Carmakers logged the best-ever November sales as demand for personal transport continues to remain strong, and the industry is poised for record sales in 2023. Industry analysts reckon that automakers despatched around 3,35,354 units last month.
On a year-on-year (YoY) basis, sales were up 3.9 percent from 3,22,600 units sold in November 2022. The cumulative sales from April to November this fiscal were 28,00,730 units, up 7.9 percent from 25,96,042 units a year ago.
The country's largest carmaker, Maruti Suzuki, reported a 3.39 percent rise in total sales at 1,64,439 units in November 2023, compared to 1,59,044 units in November 2022. Its domestic passenger vehicle (PV) sales stood at 1,34,158 units last month compared to 1,32,395 units in the same month, last year — a growth of 1.33 percent.
Shashank Srivastava, Senior Executive Officer (Marketing & Sales), Maruti Suzuki, said the comparison with November 2022 might be a “little tricky,” because this year’s numbers include the festive season bookings, which happened in October last year.
“Diwali, Bhai Dooj, etc., happened in the first fortnight of November. Whereas last year, the festive season got over by end-October. So the figures are not quite comparable,” noted Srivastava. However, he maintained that, “Good production thanks to semiconductor availability, coupled with the festive period in the first 15 days of November, has resulted in robust sales. Last November also was robust in terms of volumes.”
Hyundai Motor India’s sales went up 3 per cent YoY to 65,801 units in November, compared to 64,003 units in the same month last year. The South Korean carmaker’s domestic sales rose to 49,451 units, up 3 percent from 48,002 units in the year-ago period.
"With encouraging customer response leading to higher retail sales during the festival season, our dealer network stock is at a very optimum level of three weeks. The Hyundai family is all set to end CY23 on a high, and welcome CY24 on a positive note," Hyundai Motor India COO Tarun Garg said in an official statement. He added, “The company's SUV line-up continues to exhibit robust momentum, contributing over 60 percent to overall sales.”
Mahindra & Mahindra (M&M) announced that its auto sales had increased 21 percent YoY to 70,576 units in November. The Mumbai-based automaker had dispatched 58,303 units in November 2022.
The company’s utility vehicle dispatches in the domestic market stood at 39,981 units last month, an increase of 32 percent over the 30,238 units sold in the year-ago period.
Veejay Nakra, President, Automotive Division, M&M Ltd., said, “We continue our growth trend, backed by strong demand for our SUV portfolio. While we saw a healthy festive season, we faced supply challenges with select parts during the month. We are keeping a close watch and taking appropriate steps to mitigate the challenges.”
Toyota Kirloskar Motor (TKM) reported a 51 percent growth in sales at 17,818 units in November 2023, compared to 11,765 units in the corresponding month last year. The company’s domestic sales last month were at 16,924 units, while exports stood at 894 units.
"We recorded a strong festive season with healthy bookings, and we are extremely thrilled to see the market responding very positively to our entire product range," said Atul Sood, Vice-President, Sales and Strategic Marketing, TKM.
MG Motor India said its retail sales had increased 2 per cent to 4,154 units in November 2023. The British carmaker had sold 4,079 units in November 2022.
Tata Motors, however, reported a 1.7 percent drop in sales for November 2023, when it despatched 74,172 vehicles, compared to 75,478 units during November 2022. The company’s domestic sales during the month fell 1 percent YoY to 72,647 units, from 73,467 units in November 2022. Its PV sales for the month stood at 46,143 units, a 1 percent decline from 46,425 units in the same month last year.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
