Automobile sales in July 2023 saw a flat growth for most carmakers, as UVs were the most-sold vehicles for carmakers such as Maruti Suzuki, Hyundai, and Mahindra. Homegrown carmaker Mahindra saw a 30 percent increase in domestic SUV sales compared to last year, while Tata Motors and Hyundai registered almost no growth.
Starting with Maruti Suzuki, India’s largest carmaker registered 1,52,126 unit sales in July 2023 as compared to selling 1,42,850 units in July 2022, registering a YoY growth of 6.5 percent. Almost 40 percent of Maruti Suzuki’s sales accounted for UVs such as the Brezza and Grand Vitara amongst others, while hatchback and compact vehicle sales saw a decline of 27 percent.
India’s second-best-selling carmaker, Hyundai, saw 0.4 percent YoY growth in July 2023, having sold 50,701 units as compared to 50,500 units sold a year ago. However, for Hyundai, exports saw an increase of 19.84 percent, having shipped 16,000 units in July.
Tata Motors also saw a flat growth of 0.2 percent in domestic sales in July 2023, having sold 47,628 units as compared to 47,505 units in July 2022. Tata’s exports also saw a massive decline of 53 percent, having exported just 61 units last month compared to 131 units in July 2022.
Amongst the carmakers, Mahindra saw the highest growth at 30 percent, having sold 36,205 SUVs in the domestic market as compared to 27,854 units sold in July 2022. Mahindra’s exports, however, saw a decline of 9 percent, having exported 2,540 units as compared to 2,798 units sold in July 2022.
Japanese carmaker Honda saw a decline in sales of 28.3 percent, having sold 4,864 units in July 2023. In comparison, Honda sold 6,784 units in India in July last year. Honda’s exports also saw a massive decline of 47.1 percent, having exported 1,112 units last month. With the launch of the Honda Elevate around the corner, Honda’s fortunes may change, as UV sales in India are growing.
