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Around 3,36,229 passenger cars were sold in the Indian market in October 2022. The sales increased by over 29% when compared to October last year and the industry dropped by 5.2% in comparison to September 2022. It also crossed the 3 Lakh dispatch figure for the seventh month in this calendar year!
Diwali & Dusshera were celebrated in the country last month and the volumes resonated the same. The dispatches for Grand Vitara and Hyryder were in full swing and both models combined sold over 11.4k units. The Passenger Car industry continues to be in green which is a positive sign.
However; we anticipate November 2022 to be a lean month citing the end of festivities and no new launches in the month. The OEMs would also go slow on despatches in Nov'22 to avoid piling up of stocks at the year-end at the dealerships.
Maruti Suzuki reported YoY growth of 28.8% and Maruti's Market Share remains at just near 42%.
Hyundai crossed 48k despatches and was able to maintain its Market Share.
Tata Motors reported wholesales of 45,220 units in October 2022 and recorded Market Share of 13.4%
M&M reported YoY growth of 60.9% and strengthened its position in the fourth spot. The launch of Scorpio-N has further strengthened Mahindra's position.
Do note that Citroen has superseded Jeep's volumes in October 2022!
Market Share Graph for October 2022 –
