Around 2,75,130 passenger cars were sold in the Indian market in December 2022. The sales increased by over 8% when compared to December last year and the industry dropped by 14.6% in comparison to November 2022.
December is usually a low despatch month for the automakers considering the model year change from January next year and the prime focus of OEMs/dealers is to liquidate the existing stocks. The despatches fell short of the 3L mark by a small margin. The OEMs that primarily recorded a YoY degrowth were Maruti, Toyota, Honda, Nissan & Jeep. Maruti Suzuki also saw the heaviest decline in Market Share. Tata was able to supersede Hyundai's volumes yet again in Dec this year and placed itself in the second spot. M&M registered the highest gain in Market Share and was miles ahead of Kia for the fourth position.
2022 was a landmark year for the Indian Passenger Vehicle industry and reported the all-time highest annual volume. We shall be presenting a detailed report on CY2022 performance later.
Maruti saw a YoY decline of 8.9% and MoM decline of 15.4%. The OEM also lost 7.7% Market Share in Dec'22 when compared to Dec'21.
Tata moved up to the second slot on the OEM-wise ranking and ended December with the best-ever annual wholesales performance in CY2022 with 5,26,798 units.
Hyundai's sales in Dec 2022 stood at 38,831 units, up 20.2% from 32,312 units sold in Dec 2021. Market share went up to 14.1% from 12.7% YoY relating to a 1.4% growth.
Mahindra strengthened its position in the fourth spot and also improved its Market Share to >10% in Dec'22.
Kia ranked fifth and was able to cross 15k units in Dec'22.
Market Share Graph for December 2022 –