The last month was pretty hectic for the Indian auto industry, with a slew of new vehicles to be tested that will launch soon before the festive season starts. The market is getting a lot more competitive, with manufacturers launching exciting potential products into the market. Here's a quick breakdown of the sales analysis of India's leading auto manufacturers for July 2023.
1) Maruti Suzuki
India's largest car maker managed total domestic sales figures of 1,54,685 units (excluding exports+OEM sales) in July 2023, against 1,45,666 units in July 2022, thus registering around 6 per cent Y-o-Y growth. The sales of the SUV segment have gone marginally up, wherein Brezza, Ertiga, recently launched Fronx, Grand Vitara, S-cross and XL6 combined account for a total of 62,049 units. However, the combined sales of entry-level models- Alto and S-Presso are around 9590 units. Fanboy special - Jimny has been recently launched; though prices are slightly higher, we still believe it is expected to bump up the sales figures for Maruti Suzuki. Moreover, MS recently introduced a re-badged Innova Hycross as Invicto, which is also expected to boost sales for the brand.
2) Hyundai Motors
South Korean auto major has reported around 5 per cent of positive YoY growth with a total of 66,701 units sold compared to 63,851 units in July 2022. Hyundai also launched its Tata Punch rival- Exter, last month, which is expected to amplify sales for the brand. To know more about the Exter, click here.
3)Tata Motors
The Indian homegrown brand has seen quite a turnaround in recent years with its new-age cars. They have reported total sales of 47,689 passenger vehicles, compared with 47,636 units sold during July 2022. Tata Motors' highest-selling SUV, Nexon, is about to get a major facelift. Tata is also vouching for CNG technology, and they have recently launched Altroz iCNG.Both of these models will launch before the festive season. Tata is expected to grow multifold with the new-age EVs hitting our shores in 2024 or later in 2025. Long way to go, but still, the future looks bright and shiny for Tata Motors.
4)Kia Motors
Hyundai's sister brand- Kia Motors, has surpassed sales expectations ever since its launch in the Indian market. Kia India has yet to publish its sales number for July 2023. However, In June 2023, the brand managed to sell just 19,391 units, thus registering a 19 per cent decline compared to 24,024 units sold in June 2023. Kia has recently launched a facelifted Seltos. To know more about the Seltos, click here.
5) Mahindra and Mahindra
M&M has encountered tremendous growth, registering 29 per cent of YoY growth with total sales of 36,205 units in July 2023 compared to 28,053 units sold in July 2022. However, the MoM sales also grew up by just 11 per cent. Mahindra is ramping up its manufacturing facility to gap the waiting timeline, impacting its overall sales growth.
6) MG Motors
MG Motors encountered comparatively best growth in terms of sales growth as the brand managed to sell 5,012 units in July 2023, thus registering 25 YoY per cent growth. MoM sales declined by 2.3 per cent.MG is bullish on the EV market and has recently launched MG Comet. Stay tuned for the Comet EV road test review.
7) Honda India
Honda Cars India registered monthly domestic sales of 4864 units in July 2023. The brand records a 28 per cent decline in domestic sales compared to 6784 units in July 2022. Honda is set to make a strong comeback in the Indian market with its Creta-rival SUV - Elevate, which is expected to bring much-needed sales momentum. To know more about Elevate, click here.
8) Toyota Kirloskar Motor
Toyota has recently upped its game in the Indian market, resulting in 5 per cent YoY growth with a total of 20759 units sold in July 2023.
