Around 3,22,070 passenger cars were sold in the Indian market in November 2022. The sales increased by over 31% when compared to November last year and the industry dropped by 4.2% in comparison to October 2022. It also crossed the 3 Lakh dispatch figure for the eighth month in this calendar year. November 2022 was also the sixth month in a row that despatches have driven past the 3 Lakh unit count!
November is a dull month for the automotive industry as there is no festivity and the majority of consumers wait for December to avail year-end offers. There are no new model launches as well in November to avoid year-change hassles. However, owing to increased production levels and pending backorders, the Industry managed to report significant growth over the same period last year. However, despatches fell by 4.2% when compared to Oct'22.
Maruti Suzuki reported YoY growth of 20.7% and Maruti's Market Share remains at just near 41%. However, the OEM is already operating at 90% manufacturing capacity. It is also aggressively expanding its CNG portfolio. It recently introduced CNG in the Nexa channel with Baleno and XL6 getting the CNG variants. Maruti Suzuki now has a total of 12 models with the CNG option!
Hyundai crossed 48k despatches and was able to maintain its Market Share. Hyundai is also poised to achieve the highest-ever domestic sales in 2022 since its inception in India!
Tata Motors reported wholesales of 46,040 units in November 2022 and recorded a Market Share of 14.3%. Tata is now regularly tailing Hyundai for the second spot and was just 1,962 units behind the Korean auto major.
M&M reported YoY growth of 56% and strengthened its position in the fourth spot.
Kia India recorded its third best month ever with despatches of 24,025 units in Nov'22. Seltos was the bestseller for Kia with despatches of 9,284 units, followed by the Sonet at 7,834 units, Carens at 6,360 units, and Carnival at 419 units. The OEM also delivered 128 units of the Electric EV6.
Citroen ranked last and fell below Jeep's volumes in November 2022!
Market Share Graph for November 2022 –