After witnessing a healthy growth in numbers during January, the automotive sector, especially the passenger vehicle (PV) segment, reported strong sales figures in February 2023. The wholesale numbers are up due to a healthy uptick in the urban markets, pent-up demand, marriage season and further improvement in the supply of semiconductors.
Maruti Suzuki India Limited (MSIL) reported a 10 percent growth in its domestic PV sales to 147,467 units in February 2023, compared to 133,948 units in the same month last year. The company’s total domestic wholesales, including PVs, light commercial vehicles and sales to other OEMs or original equipment manufacturers, stood at 155,114 units during the month under review, up from 140,035 units in February last year.
“The shortage of electronic components had a minor impact on the production of vehicles, mainly in domestic models. The Company took all possible measures to minimise the impact,” MSIL said in a statement.
Hyundai Motor India Limited’s (HMIL) domestic sales rose 6.7 percent year-on-year, with 47,001 units sold in February 2023 versus 44,050 units in February 2022.
Tarun Garg, chief operating officer, HMIL, said, “The overall sales numbers are showing a positive trend across segments, and we are delighted to witness the trust of our beloved customers for Hyundai cars in India.”
Tata Motors reported an annualised growth of 7 percent for total domestic PV sales, including electric vehicles (EVs), at 42,862 units against 39,981 units in February 2022. EV sales, which include domestic sales and exports, rose 81 percent to 5,318 units from 2,934 units in February last year.
Mahindra & Mahindra (M&M) on Wednesday said its total sales increased by 8 percent to 58,801 units in February. The company's total dispatches to its dealers stood at 54,455 units in February 2022. The Mumbai-based auto major's PV sales in the domestic market were up 10 percent at 30,358 units against 27,663 in February last year, the auto major said in a statement.
M&M automotive division president Veejay Nakra said the company continues to sell more than 30,000 SUVs per month. "Our recent launches (Thar RWD and XUV400) have received a very positive response, and we see good demand across our portfolio as well. We are monitoring and taking appropriate steps on the supply chain scenario of semiconductors, which continue to be dynamic," he noted.
Kia India maintained its growth momentum, selling 24,600 units in February 2023, a 35.8 percent growth from 18,121 units sold in the corresponding month last year.
Commenting on the numbers, Hardeep Singh Brar, national head, sales and marketing, Kia India, said, “Achieving 35.8 percent growth against the industry’s growth of 10 percent shows the love and confidence the Indian consumers have for the brand.”
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