In December 2023, the Indian passenger car market witnessed the sale of approximately 2.87 lakh units. This marked a 4% increase compared to the same month the previous year but also indicated a significant 14.2% decline when compared to November 2023. Notably, this was the first instance in the entire year of 2023 that the industry fell below the 3 lakh mark.
Traditionally, December experiences lower vehicle dispatches due to OEMs striving to reduce dealership stock levels. Automakers typically focus on maximizing the liquidation of available cars by offering discounts and announcing price increases effective from January. Despite the dip, December 2023 recorded the highest-ever dispatches for the Indian Passenger Vehicle (PV) Industry for that month.
In a noteworthy development, Tata Nexon emerged as the top-selling car in the country in December 2023, with total sales reaching 15,284 units, marking a 27% year-on-year growth. The second position was secured by the Maruti Suzuki Dzire, which recorded sales of 14,012 units, reflecting a 17% year-on-year growth.
The Tata Punch claimed the third spot with sales of 13,787 units, compared to 10,586 units in December 2022. Maruti Suzuki’s Ertiga MPV and Brezza subcompact secured the fourth and fifth positions with sales of 12,975 units and 12,844 units, respectively. Tata Motors achieved significant milestones by surpassing Hyundai to claim the second spot and reporting a year-on-year growth exceeding 8%. However, the company experienced a nearly 6% decline compared to the previous month.
India’s 5 Top-Selling Cars in December 2023
| Model | Dec 2023 | Dec 22 | YoY |
| Tata Nexon | 15,284 | 12,053 | 27% |
| Maruti Dzire | 14,012 | 11,997 | 17% |
| Tata Punch | 13,787 | 10,586 | 30% |
| Maruti Ertiga | 12,975 | 12,273 | 6% |
| Maruti Brezza | 12,844 | 11,200 | 15% |
Maruti Suzuki faced a 6.5% decline in December 2023 compared to the same period the previous year, accompanied by a more than 4% drop in market share. However, the company’s retail sales numbers fared better, reflecting the success of their strategy to substantially reduce stock levels.
Toyota successfully reclaimed the fourth position, outpacing Kia by a substantial margin of 8,836 units. The automaker showcased remarkable growth, boasting a significant 105% increase compared to the previous year and an impressive 26.3% surge when compared to the previous month.
