News/ Industry/ Car Sales Analysis | October 2023 | Maruti Suzuki, Hyundai Motors, Kia Motors, Tata Motors, Mahindra & Mahindra, MG Motors, Honda Cars India,Toyota Kirloskar Motor

Car Sales Analysis | October 2023 | Maruti Suzuki, Hyundai Motors, Kia Motors, Tata Motors, Mahindra & Mahindra, MG Motors, Honda Cars India,Toyota Kirloskar Motor

The festive season is back, and it's a time when manufacturers capitalize on their products. There has been a notable surge in sales figures amongst major OEMs, and it is anticipated that this trend will continue in the coming months. Here's a quick breakdown of the sales analysis of India's leading auto manufacturers for October 2023.

 

1) Maruti Suzuki

 

India's largest car maker managed total domestic sales figures of 1,68,047 units (excluding exports+OEM sales) in Oct 2023, against 1,40,337 units in Oct 2022, thus registering around 20 per cent YoY growth. The sales of the SUV segment have gone marginally up, wherein Brezza, Ertiga, Fronx, Grand Vitara, S-cross and XL6 combined account for a total of 59,147 units. However, the combined sales of entry-level models- Alto and S-Presso are around 14,568 units. Fanboy special - Jimny is expected to bump up the sales figures. The growth is driven by premium SUVs, as compared to entry-level cars, which used to rule the market a few years back. 

 

 2) Hyundai Motors

 

The South Korean auto major has reported around 15 percent of positive YoY growth, with a total of 55,128 units sold compared to 48,001 units in Oct 2022. Tata Punch's rival- Exter, is anticipated to amplify sales for the brand, as the brand expects high-volume sales in this segment. 

 

 3)Tata Motors

 

The Indian homegrown brand has seen quite a turnaround in recent years with its new-age cars. For October month, they reported total sales of 48,637 passenger vehicles, compared with 45,423 units sold during Oct 2022, thus registering a growth of 7 per cent. Tata Motors' highest-selling SUV, Nexon, also got a major facelift; its EV derivative got substantial changes, too. Tata is expected to grow multifold with the new-age EVs hitting our shores in 2024 or later in 2025. Tata Motors has also launched a facelifted Safari and Harrier. To read more about them, click here. Tata has also announced a strategic collaboration with JLR group; to read more about that, click here. 

 

 4) Mahindra and Mahindra 

 

M&M has encountered tremendous growth, registering 35 per cent YoY growth with total sales of 43,708 units in Oct 2023 compared to 32,298 units sold in Oct 2022. However, the MoM sales also grew by just 6 per cent. Mahindra has also shown the Thar EV and pickup concept based on Scorpio-N, thus exhibiting their potential to tap into multiple market segments.

 

 5) MG Motors

 

MG Motors encountered comparatively healthy growth in terms of sales growth as the brand managed to sell 5,108 units in Oct 2023, thus registering 17 YoY per cent growth. MoM sales also grew by 36 per cent. 

 

 6) Honda India

 

Honda Cars India registered monthly domestic sales of 9,440 units in Oct 2023. Honda made a strong comeback in the Indian market with its Creta-rival SUV - Elevate, bringing much-needed sales momentum. 

 

 7) Toyota Kirloskar Motor

 

Toyota has recently upped its game in the Indian market, resulting in 57 per cent YoY growth with a total of 20,548 units sold in Oct 2023. Toyota also launched a Maruti Ertiga-based MPV called Rumion at Rs 10.29 lakh. Badge-engineering products also help Toyota to scale up its sales number. 

 

8) Renault & Nissan 

 

Renault India managed to clock total sales of 3,861 units, thus registering a YoY de-growth of around 50 per cent. On the other hand, Nissan India registered total sales of 2,573 units, compared to 3,061 units in Oct 2022. 

 

 

 

 

TopGear Magazine May 2024