Maruti, Hyundai & Tata sales fall, Mahindra & Toyota gain in June
The Indian auto industry has witnessed a mixed bag of results in June, with some major players reporting a decline in sales, while others have managed to buck the trend. Maruti Suzuki, Hyundai Motor India, and Tata Motors have seen a significant drop in their sales, whereas Mahindra & Mahindra and Toyota Kirloskar Motor have reported an increase.
Maruti Suzuki, the largest automaker in India, has seen a year-on-year (YoY) decline across all segments except mid-size sedans. The company’s domestic passenger vehicle sales declined by 13% in June compared to the same period last year. Maruti’s total sales in June stood at 1,23,561 units, down from 1,41,519 units in June 2022.
Hyundai Motor India, another major player in the Indian auto market, recorded a 12% YoY decline in domestic dispatches in June. The company’s sales in June 2022 stood at 43,011 units, down from 48,924 units in June 2022.
Tata Motors, the third-largest automaker in India, posted a 15% YoY drop in passenger vehicle sales in June. The company’s total sales in June stood at 34,476 units, down from 40,541 units in June 2022.
However, not all companies have reported a decline in sales. Mahindra & Mahindra, the largest utility vehicle manufacturer in India, saw an 18% YoY increase in utility vehicle sales in June. The company’s total sales in June stood at 33,452 units, up from 28,344 units in June 2022.
Toyota Kirloskar Motor, the Japanese automaker’s Indian arm, reported a 5% YoY sales increase in June. The company’s total sales in June stood at 12,172 units, up from 11,534 units in June 2022.
The decline in sales of Maruti, Hyundai, and Tata Motors can be attributed to several factors, including the ongoing semiconductor shortage, which has affected production and supply chains. Additionally, the rising prices of raw materials and components have made it difficult for automakers to maintain their prices, 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 the company’s strong product lineup. Toyota Kirloskar Motor’s sales increase can be attributed to the company’s strong brand presence and the popularity of its models such as the Innova Crysta and Fortuner.
In conclusion, the Indian auto industry has witnessed a mixed bag of results in June, with some major players reporting a decline in sales, while others have managed to buck the trend. Maruti Suzuki, Hyundai Motor India, and Tata Motors have seen a significant drop in their sales, whereas Mahindra & Mahindra and Toyota Kirloskar Motor have reported an increase.
