Over 3.15 lakh cars were retailed in Aug 2023 – Leading the sales charts were Maruti, Hyundai and Tata Motors
The Federation of Automobile Dealers Associations (FADA) has released its retail sales data for August 2023, revealing a significant uptick in car sales across India. The data, collected in collaboration with the Ministry of Road Transport & Highways, Government of India, and encompassing 1,352 out of 1,438 Regional Transport Offices (RTOs), demonstrates a promising trend in the country’s automotive sector.
Car Retail Sales Aug 2023 – Maruti Takes the Lead
Maruti Suzuki, one of India’s leading car manufacturers, maintained its stronghold on the market, recording robust retail sales of 1,33,546 units in August 2023. This marks a notable 14.53% growth compared to the same period last year, with Maruti’s market share now standing at a formidable 42.37%. The automaker’s diverse range of vehicles continues to resonate with Indian consumers.
Hyundai, another automotive giant, witnessed a slight increase in sales, with 47,072 units sold in August 2023. Although the growth percentage was modest at 1.51%, Hyundai’s strong presence in the Indian market remains evident, claiming a 14.94% market share. Tata Motors reported retail sales of 39,107 units, experiencing a marginal 0.62% decrease compared to August 2022. Despite this dip, Tata retains a significant share of the market at 12.41%.
Mahindra, known for its robust SUVs and utility vehicles, demonstrated a remarkable growth rate of 29.99%, selling 30,989 units in August 2023. This surge catapulted Mahindra’s market share to 9.83%. Kia and Toyota, however, faced challenges in August 2023. Kia experienced a 10.25% decline in sales, with 18,269 units sold. Toyota, on the other hand, saw a positive growth of 9.49%, selling 17,186 units. Nevertheless, both manufacturers continue to hold substantial market shares at 5.80% and 5.45%, respectively.
Other Key Highlights
– Skoda VW posted a growth of 13.92%, selling 7,602 units.
– Honda encountered a substantial downturn with a 31.94% decrease in sales, recording 4,590 units sold.
– MG Motor India witnessed a 19.55% increase in sales, selling 4,104 units.
– Renault experienced a significant drop of 36.91%, selling 3,962 units.
– Luxury automakers Mercedes and BMW reported mixed results with minor fluctuations.
– Force Motors registered impressive growth, with a 73.08% increase in sales.
The Road Ahead
Overall, the Indian automotive industry exhibited resilience in August 2023, with a 6.53% year-on-year growth in car sales. This positive trend reflects the recovering consumer sentiment and a growing preference for personal mobility amid ongoing uncertainties.
The passenger vehicle (PV) market presents a mixed picture. New product launches and improved stock availability are positive factors, but high customer discount expectations and the impact of the Shraadh period may act as minor speed bumps.
As the industry navigates various challenges, including supply chain disruptions and changing consumer preferences, car manufacturers are focusing on innovative strategies to meet the evolving needs of Indian consumers. With the festive season approaching, carmakers are hopeful that the positive momentum in sales will continue, further propelling the Indian automotive sector toward a brighter future.
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