After witnessing a growth in numbers in January and February, March too has sustained the momentum buoyed by a healthy uptick in urban markets, pent-up demand, impending price hike of vehicles due to the second stage of BSVI emission norms, launch of new models, and easing of the chip shortage.
Maruti Suzuki’s total sales declined marginally to 1,70,071 units last month compared with 1,70,395 units in March 2022. This includes domestic sales of 1,36,787 units, sales to domestic original equipment manufacturers (OEMs) (3,165 units), and exports (30,119 units). Total dispatches in the domestic market declined 3 percent to 1,39,952 units (domestic + OEM sales) compared to 1,43,899 units in March 2022.
“The shortage of electronic components had some impact on the production of vehicles in FY23. The company took all possible measures to minimise the impact,” Maruti Suzuki said in a statement.
Hyundai Motor India logged an 11 percent increase in sales at 61,500 units last month, compared to 55,287 units in March 2022. The company’s domestic dispatches rose 13 percent in March 2023 to 50,600 units, compared to 44,600 units a year ago.
Tata Motors’ passenger vehicle (PV) sales (including electric cars) in the domestic market stood at 44,044 units last month, a 4 percent jump over the 42,293 units sold in March 2022. Its total PV sales (comprising both the domestic and the international businesses) also went up by 4 percent, with 44,425 units sold last month, compared to 42,466 units in March 2022.
Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, said, “FY22-23 has set a new record for passenger vehicle sales in India. The steep growth witnessed by the industry was driven by post-COVID pent-up demand in the early part of the year, the launch of several new vehicles, and easing of the semiconductor shortage. While SUVs and EVs led this growth, customers’ rising preference for safe vehicles and smart technology features was equally pronounced.”
Mahindra & Mahindra Ltd (M&M Ltd) announced that its auto sales for the month of March 2023 stood at 35,976 vehicles, its highest-ever growth of 31 percent. In the PV segment (which includes utility vehicles (UVs), cars and vans), the company sold 35,997 units, which is 30 percent more than the same period last year.
According to Veejay Nakra, President, Automotive Division, M&M Ltd, "We are delighted to close the year with a growth of 50 percent for the auto sector on an annual basis and the highest-ever numbers, in almost all segments of the business."
Kia India on Saturday said its sales declined 5 percent to 21,501 units last month, compared to 22,622 units in March 2022.
According to initial estimates, FY23 saw sales of 38.9 lakh units, a 27 percent growth over the 30.7 lakh units dispatched in the previous financial year. Furthermore, Maruti Suzuki, Hyundai, and Tata Motors reported their highest-ever dispatches to dealers last fiscal, enabling the domestic PV industry to log its best-ever performance till date.
In the two-wheeler space, Hero MotoCorp reported a 15 percent rise in total sales at 5,19,342 units for March 2023, compared to 4,50,154 units in the same month last year. The company’s domestic sales last month stood at 5,02,730 units against 4,15,764 units in March 2022, registering a growth of 21 percent, Hero MotoCorp said in a statement.
Honda Motorcycle & Scooter India (HMSI) revealed that it sold a total of 211,978 units in the month of March 2023, of which overall domestic sales stood at 197,512 units and exports at 14,466 units. Its domestic sales were down about 36 percent from the 3,09,549 units it had sold during the same month last year.
At 3,17,152 units, TVS Motor Company reported a 3 percent growth in sales across its two- and three-wheeler offerings in March 2023, against 3,07,954 units sold in the same month last year. Its domestic two-wheeler sales stood at 2,40,780 units last month compared to 1,96,596 units in the year-ago period, up 22 per cent, the company said. Its overall (domestic plus international) two-wheelers sales grew 5 percent last month, to 3,07,559 units, compared to 2,92,918 units in March 2022. The company sold 9,593 three-wheelers in March 2023 against 15,036 units in March 2022.
Suzuki Motorcycle India Private Limited (SMIPL) registered overall sales of 97,584 units in March 2023. The company sold 73,069 units in the domestic market and exported 24,515 units in March 2023. During April 2022 to March 2023, the company sold 938,371 units, an increase of 24.3 percent compared to 754,938 units in the previous financial year, the company stated.
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