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 August 2023.
India's largest car maker managed total domestic sales figures of 1,56,114 units (excluding exports+OEM sales) in August 2023, against 1,34,166 units in August 2022, thus registering around 16 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 58,746 units. However, the combined sales of entry-level models- Alto and S-Presso are around 12,209 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. To know more about Invicto, click here.
South Korean auto major has reported around 9 per cent of positive YoY growth with a total of 53,830 units sold compared to 49,510 units in August 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.
The Indian homegrown brand has seen quite a turnaround in recent years with its new-age cars. They have reported total sales of 45,933 passenger vehicles, compared with 47,351 units sold during August 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.
Hyundai's sister brand- Kia Motors, has surpassed sales expectations ever since its launch in the Indian market. In August 2023, the brand managed to sell just 18,269 units, thus registering a 10 per cent decline compared to 20,355 units sold in August 2023. Kia has recently launched a facelifted Seltos. To know more about the Seltos, click here.
M&M has encountered tremendous growth, registering 25 per cent of YoY growth with total sales of 37,270 units in August 2023 compared to 29,852 units sold in August 2022. However, the MoM sales also grew up by just 3 per cent. Mahindra is ramping up its manufacturing facility to gap the waiting timeline, impacting its overall sales growth.
MG Motors encountered comparatively modest growth in terms of sales growth as the brand managed to sell 4185 units in August 2023, thus registering only 9 YoY per cent growth. MoM sales declined by 16.5 per cent
Honda Cars India registered monthly domestic sales of 7880 units in August 2023. 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.
Toyota has recently upped its game in the Indian market, resulting in 9 per cent YoY growth with a total of 20970 units sold in August 2023.