July 2023 Car Sales – Snapshot

Around 3.52 Lakh passenger cars were sold in the Indian market in July 2023. The sales increased by over 3% when compared to July last year and shot up by 7.4% in comparison to June 2023.

The festive season shall start from the Southern part of India with Onam in August 2023. OEMs shall have increased the stock levels before the onset of festivities and hence increased dispatches. Also, July'23 witnessed the start of dispatches of new models (Exter, Invicto, New Seltos, etc). H2 2022 had a high base and it shall be difficult for OEMs to match the numbers of the previous year. However, hopes are pinned on new model launches to match the volumes or even supersede it.

• Maruti Suzuki dispatched 1,52,126 units in July 2023, an 6.5% YoY increase and a 14.4% MoM increase. New models like Fronx, Jimny, and Invicto have largely led to the growth and market share gain for MSIL.

• Hyundai reported wholesales of 50,701 units, which is a 0.4% increase YoY over July'22 50,500 units. It is the fourth month in 2023 that Hyundai would have surpassed the 50k mark. Hyundai had a successful launch of the Exter in July'23 and is looking forward to widening the gap with Tata Motors.

• Tata Motors dispatched a total of 47,630 units, which is a 0.3% YoY increase, and an increment of 0.8% MoM.

• Mahindra reported wholesales of 36,205 units in July 2023, which is a 30.4% YoY increase, and 11.1% up from June 2023.

• Toyota reported its highest-ever monthly sales at 20,759 units in July 2023, up from 19,693 units in July 2022, an increase of 5.4 percent.

Market Share Graph of July 2023 -