Thanks to new launches in the booming utility vehicle (UV) segment such as the Kia Seltos, Maruti Suzuki Invicto, Hyundai Exter, and Honda Elevate, passenger vehicle (PV) sales continued to rise for the seventh consecutive month this year.
Furthermore, a gradual easing of the chip shortage, sustained demand for sports utility vehicles (SUVs), and reduced waiting periods for certain models gave a further boost to car sales last month. Industry estimates suggest that 3,52,492 PVs were sold in the domestic market during July 2023.
Maruti Suzuki India Limited's (MSIL) total domestic PV sales stood at 152,126 units in July 2023, registering a 6.5 percent growth over the 142,850 units sold in the same month last year. The growth came primarily on the back of SUV sales, which grew 166 percent to 62,049 units from 23,272 units in July 2022.
In the UV segment, MSIL registered 62,049 units in July 2023, compared to 23,272 units sold in the same month a year ago.
Shashank Srivastava, Senior Executive Officer, Marketing and Sales, MSIL, said in a media briefing that the contribution of SUVs to the overall PV market was 49.1 percent in July, up from 43 percent in the year-ago period and 47 percent in the previous month. He also stated that the company's marketshare in the SUV segment has also increased to 24.6 per cent last month from 7.1 percent in July 2022.
MSIL’s total sales (including CVs and sales to other original equipment manufacturers, or OEMs), combining both domestic and export figures, stood at 181,630 units in July 2023, compared to 175,916 units in the same period last year.
Hyundai Motor India Ltd (HMIL) saw its domestic sales rise by 0.4 percent to 50,701 units in July 2023, vis-à-vis 50,500 units sold in the same month last year. Exports by the Indian arm of the South Korean carmaker stood at 16,000 units in July 2023, in comparison to 13,351 units last year. The company’s total sales for July stood at 66,701 units.
Commenting on the July 2023 sales numbers, Tarun Garg, Chief Operating Officer (COO) of Hyundai Motor India Ltd, said, "Our domestic July sales volume of 50,000 plus units is backed by a strong SUV portfolio, which has been bolstered by the addition of the Hyundai Exter. With the semiconductor supply issues more or less behind us, we are all geared up for the upcoming festive season in India, starting with Onam in Kerala."
Tata Motors’ total PV sales, including EVs, rose marginally to 47,689 units from 47,636 units. The company sold 6,329 EVs in July, up 53 percent from 4,151 units in the year-ago period.
Mahindra and Mahindra (M&M) recorded total sales of 36,205 units in the domestic PV market last month. Sales stood at 28,053 units during the same month last year. The Mumbai-based UV maker claimed it registered its highest-ever SUV sales of 36,205 units in the month of July.
"It has been a record-breaking month for us," stated Veejay Nakra, President-Automotive Division at M&M. "We continue to receive robust demand for our key brands. We will keep a close watch on the availability of semi-conductors and select parts to ensure sustained scale-up."
Toyota Kirloskar Motor (TKM) revealed that its total dispatches to dealers increased by 11 percent last month to 21,911 units, compared to 19,693 units in July 2022. Last month, the company's domestic wholesales stood at 20,759 units, while exports accounted for 1,152 units.
"Given the mid-year sales trend and the favourable demand sentiments, coupled with our increase in production by adding a third shift, we are confident of recording one of our strongest years in the country. We are also keenly looking forward to a good festival season and gearing up to meet the further surge in demand," TKM Vice President (Sales and Strategic Marketing) Atul Sood said in a statement.
MG Motor India has reported retail sales of 5,012 units, which represents 25 percent year-on-year (YoY) growth in July 2023 compared to 4,013 units in the same month last year. In an official statement, the British carmaker revealed that its retail sales were impacted due to "severe weather" and "floods" witnessed in major parts of the country recently.
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