Around 3,41,112 passenger cars were sold in the Indian market for July 2022. The sales increased by over 15% when compared to July last year. The industry recorded its highest monthly volume in July'22 for 2022! It also crossed the 3 Lakh dispatch figure for the fourth month in this calendar year.
Tata Motors and Toyota India recorded their ever-highest monthly sales volumes! The increased dispatches is a sign of easing semiconductor supply and OEM's ability to manufacture more cars. The increased dispatches is also part of OEMs' strategy to have adequate stock for the festive season. Aug'22 will have 2 major festivals - Onam (the biggest festival in Kerala) and Ganesh Chaturthi (celebrated majorly in West & South India).
We saw Toyota unveiling the Hyryder and Nexa showcasing the Grand Vitara. Both the models will enter the highly competitive Mid SUV space which is currently dominated by Koreans (Creta & Seltos). We also saw Mahindra's All New ScorpioN being open for bookings and the model raked an unbelievable 1 Lakh bookings on the first day itself! The Indian Auto Industry is all set for a bumper festive season and going by the increased production capacity the Industry may clock an all-time high yearly sales volume in 2022!
Maruti Suzuki reported YoY growth of 6.8%, while the Industry grew by almost 16%. Hence, Maruti lost Market Share of over 3.5%.
Hyundai is now being regularly challenged by Tata Motors for the second spot. Hyundai was just 2.9k units ahead of Tata and the gap in Market Share was a meager 0.9%.
Tata Motors posted its highest every month sales in the month of July 2022 at 47,505 units, which helped the OEM record a YoY growth in sales of 57%, as compared to the same month last year. Tata Motors claimed that its SUVs constitute 64% of total sales, with a YoY growth of 105% over July 2021!
M&M is seeing strong demand for its models – XUV300, Thar, XUV700 and is gearing up to begin deliveries of the Scorpio-N. The Indian auto major reported YoY growth of 34% and strengthened its position in the fourth spot.
Kia India grew over 46% YoY backed by the strong sales momentum of its models. Seltos & Sonet contributed to the majority of Kia India's volumes with 40% & 33% share, while Carens contributed over 25%.
Toyota India reported over 50% YoY growth in dispatches for the month of July 2022 reporting sales of 19,693 units. The OEM said that the numbers were its highest ever in a month since it commenced operations in India and up 19.3% from its sales in June 2022 when it sold 16,512 units.
Market Share Graph for July 2022 –