The passenger vehicle (PV) segment witnessed a flat growth for the month of July 2023, with only four carmakers registering a month-on-month (MoM) growth of over 10 percent. While some automakers managed to retain their market share, others witnessed a decline. Here’s a look at the top 5 best-selling car brands in the Indian market for July 2023.
Best-selling car brands July 2023
| OEMs | July 2023 | June 2023 | MoM Growth (%) | July 2022 | YoY Growth (%) |
| Maruti Suzuki | 1,52,126 | 1,33,027 | 14.4% | 1,42,850 | 6.5% |
| Hyundai | 50,701 | 50,001 | 1.4% | 50,500 | 0.4% |
| Tata | 47,630 | 47,240 | 0.8% | 47,506 | 0.3% |
| Mahindra | 36,205 | 32,585 | 11.1% | 27,771 | 30.4% |
| Toyota | 20,759 | 18,237 | 13.8% | 19,693 | 5.4% |
Maruti Suzuki
Maruti Suzuki, the country’s largest carmaker, continued to dominate the pole position in the Indian car market with 1,52,126 units sold last month. As a result, a 6 percent increase in sales and 1.4 percent growth in market share, compared to the same month last year. In June 2023, Maruti sold 1,33,027 units which led to a MoM growth of 14.4 percent.
On the other hand, the Indo-Japanese carmaker sold 1,42,850 units in July last year resulting in a YoY growth of 6.5 percent. Sales of UVs for Maruti grew by166% with 62,049 units displaced to dealerships across the country in July this year.
Hyundai
Hyundai held onto its second spot with 50,701 units sold in July. Compared to the previous month, growth remained flat at 1.4 percent. During the same month last year, the Korean carmaker sold 50,500 units that resulted in a marginal 0.4 percent YoY increase. The company saw its market share dip by 0.4 percent.
Tata Motors retained the third spot in the PV segment with 47,630 units sold in July as compared to 47,506 units during the same month last year, leading to a stagnant YoY growth of 0.3 percent. In June, the figures stood at 47,240 units. Like Hyundai, Tata Motors’ market share also dropped by 0.4 percent.
Mahindra
Mahindra registered the highest YoY growth of 30 percent in July 2023 as the homegrown carmaker sold 36,201 units, its highest-ever monthly sales number in the domestic market. As a result, market share for Mahindra in the PV segment rose by 2.1 percent. In June 2023, the company sold 32,585 units, leading to a MoM growth of 11 percent.
Toyota
Toyota displaced Kia from the fifth spot by selling 20,759 cars in July 2023. During the same month previous year, the Japanese automaker recorded sales of 19,693 units, registering a YoY growth of 5.4 percent. This has been possible with the entrance of new models like Hyryder and Innova Hycross.
