Around 2,94,087 passenger cars were sold in the Indian market for May 2022. The sales increased 185% when compared to May last year. The spike is due to low base last year which was primarily impacted due to Covid-19 induced restrictions. However, the Industry remained flat when compared to April 2022 and is still grappling with semiconductor supplies.
Tata Motors has startled all with consistent sales and overtakes Hyundai India volumes for the second time in the past 6 months! Tata Motors recorded its all time highest monthly Passenger Vehicle sales & Electric Vehicle sales in May 2022. Do note that EVs contributed near to 8% of Tata Motors overall PV sales in May 2022!
Skoda & VW are firing up the Executive Sedan segment and have able to garner 4,643 units dispatches collectively in May'22. Both the models have surely got attention from enthusiasts - However; only time can tell if it can consistently deliver on volumes.
May'22 also saw Kia India unveiling its most futuristic model in the global portfolio - The EV6. The car is slated to be launched today and limited numbers are allotted for Indian market in 2022. EVs are slowly catching the fancy of OEMs and we expect good number of EV models to be launched in coming 2-3 years.
Maruti Suzuki gained over 10.4% Market Share May 2022 when compared to May last year. Do note that Maruti Suzuki had Maintenance Plant shutdown in May'21 and thus the spike in dispatches. However; the Market Share is still way below 50% and settled at 42.3% MS in May'22.
Tata continues to perform well (source) and has been able to finally rise to the No.2 position in May'22. The OEM is now consistently vying 15% Market Share and the availability of its models amidst semiconductor shortage has strengthened Tata's hold.
Hyundai lost near to 10% Market Share in May'22 v/s May'21 and slipped to the third position in the OEM ranking.
Mahindra continues to dominate over Kia for the fourth spot and gained 1.6% Market Share in May2022.
Kia India ranked fifth in the table and the launch of Carens couldn't give the required boost to jump at the fourth position. The OEM seems to still struggle to the get the production onboard as per the customer demand.
Kia initiated the dispatches of the EV6 in May 2022 and 15 units were shipped to the dealerships (seems to be the display cars).
Toyota recorded one of the highest Month-on-Month drops in terms of dispatches and registered Wholesale of 10,216 units in May'22. It was anyhow able to supersede Honda's volumes last month.
Honda India registered 8,188 units of domestic sales in May'22. Honda recently launched the New City e:HEV and received encouraging initial response. It will be interesting to see how Honda capitalizes on the launch and gives stiff competition to Slavia/Virtus.
Market Share Graph for May 2022 –