Car Sales November 2023: Maruti’s Strong Performance Rivals Combined Sales of Hyundai, Tata, and Mahindra

Car Sales November 2023

In November, the domestic passenger vehicle (PV) industry showcased a remarkable performance, marked by robust sales from the sport utility vehicle (SUV) segment. Notably, Maruti Suzuki India, the nation’s largest carmaker, achieved a volume in the domestic market that nearly equaled the combined volume of Hyundai Motor India, Tata Motors, and Mahindra & Mahindra.

The industry achieved an all-time high November volume of 335,354 units, marking a 3.95% year-on-year (y-o-y) increase compared to the record set in the same month last year, which was 322,600 units.

Maruti Suzuki’s outstanding performance in November is underscored by its domestic PV volume of 134,158 units, reflecting a 1.33% y-o-y growth. Notably, Maruti had seven models—Swift, WagonR, Baleno, Brezza, Dzire, Ertiga, and Eeco—among the top 10 best-selling cars in India during the month.

The combined domestic PV volume of Hyundai, Tata, and Mahindra totaled 135,500 units in November, marginally surpassing Maruti’s volume by only 1,342 units. Maruti’s Senior Executive Officer for Marketing and Sales, Shashank Srivastava, attributed this success to improved semiconductor availability leading to higher production, coupled with the positive impact of the festive season in the first half of November.

Highlighting the pivotal role of the SUV segment, Srivastava mentioned that it contributed significantly to the PV volume, accounting for 178,598 units and a share of 53.26%.

In terms of market share, Maruti’s dominance was evident across segments, standing at 69.2% in hatchbacks, 53% in sedans, 55% in multi-purpose vehicles (MPVs), 95% in vans, and 20.2% in SUVs. Cumulatively, the carmaker secured a 65% share in the non-SUV segment.

Hyundai Motor India reported a 3.02% y-o-y increase in domestic PV wholesale despatches, reaching 49,451 units in November. Tarun Garg, the company’s COO, noted encouraging customer response and higher retail sales during the festive season, emphasizing that the dealer network’s stock level is optimally maintained at three weeks.

Tata Motors experienced stable domestic PV volume at 46,068 units in November, while Mahindra recorded a robust 32.22% y-o-y growth, selling 39,981 units. Veejay Nakra, President of the Automotive Division at Mahindra, acknowledged strong demand for their SUV portfolio but highlighted supply challenges on select parts during the month. Nakra assured that the company is closely monitoring the situation and implementing necessary measures to mitigate challenges.

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