CARVERSAL

Car sales in India have been on an incline across top-selling automakers. The customer sentiment boosted sales of these cars even when there was a shortage of supplies and semiconductor chips across these brands.

The Passenger Vehicle segment recorded sales of 3,35,531 units in May of 2023. This has been the fifth month in which the 3,00,000 mark was crossed. Maruti, Tata, Mahindra and Toyota marked the highest sales, each achieving a YoY growth.

Car Sales Record

May 2023 recorded a 13.99% YoY and 1.21% MoM growth in sales. Total sales in the past month stood at 3,35,531 units compared to 2,94,342 units sold in May 2022. MoM sales have also improved, with over 3,31,509 units in April 2023.

Maruti topped the list with 15.45% growth with 1,43,708 units in May 2023 with a 19,234 unit volume growth compared to last year; the company is commanding a 42.83% market share.

MoM sales have also improved by 4.65%, with 1,37,320 units sold in April of this year, during which the market share was 41.42%.

Hyundai sales grew by 14.91%, with 48,601 units in May 2023 from 42,293 units sold in May 2022, with a total of 14.48% market share. The MoM sales have dipped 2.21 percent from 49,701 units in April 2023.

Then comes Tata Motors selling 45,878 units in the past month, a 5.85% YoY growth but a 2.41% decline on an MoM basis. This resulted in market share dipping to 13.67% in May 2023 from 14.18% in April 2023 compared to 14.72% in April 2023. Tata’s EV vehicles and CNG counterparts have played a major role in car sales.

Toyota sold about 20,410 units in the past month and experienced a 99.78% YoY growth considering in May 2022. It only sold about 10,216 units in total. MoM sales also grew by 44.12 percent.

Kia sold slightly less than Toyota, with a difference of 1,644 units. Kia had a growth of just 0.26%, and the market share was 5.59% for May 2023. MoM sales experienced a decline of a huge 19.17%.

MG motors (retail) have grown YoY and MoM with 5,006 units. Its May 2022 and April 2023 sales stood at 4,008 and 4,551 units, respectively. MG motors, as of now have achieved a market share of 1.49%.

Bad Performers- Honda, Renault and Skoda

These automakers have experienced a decline in their MoM and YoY sales, with Honda selling 4660 units, Renault with 4625 units and Skoda at 3457 units in May 2023. Among these companies, Honda suffered the most YoY decline, with its figure standing at 43.09% decline following its footsteps, Skoda suffered a decline of 22.96%.

One of the new companies, Citroen, has bulked up about 3258% growth in May 2023 with 806 units, while its April sale stood at 1,003 units with 19.64% MoM de-growth.

Jeep was the last on the list with 734 units sold last month, down to 20.91% from its 928 units sold in May of 2022, while its MoM sales grew by 31.54% with 558 units sold in April 2023.