Just like the preceding months, auto sales in the month of November 2022 remained buoyant as most of the car manufacturers have registered positive growth in the domestic market. Two-wheeler sales, which were muted until last month, also saw a slight uptick.
Car market leader Maruti Suzuki India Limited (MSIL) recorded a growth of 14.3 percent increase in total wholesales at 159,044 units in November. Last month, its domestic sales rose 18 percent to 139,306 units as against 117,791 units in November 2021.
“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 minimize the impact.” MSIL said in a statement.
Hyundai Motor India Limited (HMIL) announced it retailed 48,003 units as opposed to 37,001 units during the same month last year. It recorded YoY growth of 29.7 percent.
Commenting on November 2022 sales, Tarun Garg, Director (Sales, Marketing & Service), HMIL said, “On the back of a strong festive season, we have achieved a high double-digit growth in domestic sales in the last couple of months when compared to the same period last year.”
Tata Motors registered a YoY growth of 27 percent by retailing 73,467 units as opposed to 58,073 units in November 2021. Mahindra & Mahindra Ltd. (M&M Ltd.) announced that its overall auto sales for the month of November 2022 stood at 58,303 vehicles.
Veejay Nakra, President of, Automotive Division, M&M Ltd., commented “Our sales volume continued to grow in November powered by robust demand across our portfolio,” adding, “The supply chain situation continues to be dynamic due to continuing international disruptions. We are keeping a close watch and are taking appropriate steps.”
Unlike previous months, the total two-wheeler sales also went up during November as the top three players saw sales growth last month.
Hero MotoCorp stated that its wholesales increased by 12 percent to 390,932 units as compared to 349,393 units in November 2021. In the domestic market, the company's sales rose to 379,839 units as compared with 328,862 units in November last year.
“Hero MotoCorp expects the momentum to build up in the coming quarters on account of favorable economic indicators, including encouraging farm activity and positive consumer sentiments along with upcoming marriage season, the company said in a statement.
Honda Motorcycle & Scooter India (HMSI) reported a 38 percent rise in domestic sales at 353,540 units in November 2022. The company sold 256,174 units in the same month last year.
Atsushi Ogata, Managing Director, President & CEO, Honda Motorcycle & Scooter India said, “After a successful festival season, HMSI continues to witness consistent demand in the market. There is now a growing need for mobility in urban India as offices, and institutions open up and more and more people venture out.”
TVS Motor Company too saw its sales go up by 2 percent to 277,123 units in November. The company had dispatched 272,693 units in the year-ago period. Its domestic two-wheeler sales registered a growth of 9 percent increasing to 191,730 units last month as against 175,940 units the previous year.
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