The total car sales for December 2023 escalated to 2,87,204 units, marking a notable 4.39% increase compared to the corresponding period in 2022, where the sales stood at 2,75,130 units
The automobile industry in India witnessed intriguing shifts and steady growth in December 2023 as major car manufacturers revealed their sales figures for the month. The data, compiled and analyzed meticulously, showcases a nuanced narrative of changing consumer preferences and market dynamics.
Car Sales Dec 2023 – Top Performers
Maruti retained its dominant position despite experiencing a slight decline. Selling 1,04,778 units in December 2023, the brand contributed significantly to the market, commanding a 36.48% share despite a 6.46% drop compared to December 2022. Tata and Hyundai exhibited commendable growth, with Tata witnessing an 8.56% surge (43,471 units) and Hyundai recording a 10.09% rise (42,750 units) compared to the same period last year.
Toyota emerged as a remarkable success story, experiencing a staggering 105.09% year-on-year growth by selling 21,372 units compared to 10,421 units in December 2022. Mahindra marked a substantial 24.13% increase, selling 35,171 units, reflecting a positive response to its lineup.
Renault faced a steep decline of 67.55%, moving 1,988 units compared to 6,126 units in December 2022, warranting a closer examination of its market strategy. Citroen and Jeep faced challenges, with Citroen experiencing a decline of 30.26% (650 units) and Jeep declining by 43.30% (436 units). Their strategies might require adjustments to align with market demands.
Month On Month Comparison – Sales Decline
Maruti, despite maintaining its leading position, encountered a notable drop of 21.90%, selling 1,04,778 units in December compared to 1,34,158 units in November 2023. Tata and Hyundai also faced declines of 5.64% and 13.55%, respectively, showcasing sales of 43,471 units and 42,750 units in December.
Mahindra and Kia experienced drops of 12.03% and 44.93%, selling 35,171 units and 12,536 units in December, respectively. Toyota witnessed a significant upsurge, boasting a 26.28% increase in sales from November 2023, selling 21,372 units in December, showcasing a positive market response to its offerings.
Volkswagen (VW) and Skoda also showcased impressive gains, with VW recording a remarkable 59.29% increase and Skoda experiencing a 23.45% surge in sales compared to the previous month. Renault and Nissan continued to grapple with declining figures, witnessing drops of 18.92% and 12.39%, respectively, in December 2023. Citroen and Jeep showcased marginal improvements but struggled to gain significant market traction, indicating challenges in their market strategies.
Market Share Analysis
Maruti continues to maintain a dominant position despite experiencing a decline in market share from 40.71% in December 2022 to 36.48% in December 2023, marking a 4.23% decrease year-on-year. Tata and Hyundai showcased marginal increases in their market shares, standing at 15.14% and 14.88%, respectively, signaling a positive trajectory compared to December 2022.
Mahindra experienced a notable surge in market share, moving from 10.30% in December 2022 to 12.25% in December 2023, indicating a 1.95% increase year-on-year. Toyota emerged as a significant gainer, expanding its market share from 3.79% in December 2022 to 7.44% in December 2023, representing a substantial 3.65% increase year-on-year. Renault, on the other hand, faced a substantial decline in market share, dropping from 2.23% in December 2022 to 0.69% in December 2023, signalling a concerning 1.53% decrease year-on-year.
