Passenger vehicle sales crosses 2-million mark in H1 2023

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Updated – October 01, 2023 at 10:17 PM.
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New Delhi

Maruti leads the market with more than a million sales

MSIL reported a year-on-year (y-o-y) growth of 1.63 per cent in its domestic sales
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SHAH

The domestic wholesale of passenger vehicles (dispatches to dealers) crossed two million for the first time in history between April and September (six months). Maruti Suzuki India (MSIL) led with more than one million sales during this period.

“In the first half (H1), which is the April to September period, the industry figure is at 20,72,957 or 2.07 million. This also marks the first time that the two-million number has been cracked, and that marks a growth of 7 per cent over last year. Last year’s number was 1.93 million. We also had the biggest ever H1 marking the first time that the industry has crossed the two-million mark in half year,” Shashank Srivastava, Senior Executive Officer, MSIL, told reporters.

4-million mark

Interestingly, in the January-September period, the figure for the industry crossed the three-million mark, this is also the highest ever. “This means, we are on course to reach the four-million plus mark both for both financial as well as calendar year,” he added.

In the monthly sales, MSIL reported year-on-year (y-o-y) growth of 1.63 per cent in its domestic sales to 1,50,812 units in September as compared with 1,48,380 units in the corresponding month last year.

For the period between April and September, the company recorded sales of 10,50,085 units, surpassing the one-million (10 lakh) mark for the first time in history.

Hyundai upbeat

In the monthly sales, country’s second largest passenger carmaker Hyundai Motor India (HMIL), registered domestic wholesale (dispatches to dealers) of 54,241 units in September, a growth of 9.13 per cent year-on-year (y-o-y) compared with 49,700 units in corresponding month last year.

“In September 2023, HMIL has achieved its highest ever total monthly sales since inception marking a key milestone in the brand’s history. The ongoing festive season has resulted in a strong sales momentum, helping us achieve more than 9 per cent growth y-o-y in domestic sales in September,” Tarun Garg, Chief Operating Officer, HMIL said.

He said the company’s strong SUV portfolio, has received a further boost with the exceptional customer response to the newly launched Exter. SUVs now contribute to more than 65 per cent of HMIL’s domestic sales.

Similarly, Mahindra & Mahindra (M&M) reported domestic sales of 41,267 units in September, up 20 per cent y-o-y compared with 34,508 units in the same month in the previous year. “While demand for our key SUV brands continue to be strong, we are keeping a close watch on the availability of semi-conductors and select components to meet the strong festive season demand,” Veejay Nakra, President, Automotive Division, M & M, said.

Toyota Kirloskar Motor (TKM) also registered yet another remarkable month of performance, selling 22,168 units in the domestic market, as compared with 15,378 units in corresponding month last year.

Another Japanese subsidiary, Honda Cars India also reported domestic sales of 9,861 units during the month, a growth of more than 13 per cent y-o-y against 8,714 units in September 2022.

Yuichi Murata, Director, Marketing and Sales at Honda Cars India said, “Honda Cars India is amid an exciting phase with the launch of the all-new Honda Elevate. The new SUV has emerged as a frontrunner and is contributing significantly to the sales momentum during this festive season. The Honda City and Amaze also continue to perform well in their respective segments.”

The auto industry is experiencing strong demand at the beginning of the festive season and with an extended festive period this year, the company expects this momentum to continue, which is very encouraging, he added.

MG Motor India also reported a growth of 31 per cent y-o-y in its retail sales to 5,003 units in September as compared with 3,808 units in September 2022.

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