Around 3.31 Lakh passenger cars were sold in the Indian market in April 2023. The sales increased by over 13% when compared to April last year and the industry dropped by 1.3% in comparison to March 2023.
April generally is a dull month for the PV Industry. The same is reflected in VAHAN registration data published by FADA - Retail sales declined by 1 percent to 2,82,674 units in April 2023, compared to 2,86,539 units in the same month last year.
"The PV segment, which achieved record sales in FY23, slowed down in April. This was primarily due to last year's high base and the onboard diagnostics (OBD) 2A norms, which led to vehicle price increases and advanced purchases in March. Although supplies are improving, there is a significant mismatch between customer demand and available inventory," FADA President Manish Raj Singhania said in a statement.
Anyhow, the increased dispatches / WS highlights an easing supply chain and an increase in production by automakers. Shashank Srivastava, Senior Executive Officer- Marketing & Sales, Maruti Suzuki said that the PV industry retail was 2.86 lakh units and the wholesale was at 3.31 lakh which means that there was an increase in the network stock in the industry, up from 2.04 lakh units at the beginning of the month to 2.51 lakh now.
Maruti Suzuki registered 12.6 percent year-on-year growth while the month-on-month increase is 3.44 percent.
Hyundai recorded a month-on-month decline of 1.8 percent. However, the April 2023 wholesales are the second-best monthly numbers for the OEM in the past 13 months, going ahead of September 2022’s 49,700 units by one unit.
Tata dispatched 47,010 units in April 2023, up 13 percent year on year and 6.7 percent better than in March 2023.
Market Share Graph for April 2023 –