Most brands have registered positive month-on-month (MoM) sales growth
The car sales figures for July 2023 are out, and Maruti Suzuki remains the top-selling carmaker in India, with a significant growth rate. Apart from Maruti, only three other carmakers – Toyota, Volkswagen, and Mahindra – have achieved a month-on-month (MoM) growth of over 10 percent. The sales distribution for the top-performing car manufacturers in India is listed in the table below:
|
Brands |
July 2023 |
June 2023 |
MoM Growth (%) |
July 2022 |
YoY Growth (%) |
|
Maruti Suzuki |
1,52,126 |
1,33,027 |
14.4% |
1,42,850 |
6.5% |
|
Hyundai |
50,701 |
50,001 |
1.4% |
50,500 |
0.4% |
|
Tata |
47,630 |
47,240 |
0.8% |
47,506 |
0.3% |
|
Mahindra |
36,205 |
32,585 |
11.1% |
27,771 |
30.4% |
|
Toyota |
20,759 |
18,237 |
13.8% |
19,693 |
5.4% |
|
Kia |
20,002 |
19,391 |
3.2% |
22,022 |
-9.2% |
|
MG |
5,012 |
5,125 |
-2.2% |
4,013 |
24.9% |
|
Honda |
4,864 |
5,080 |
-4.3% |
6,784 |
-28.3% |
|
Skoda |
4,207 |
3,966 |
6.1% |
4,447 |
-5.4% |
|
Volkswagen |
3,814 |
3,394 |
12.4% |
2,915 |
30.8% |
Key Takeaways
-
Maruti Suzuki surpassed the 1.5 lakh sales mark, achieving the highest MoM growth of over 14 percent. The gap between Maruti and the second best-selling carmaker, Hyundai, is over 1 lakh units. In fact, Maruti sells more cars per month than the next three best-selling carmakers combined.
Also Read: Maruti Alto Moniker Crosses 45 Lakh Sales Milestone
-
Hyundai continues to be the second best-selling car manufacturer in India, surpassing 50,000 unit sales in July 2023. There is strong demand for Hyundai cars, likely due to the launch of the new Exter micro-SUV.
-
Tata has shown consistency in both MoM and YoY sales. The Indian carmaker is expanding its production capacity and working on facelifts for Nexon, Harrier, and Safari, which are expected to be launched next year.
-
Mahindra has achieved an MoM growth of 11 percent and a YoY growth of 30.4 percent. Mahindra plans to increase its production capacity in the next six months to reduce waiting periods on its SUVs.
-
Toyota has surpassed Kia to become the fifth best-selling carmaker in India, selling over 20,000 units in July 2023. The automaker is currently experiencing high waiting periods on its MPVs.
Also Read: Toyota Innova Crysta Gets Dearer By Up To Rs 37,000
-
Kia achieved a positive MoM sales growth of 3.2 percent, but saw a YoY sales decrease of over 2,000 units. It slipped to the sixth spot in the sales table. The launch of the updated Seltos is expected to reignite sales for Kia.
-
MG is the next best-selling carmaker with over 5,000 vehicles sold. Its MoM sales declined by 2 percent, but it showed a YoY growth of nearly 25 percent.
-
Honda experienced a decline in both MoM and YoY sales. It saw a loss of over 4 percent in MoM sales and a 28.3 percent decrease in YoY sales. However, the launch of the new Elevate SUV could improve its results significantly.
-
Both Skoda and Volkswagen made it to the top 10 list for July 2023 sales, although their sales figures were not as impressive. Together, they did not even reach the 10,000 unit sales mark. However, Volkswagen achieved the highest YoY growth of 30.8 percent.