buyers opted to pay $1,000 or more per month for their vehicles. The percentage of these consumers increased from 17.1 percent to 17.5 percent in the last quarter.

The rise in interest rates is a major factor contributing to the high monthly car payments. The APR for used cars averaged 11.2 percent over the last three months, a significant increase from the 9.0 percent seen last year. The average APR for new cars has also risen by nearly two percent.

These interest rates were last seen in 2007, with new cars having an average APR of 7.4 percent and used cars at 11.4 percent. Average down payments for both new and used cars have also increased, with new cars requiring an average down payment of $6,907 and used cars requiring $4,111.

Edmund‘s study predicts that monthly payments will remain high in the near future. There is a possibility that the Federal Reserve might raise interest rates again before the year ends, and the ongoing UAW strike could adversely affect inventory levels for those automakers, resulting in higher prices for new and used vehicles.

A study by iSeeCars from last month revealed that the limited production of new cars during the pandemic has caused used car prices to rise by 33 percent compared to prices in 2019. With fewer new cars available at dealerships, prices are expected to increase for everyone.

Featured

Hyundai Creta continues to dominate compact SUV sales, as Kia Seltos experiences a major decline


Maruti Grand Vitara records the largest growth in sales

In May 2023, compact SUV sales dropped by 4.8% compared to April 2023. Out of all the models, the Hyundai Creta was the only one to sell more than 10,000 units, while Kia Seltos had the highest decline of over 40% in monthly sales.

Here’s a breakdown of the compact SUV sales in May 2023:

Compact SUVs & crossovers
 

May 2023

April 2023

MoM Growth

Market share current(%)

Market share (% last year)

YoY mkt share (%)

Average sales (6 months)

Hyundai Creta

14449

14186

1.85

33.17

47.54

-14.37

12866

Mahindra Scorpio

9318

9617

-3.1

21.39

18.83

2.56

7921

Maruti Grand Vitara

8877

7742

14.66

20.37

0

20.37

7706

Kia Seltos

4065

7213

-43.64

9.33

25.79

-16.46

7921

Toyota Hyryder

3090

2616

18.11

7.09

0

7.09

3485

Skoda Kushaq

1685

2162

-22.06