There were a total of 3.32 lakh cars sold last month with Maruti Suzuki commanding a near 40% share
The entire automotive sector showed promise in September 2023. Every segment has witnessed growth except for Tractor sales which dipped 10 percent. While the car segment showed off a 19 percent YoY growth, the 2W segment grew at the rate of 22 percent while 3W and CV sales were up 49 percent and 5 percent respectively. Where passenger vehicle (PV) sales are concerned, along with favourable performance in the past month, dealerships now look ahead to an even more promising season ahead which will see 45 days of festivities starting from Navratri to Diwali for which dealers have inventory levels of 60-65 days.
Car Retail Sales September 2023
As per details released by Federation of Automobile Dealers Associations (FADA) car retail sales in September 2023 improved by 19.03 percent YoY to 3,32,248 units over 2,79,137 units sold in September 2022. It was also a 5.42 percent MoM growth over 3,15,153 units sold in August 2023. Almost every leading automaker in India has posted a YoY growth with Maruti Suzuki heading the segment.
Maruti Suzuki retail sales in the past month stood at 1,39,640 units to command a 42.03 percent market share. This was YoY growth over 1,11,159 unit retail sales in September 2023 while it was also significantly higher on a MoM basis as compared to 1,33,546 units sold in August 2023. The Maruti Baleno hatchback was a leading seller in the company portfolio while the company also received increased demand for Grand Vitara, Jimny, XL6 and Fronx.
Hyundai Motor India also reported sales growth to 49,625 units, up from 41,805 units sold in September 2022 to command a market share of 14.94 percent. The newly launched Hyundai Exter has been well received. Tata Motors retail sales remained more or less flat on a YoY basis at 38,984 units in September 2023 when compared to 38,244 units sold in the same period last year. Market share also dipped to 11.73 percent from 13.70 percent YoY. It was however, a MoM decline in retail sales when compared to 39,107 units sold in August 2023.
Mahindra sales also improved significantly YoY to 32,989 units in September 2023 from 24,471 units sold in September 22 to command a 9.93 percent market share. On the other hand, in September 2022, the company had an 8.77 percent market share. It was the Mahindra Scorpio/N, Bolero and XUV700 which brought in rich dividends for the company in September 2023.
As per FADA, retail sales of Kia improved to 21,030 units in September 2023 up from 19,109 units sold in September 2022. However market share dipped to 6.33 percent from 6.85 percent YoY. It was followed by Toyota with 17,959 unit retail sales last month, a growth over 13,590 units sold in September 2022. Market share improved to 5.41 percent over 4.87 percent held in September 2022.
Skoda sales also increased to 7,965 units in September 2023 from 6,262 unit sold in September 2022 while it was a MoM growth over 7,602 units sold in August 2023. Honda Cars India (6,848 units) and MG Motor (3,867 units) both posted YoY growth while Renault India and Nissan have seen retail sales fall on a YoY basis. Renault India retail sales fell to 3,573 units in September 2023 from 5,997 units sold in September 2022 bringing down market share to 1.08 percent from 2.15 percent. Nissan sales also fell to 2,154 units in the past month from 2,332 units sold in September 2022 to command a 0.65 percent market share.
Luxury automakers – Mercedes and BMW
Luxury automakers in the country have reported improved sales in September 2023. Mercedes Benz Group saw retail sales increase to 1,373 units from 1,120 units sold in September 2022 while BMW sales went up to 1,096 units from 953 units on a YoY basis. Force Motor sales also grew to 592 units from 461 units. Jaguar sales grew to 400 units in September 2023 from 177 unit retail sales in the same month last year while market share went up to 012 percent from 0.06 percent YoY. Luxury brand list also included Volvo (168 units) and Porsche (63 units).
PCA Automobiles (Citroen) saw a YoY de-growth to 460 units from 725 units while Jeep India retail sales also fell to 410 units in September 2023 from 1,093 units sold in the same month last year. The list also included BYD (139 units)and Isuzu (47 units). There were other automakers on the list that also contributed 2,866 units to total retail sales up from 1,942 units sold in September 2022.
