Around 3,08,593 passenger cars were sold in the Indian market for February 2021. The sales increased by 23.1% in Feb’21 v/s Feb’20.
It is encouraging to see the Indian Passenger Vehicle industry recording growth SEVEN months in succession now. After a 19.6% YoY growth in Aug (source), 31.14% growth in Sep’20 (source), 17.5% growth in Oct’20 (source), 8.8% growth in Nov’20 (source), 18% growth in Dec’20 (source) and 16% growth in Jan'21 (source) – the industry has registered over 23% YoY growth in Feb’21. Do note that the growth is also against a low base in last year due to the BS6 transition. However; a lot of fast-selling models are now commanding a waiting period of 2-9 months which is a very positive sign for the industry. Also, note that the Industry crossed 3 Lakh units dispatches for second consecutive month. The volumes would have been even better if supply issues weren't there due to semiconductor shortage.
OEM-wise Sales Snapshot for February 2021 –
Maruti Suzuki recorded a drop in Market Share again and lost -6.4% MS in Feb’21 v/s Feb’20. Maruti’s volumes grew 8.3% YoY against the Industry's growth of 23.1%.
Tata Motors continues its dream run and grew a phenomenal 119% YoY and the growth was one of the highest in the Industry! Tata Motors also recorded the highest Market Share growth in Dec’20 (it jumped from 5.0% in Feb’20 to 8.8% in Feb’21).
Kia Motors India volumes saw a 6.8% YoY increase and lost -0.8% Market Share. However; it managed to sneak the fourth position from M&M.
Hyundai grew a moderate 29% YoY and held to its Market Share by 0.8% v/s Last Year.
Nissan and MG now fight for the 10th rank on the table. Nissan registered the second-highest YoY growth of 312% and crossed 4k volumes for the second consecutive month. Do note that it was only in March 2018 when Nissan saw a Wholesale volume of 4,921 units and now it has crossed 4k volumes for Jan'21 & Feb'21.
With the New Compass; Jeep was able to grow over 65% YoY. Do note that FCA volumes is tentative.
Market Share Graph for February 2021 –