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Around 2,92,883 passenger cars were sold in the Indian market for September 2020. The sales increased by an impressive 31.4% in Sep’20 v/s Sep’19.
It is encouraging to see the Indian Passenger Vehicle industry recording double digit growth successively. After a 19.6% YoY growth in Aug (source); the industry has registered a staggering 31.4% growth in Sep’20. This is mainly pushed by the stocking at the dealer level for festivities (Dusshere/Diwali) and also increased retail sales momentum. However; the dealer channel needs to be cautious as the year end is approaching soon and lot of money can be lost in unsold inventory. We shall anyhow wait for the FADA retail sales data to assess the situation better.
OEM-wise Sales Snapshot for September 2020 –
Tata Motors is on a dream run from the past few months. It grew a phenomenal 142% YoY and the growth was one of the highest in the Industry! Tata Motors also recorded the highest Market Share growth in Sep’20 (it jumped from 3.9% in Sep’19 to 7.2% in Sep’20).
Kia Motors India volumes shot up almost 2.5 times in Sep’20 v/s Sep’19! The launch of the new Compact SUV Sonet helped Kia to record its highest monthly sales in India since inception. Kia also was able to project the highest YoY growth in the Indian market which helped its market share increase by 3%.
Maruti Suzuki is doing everything possible to hold its dominance. The OEM registered a YoY increase of 33.9% and was also able to improve its market share by 0.9% in Sep’20.
Even though Hyundai crossed 50k dispatches; its market share fell by -0.9%. Creta’s resounding success did help Hyundai grow – but it is still behind the Industry average.
Mahindra lost its No.3 spot to Tata & Kia by a huge margin. The Indian OEM is rapidly losing its share and is now all dependent on the upcoming launch of Thar. But; can Thar help M&M get back volumes?
MG registered a degrowth for the first time since launch! MG is now readying for the launch of the Gloster and hopes to gain back numbers.
Market Share Graph for September’20 –