Maruti, Hyundai & Tata sales fall, Mahindra & Toyota gain in June
The Indian automotive industry has witnessed a mixed bag of performance in June 2022, with some of the leading players reporting a decline in sales, while others have bucked the trend. Maruti Suzuki, Hyundai Motor India, and Tata Motors have seen a significant decline in their sales figures, whereas Mahindra & Mahindra and Toyota Kirloskar Motor have reported an increase in their sales.
According to the latest data, Maruti Suzuki, the largest carmaker in the country, saw a year-on-year (YoY) decline of 13% in its domestic passenger vehicle sales in June. This decline is across all segments, except for mid-size sedans, which have seen a marginal increase. The company’s total sales, including exports, stood at 1,04,439 units in June, down 11.7% YoY.
Hyundai Motor India, another leading player, recorded a 12% YoY decline in its domestic dispatches in June. The company sold 46,500 units in the domestic market, down from 52,700 units in the same period last year. Hyundai’s total sales, including exports, stood at 53,400 units in June.
Tata Motors, which has been struggling in recent times, posted a 15% YoY drop in its passenger vehicle sales in June. The company sold 24,300 units in the domestic market, down from 28,500 units in the same period last year. Tata Motors’ total sales, including commercial vehicles, stood at 43,500 units in June.
On the other hand, Mahindra & Mahindra, the largest utility vehicle (UV) manufacturer in the country, saw an 18% YoY increase in its utility vehicle sales in June. The company sold 24,400 units of UVs in the domestic market, up from 20,600 units in the same period last year. Mahindra & Mahindra’s total sales, including commercial vehicles, stood at 33,400 units in June.
Toyota Kirloskar Motor, another leading player, reported a 5% YoY increase in its sales in June. The company sold 12,200 units in the domestic market, up from 11,600 units in the same period last year. Toyota Kirloskar Motor’s total sales, including exports, stood at 13,400 units in June.
The decline in sales at Maruti Suzuki, Hyundai Motor India, and Tata Motors can be attributed to a number of factors, including the ongoing semiconductor shortage, which has affected production and supply chain management. Additionally, the recent increase in fuel prices and the rising cost of living may have also impacted consumer sentiments, leading to a decline in demand.
On the other hand, Mahindra & Mahindra’s increase in utility vehicle sales can be attributed to the growing demand for SUVs and UVs in the country. The company’s portfolio of SUVs and UVs, including the XUV300, XUV500, and Alturas G4, has been a huge success, and the company’s focus on these segments has paid off.
Toyota Kirloskar Motor’s increase in sales can be attributed to its strong brand reputation and the growing demand for its models, including the Innova Crysta and Fortuner.
In conclusion, while Maruti Suzuki, Hyundai Motor India, and Tata Motors have seen a decline in their sales figures, Mahindra & Mahindra and Toyota Kirloskar Motor have bucked the trend and reported an increase in their sales. The Indian automotive industry is going through a challenging phase, but players that have a strong brand reputation, a diverse portfolio, and a focus on the right segments are likely to emerge stronger.
