The first quarter of the ongoing financial year 2018-19 (April-June 2018) has seen the demand for cars and SUVs in India going up and overall more than 8.73 lakh cars (including UVs and Vans) were sold in India at a year-on-year growth of 19.91%. Passenger cars accounted for 5.83 lakh units and, sales of utility vehicles dominated by SUVs stood at 2.34 lakh units and Van sales were reported at 55,078 units in the first quarter as per the data released by Society of Indian automobile manufacturers (SIAM).
The growth in the car sales of India in 2018 comes on the account of a lower base in Q1 of FY 2017-18 due to the anticipation of Goods and Services Tax (GST). Positive market sentiments including good monsoons, reviving GDP, increase in spendable income and lower interest rates have further helped to boost car sales in India.
New car launches like Honda Amaze, Toyota Yaris have kept the momentum growing and India’s largest carmaker Maruti Suzuki is scoring big with a huge demand for its All-new Swift, Baleno and Dzire with Maruti Suzuki Alto being the country’s best selling car. Maruti Suzuki sold a total of 4,58,957 units in India in the first three months and has further increased its market share in the country. The company launched its new Maruti Suzuki Swift in India at the Auto Expo 2018 and is now gearing up to launch the facelift of Maruti Suzuki Ciaz that will be sold through the NEXA channel of dealerships. The company this financial year has already grown by 25% and with new products coming out, expect the company to sustain high growth this financial year.
Top car manufacturers in India in 2018:
Units sold (Apr-June 2018)
Hyundai Motor India
Mahindra & Mahindra
Honda Cars India
Hyundai Motor India plant in Chennai is running to its full capacity and the company’s cars and SUVs including the likes of Hyundai Creta, Hyundai i20 and Hyundai Grand i10. The Korean carmaker sold a total of 1,37,114 units in the Indian domestic market during the first three months of this financial year reporting a double-digit growth of 10.28%. Hyundai is also celebrating 20 years in India and will launch the new 2018 Hyundai Santro during the upcoming festive season.
Indian automakers, Mahindra and Tata Motors are also off to a good start this financial year by selling 60,539 units and 58,969 units respectively. Both Mahindra and Tata Motors are yet to launch an all-new product this year but surely has some big plans with multiple new product launches in SUV space. For Tata Motors, its Tiago hatch and Nexon SUV has given its sales a big boost with a growth of 48.49%.
Also read: Mahindra confirms 4 new SUVs in FY 2018-19; To upgrade entire product line-up by 2020
New Honda Amaze has helped Honda Cars India to boost its sales by 10% and registered a sales of 42,609 units. The company will further be launching its new 2018 Honda CR-V SUV in India and later in the last quarter of 2018-19, Honda Civic will make its grand comeback in India. Toyota Yaris sedan has helped Toyota Kirloskar Motor to sell a total of 39,238 units and Ford Ecosport SUV has seen Ford India’s sales spiking up by 18% by selling 24,941 units.
Renault India has slowed down the production from its plant as its sales continue to decline in 2018. Renault sold a total of 20,790 units with a negative growth of 16.92%. Nissan sales in India also declined by 15% and stood at 10,605 units. Volkswagen passenger car sales stood at 9,159 units (down by 15%). Skoda Kodiaq SUV sales have picked up in June that helped Skoda Auto India to sell 4,214 units in the April-June 2018 period.