Around 3,28,079 passenger cars were sold in the Indian market for August 2022. The sales increased by over 26% when compared to August last year. The industry however declined by 3.8% in comparison to July 2022. It also crossed the 3 Lakh dispatch figure for the fifth month in this calendar year.
Aug'22 had 2 major festivals - Onam (the biggest festival in Kerala) and Ganesh Chaturthi (celebrated majorly in West & South India). Even Rakhi, Krishna Janmashtami & Teej were celebrated in several parts of the country. The consistent sales volumes highlight the ease in semiconductor supply and increased production capability of the OEMs. The automakers would now be looking forward to leveraging on the upcoming Dusshera and Diwali.
Mahindra registered the highest ever SUV volume of 29,516 in August, registering a growth of 87% over August 2021. Sales for Tata Motors remained impressive and its Top models - Nexon and Punch sales were the highest ever at 15,085 units and 12,006 units respectively.
Toyota & Nexa have aggressively marketed their upcoming models Hyryder & Grand Vitara - Both these OEMs claim to have garnered impressive bookings. The pricing shall be vital to establish these models in the highly competitive Mid SUV space. The segment is currently dominated by the Koreans (Creta/Seltos); it shall be interesting to see how the Toyota+Maruti joint force shall tackle the competition.
Maruti Suzuki reported YoY growth of 30%, while the Industry grew by 26.4%. Hence, Maruti was able to increase its Market Share by over 1.1%.
Hyundai is now being regularly challenged by Tata Motors for the second spot. Hyundai was just 2.3k units ahead of Tata and the gap in Market Share was a meager 0.7%.
Tata Motors reported overall dispatches of 47,170 units in August 2022. The EV dispatches were 3,875 units and grew by 276% over August 2021.
M&M reported YoY growth of 87.6% and strengthened its position in the fourth spot.
Kia India grew over 33% YoY backed by the strong sales momentum of its models. Seltos led the monthly volumes with 8,652 units, followed by Sonet at 7,838 units, Carens at 5,558 units, and Carnival at 274 units respectively.
Skoda India has achieved record volumes, becoming the third largest market for the brand globally, after Germany and the Czech Republic. In the first 8 months of CY2022, Skoda India sold 37,568 units which is the brand’s best-ever sales performance since 2012 when it sold 34,678 units. In August 2022, the carmaker registered a growth of 10% compared to the previous year with total sales of 4,222 units.
Market Share Graph for August 2022 –