In March auto sales which company performed well ?
Top three carmakers Tata Motors, Hyundai , Maruti suzuki reported highest ever sales volume in FY-23. The passenger vechile (PV) industry ended the year with 38.38 lakh units. marking a growth of 27% against 30.69 lakh units of last year.
Tata Motors Passenger Vechiles Sales Up by 4%
The total domestic sales of Tata Motors Ltd rose by 3% year on year to 89,351 units in March while commerical vechile sales ramins flat and rise in dispatches of passenger vechiles.
The company said the growth rate of passenger vechiles may moderate due high base effect , higher interest rates, rising infllation and cost impact from progressive regulatory norms.
But the market leader for EV cars remained positive on electrification trend driving higher sales.
“We expect the demand for personal vechiles to remain robust with the trend of electrification further strengthening as more options are made available to customers plus support from a rapidly and griowing ecosysytem,”Shailesh chandra, managing director of Tata Motors passenger Vechiles, said in release.
Tata Motors March Sales (YoY):
- Total commerical vechile sales flat at 46,823 units.
- Passenger vechile sales grew 4% to 44,225 units.
- Passenger vechile sales in FY-23 jumped 45% to 5.4 lakh units.
- Commericial vechile sales rose 16% to 4.1 lakh units.
Hyundai Motor India Ltd. registered its highest-ever domestic sales.
“FY 22-23 has been a phenomenal year for Hyundai Motor India, as we introduced seven segment defining products such as the all-new Hyundai Tucson, new Venue, Venue N Line, all electric Ioniq 5, new Grand i10 Nios, new Aura and the all-new Verna catering to different segments thus giving a strong push to brand Hyundai amongst new-age Indian customers. Despite global headwinds, we see momentum in the Indian auto industry backed by strong India growth story led by Gen MZ (millennials),”Tarun Garg,Cheif Operating Officer,HMIL,Said,
Hundai Motor India Ltd. (HMIL) March Sales (YoY):
- Total sales growth of 13% in domestic market to 50,600 units in March, as compared with 44,600 units in the same month last year.
- The company’s yearly sales also jumped to 18% to 5,67,546 units in the domestic market against 4,81,500 units in FY2021-22.
- Exports also increased by 1.99% YoY to 10,900 units in March 2023 from 10,687 units exported in March 2022.
Maruti Suzuki India reported marginal sales decline on YoY.
Maruti Suzuki India Ltd.’s total dispatches to dealerships remained flat at 1.70 lakh units in March with domestic sales falling marginally. A consensus estimate of analysts expected the sales to rise over 1% year-on-year. The sales in the mini and compact segment, under which it sells mostly hatchbacks, fell more than 14% to 83,714 units.
“The shortage of electronic components had some impact on the production of vehicles in FY2022-23. The company took all possible measures to minimise the impact,” MSIL said in a statement.
Maruti Suzuki March Sales (YoY):
- Domestic sales fell nearly 2.7% to 1.40 lakh units.
- Utility vechiles jumped 48% to 37,054 units.
- Exports rose 13.7% to 30,119 units.
- Total dispatches in FY-23 rose 19% to 19.66 lakh units.
M&M see strong demand in its passenger vechile segment .
The company closed the year with a growth of 50% for the auto sector on an annual basis and highest ever number in almost all business segments. Company’s total passenger vechile sales rose 30% to 35,997 units in March 2023, it’s highest ever in a month.
“Increase in crop output, mandi prices staying firm, Goverment support for increase in MSP for major crops and increase in wages under MNREGA scheme will help improve the financial security of rural househols and boost tracor demand in the coming months,”Hemant Sikka, president of the farm quipment sector, said in a press release.
M&M March Sales (YoY):
- Trractor sales grew 18% to 35,014 units.
- Three-wheeler dispatches up 41% to 5,697 units.
- Total passenger vechiles sales in FY-23 jumped 59% to 3.39 lakh units.
- Tractor sales in FY-232 rose 15% to 4.08 lakh units.
Passenger vechile March sales snapshot :
| Company | Sales in March 2023 | Sales in March 2022 | Sales% Change (YoY) |
|---|---|---|---|
| Toyota Kirloskar | 18,670 | 17,131 | 8.98% |
| Kia India | 21,501 | 22,622 | -4.96% |
| Hundai | 55,287 | 44,600 | 23.96% |
| Tata Motors | 44,044 | 42,350 | 4% |
| Mahindra & Mahindra | 35,997 | 27,690 | 30% |
| Maruti Suzuki | 1,70,071 | 1,70,395 | -o.19% |
Two Wheeler March sales snapshot :
| Company | Sales in March 2023 | Sales in March 2022 | % Change |
|---|---|---|---|
| Hero Motocorp | 5,19,342 | 4,50,152 | 15.50% |
| Royal Enfield | 72,235 | 67,677 | 6.73% |
| TVS Motors | 3,07,918 | 2,92,918 | 5.12% |
| Honda Motorcycle & Scooter | 2,47,175 | 3,12,650 | -20.94% |