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Around 3,20,487 passenger cars were sold in the Indian market for March 2021. The sales increased by 128% in Mar’21 v/s Mar’20. This was primarily due to the low base of Mar'20 as the nationwide lockdown was imposed in the country on 23rd March 2020.
We have hence included the Month-on-Month analysis from this month to get a much clear picture of the industry. The sales improved 3.9% in March 2021 when compared to Feb 2021 and is an encouraging sign.
The Indian Passenger Vehicle industry recorded growth EIGHT months in succession now. After a 19.6% YoY growth in Aug'20 (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),16% growth in Jan'21 (source) and 23.1% growth in Feb'21 (source) – the industry has registered over 128% YoY growth in Mar’21. Do note that the growth is also against a low base in last year due to the BS6 transition.
Also, note that the Industry crossed 3 Lakh unit dispatches for the THIRD consecutive month. The new launches (like Sonet, Magnite, Kiger, etc) have proved vital to renew fervor in the industry, and March being a financial year-end added to the rush. A lot of customers were rushing to the showrooms to make their purchases within Mar'21 to claim depreciation benefits (corporate buyers) and LTC benefit (government employees).
OEM-wise Sales Snapshot for March 2021 –
Maruti Suzuki recorded a drop in Market Share again and lost -8.6% MS in Mar’21 v/s Mar’20. Maruti’s domestic volumes grew 91.8% YoY against the Industry's growth of 128%.
Tata Motors continues its dream run and grew a phenomenal 422.5% YoY and the growth was one of the highest in the Industry! Tata Motors also recorded the highest Market Share growth in Mar’21 (it jumped from 4% in Mar’20 to 9.3% in Mar’21). Tata is now inching towards 10% Market Share!
Kia Motors India volumes saw a 122% YoY increase and 14.4% MoM increase. It lost -0.1% Market Share. However; it managed to retain the fourth position from M&M.
Hyundai grew a moderate 100% YoY and lost -2.3% Market Share in Mar'21 v/s Last Year.
Nissan and MG now fight for the 10th rank on the table. Nissan registered the YoY growth of 386% and crossed 4k volumes for the third consecutive month.
MG Motors recorded its all-time highest monthly volumes in the Indian market in March 2021 and saw its domestic volumes spike 264.2% YoY and 27.7% MoM. The OEM is doing everything possible to protect its turf from Tata (Harrier, Safari, Nexon EV).
With the New Compass; Jeep was able to grow over 734% YoY. It was also the highest volumes for FCA in the last 24 months!
Market Share Graph for March 2021 –
