Passenger vehicle sales in July 2023 are up 6 percent year-on-year, with Utility Vehicles (UVs) being the driving force.
Passenger vehicle wholesales have scaled a new monthly high in July 2023, with an estimated 3,52,492 units. This has been possible due to the surging demand for SUVs and MPVs, although demand for small cars remains tepid and impacts overall growth. Overall sales are up 3.1 percent over last July, making July 2023 the best month, so far, for the passenger vehicle industry this calendar year, and likely the best July too.
| Passenger Vehicles sales in July 2023 | |||||
|---|---|---|---|---|---|
| July ’23 | July ’22 | YoY growth | June ’23 | MoM growth | |
| Maruti Suzuki | 1,52,126 | 1,42,850 | 6% | 1,33,027 | 14.35% |
| Hyundai Motors | 50,701 | 50,500 | 0 | 50,001 | 1.39% |
| Tata Motors | 47,689 | 47,636 | 0 | 47,359 | 0.69% |
| Mahindra & Mahindra | 36,205 | 28,053 | 29% | 32,588 | 11% |
| Toyota Kirloskar Motors | 20,759 | 19,693 | 5% | 18,237 | 14% |
| MG Motor India | 5,012 | 4,013 | 25% | 5,125 | -2.2% |
| Honda Cars India | 4,864 | 6,784 | -28% | 5,080 | -4.4% |
| Total of 7 OEMs | 3,17,356 | 2,99,529 | 6% | 2,91,417 | 8.9% |
With every second car sold in India being a utility vehicle (UV), SUV or an MPV, and with this segment growing much more than hatchbacks and sedans, it continues to be the highest seller for nearly all manufacturers. Cumulative sales for the first seven months of 2023, estimated at 23,62,500 units, are up 9 percent year-on-year (YoY).
Maruti SuzukiÂ
July 2023: 1,52,126 units – up 6 percent YoY, 14.35 percent MoM
The surging demand for its expanding portfolio of utility vehicles, comprising compact and midsized SUVs and three MPVs, saved the day for Maruti Suzuki in July. The company despatched a total of 1,52,126 units, 9,276 units more than last year, which translates to a 6 percent growth.
The model-wise sales split, as detailed by Maruti Suzuki, reveals that of its four sub-segments, its UV portfolio, including the Brezza, Ertiga, Fronx, Grand Vitara, Invicto, Jimny, S-Cross and XL6 sold 62,049 units, growing 167 percent YoY (July 2022: 23,272 units). This accounted for 41 percent of its total sales last month, compared to just 16 percent in July 2022. Clearly, the rollout of new models from Nexa have powered this growth, which, with 52,500 units, account for 34.5 percent of total PV sales for the company. Maruti’s overall market share this month is 43.3 percent, which is up from 41.8 percent in July 2022.
However, in comparison, sales in the other three sub-segments have declined – the Alto and S Presso budget hatchbacks only contribute 6.30 percent to Maruti’s total sales now, compared to 14 percent last July. The compact car portfolio (Baleno, Celerio, Dzire, Ignis, Swift, Tour S, Wagon R) with sales of 67,102 units, sees its share in total sales dropping to 44 percent as against 59 percent a year ago. The premium Ciaz sedan as well as the Eeco van, both saw their sales dip by 2 percent and 8 percent, respectively.
HyundaiÂ
July 2023: 50,701 units – up 0.39 percent YoY, 1.39 percent MoM
Hyundai India has registered wholesales of 50,701 units, which constitutes a YoY increase of just 0.39 percent (July 2022: 50,500 units). On a month-on-month (MoM) basis, the Korean carmaker’s sales are up 1.39 percent (June 2023: 50,001 units). Hyundai, which continues to be threatened by Tata Motors for second position in the market, is banking on the recently launched Exter to protect its turf. It has targetted overall domestic market sales of around 6,00,000 units this year.
The Hyundai Creta continues to be the company’s bestseller, and it recently surpassed the 9,00,000-unit sales milestone eight years after launch. In fact, its numbers are hard on the heels of the country’s bestselling SUV, the Tata Nexon. At the end of June 2023, at 43,082 units, the Creta was just 170 units behind the Tata Nexon (43,252 units).
Tata Motors
July 2023: 47,689 units – 0 percent YoY, 0.69 percent MoM
Tata Motors has reported wholesales of 47,689 units in July 2023, which makes for flat and zero growth year-on-year (July 2023: 47,636 units). Month-on-month growth too is minimal – just 0.11 percent (June 2023: 47,359 units).
Tata Motors is among the few passenger vehicle manufacturers with multiple powertrains – petrol, diesel, CNG and electric, and currently has a seven-model portfolio comprising four SUVs (Nexon, Punch, Harrier, Safari), two hatchbacks (Tiago and Altroz) and one sedan (Tigor).
On the EV front, the company sold a total of 6,329 units, up 53 percent (July 2022: 4,151 units). While it retains a first-mover advantage in this segment, the company is seeing new competition. The Mahindra XUV400 is the first real rival to its Nexon EV, and the MG Comet EV rivals the Tata Tiago EV. The going may be slow right now, but starting this festive season, Tata Motors has outlined launch plans for around half-a-dozen models, including facelifts and new powertrain options.
MahindraÂ
July 2023: 36,205 units – up 29 percent YoY, 11 percent MoM
Mahindra has reported total wholesales of 36,205 units in July 2023, which makes for a strong 29 percent YoY growth (July 2022: 28,053 units). This is its highest-ever monthly SUV sales, with its MoM growth standing at 11 percent (June 2023: 32,588 units).
Mahindra, which has eight SUVs (Bolero, Bolero Neo, Scorpio N, Scorpio Classic, Thar, XUV300, XUV400 and XUV700) and a sole sedan (eVerito), is among the manufacturers riding the surging wave of demand for UVs. Its robust market performance is due to its 31 percent growth in the first seven months of 2023 as well as the first four months of FY2024. The continued strong performance is bound to reflect in increased market share in July, with Mahindra driving ahead of Tata in terms of UVs (Q1 FY2024).
Mahindra has expanded its SUV manufacturing capacity from 29,000 units per month to 39,000 units, and plans to further raise it to 49,000 units in the current financial year.
ToyotaÂ
July 2023: 20,759 units – up 5 percent YoY, 14 percent MoM
Toyota, which is seeing a fresh wave of demand for its cars, SUVs and MPV, has reported wholesales of 20,759 units in July 2023, an increase of 5 percent (July 2022: 19,693 units). Month-on-month, sales are up 14 percent over June 2023’s 18,237 units.
MG MotorÂ
July 2023: 5,012 units – up 25 percent YoY, down 2.2 per cent MoM
MG Motor reported retail sales of 5,012 units, which represents a 25 percent year-on-year growth (July 2022: 4,013 units). Monthly sales are down by 2.2 percent versus June 2023’s 5,125 units.
In a statement, the company said that its retail sales were impacted due to severe weather and floods witnessed in parts of the country recently. Last month saw MG Motor India launch the updated ZS EV with an ADAS Suite at Rs 27.90 lakh.
With inputs from Mayank Dhingra
Also see:
Tata Motors to kick off festive season with revamped SUV line up
Grand i10 Nios to hold its fort post Exter launch, says Hyundai COO
