NEW DELHI: On the back of robust demand for sports utility vehicles (SUVs), carmakers such as Hyundai Motor India, Mahindra & Mahindra (M&M) and Toyota Kirloskar reported their highest-ever monthly sales in September 2023.
Also, there has been growth in monthly dispatches from original equipment manufacturers (OEMs) as they are stacking up inventory in dealer showrooms in anticipation of a strong festive season.
India’s top carmaker Maruti Suzuki (MSIL) witnessed sales growth in September 2023. However, Tata Motors registered a slump in monthly dispatches last month. Hyundai registered its highest-ever total sales of 71,641 units in September 2023. Total sales include domestic sales of 54,241 units and exports of 17,400 units. Tarun Garg, COO, of Hyundai Motor India, said, “The ongoing festive season has resulted in a strong sales momentum, helping us achieve more than 9% growth YoY in domestic sales in September 2023.” He added, “SUVs now contribute to more than 65% of our domestic sales.” Hyundai’s SUV line-up includes Creta, Venue, Exter and Alcazar, among others.
Mahindra has sold 41,267 vehicles in the domestic market, and overall, 42,260 vehicles, including exports. Veejay Nakra, President of, Automotive Division, M&M Ltd said, “We are excited to achieve our highest-ever sales of SUVs for the third consecutive month. While demand for our key SUV brands continues to be strong, we are keeping a close watch on the availability of semiconductors and select components to meet the strong festive season demand.” Mahindra’s top SUVs include models such as Thar, XUV700 and Scorpio N.
Toyota, riding on the success of Hyryder and Innova Hycross, said that its total sales stood at 23,590 units in September 2023, up 15% y-o-y, and this is its highest ever for a month. MSIL’s total domestic passenger vehicle sales in September 2023 stood at 150,812 units, a marginal growth from 148,380 units sold in the same month last year. Maruti’s total sales, including LCV, export and dispatched to other OEMs, stood at 181,343 units. While demand for its mini and compact cars fell sharply from 101,750 units in September 2022 to 78,903 units last month, its utility vehicle volume doubled year-on-year to 59,271 units in September 2023.
Tata Motors’ total domestic PV sales fell 6% y-o-y in September to 44,809 units. Shailesh Chandra, Managing Director of Tata Motors Passenger Vehicle said, “We had proactively reduced supplies of the outgoing models this quarter to enable a smooth transition to the new generation models. Going forward, with deliveries commencing of our exciting new generation products, we expect stepped-up volumes in this festive season and beyond.”
Honda Cars India also benefited from the launch of its Elevate SUV. Honda registered monthly domestic sales of 9,861 units in September 2023, up 13% year-on-year. Yuichi Murata, Director, of Marketing and Sales at Honda Cars said, “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.”