Maruti, Hyundai & Tata sales fall, Mahindra & Toyota gain in June
The Indian automobile industry witnessed a mixed bag of sales performance in June, with Maruti Suzuki, Hyundai Motor India, and Tata Motors reporting a decline in sales, while Mahindra & Mahindra and Toyota Kirloskar Motor recorded an increase.
According to the latest sales data, Maruti Suzuki, India’s largest car manufacturer, saw a year-on-year (YoY) decline across all segments except mid-size sedans. The company’s domestic passenger vehicle sales fell by 13% YoY, with a total of 1,14,949 units sold in June. While the compact sedan segment saw a decline of 15.5% YoY, the mid-size sedan segment recorded a growth of 14.1% YoY.
Hyundai Motor India also reported a decline in its domestic sales, with a 12% YoY drop in dispatches. The company sold a total of 43,000 units in June, with the compact car segment experiencing a decline of 10.6% YoY.
Tata Motors, another major player in the Indian automobile industry, posted a 15% YoY drop in passenger vehicle sales. The company sold a total of 21,000 units in June, with the compact car segment experiencing a decline of 14.1% YoY.
On the other hand, Mahindra & Mahindra, India’s largest utility vehicle manufacturer, saw a significant increase in sales. The company’s utility vehicle sales grew by 18% YoY, with a total of 23,500 units sold in June. The company’s SUV portfolio, including the XUV500, XUV300, and Scorpio, contributed significantly to the growth.
Toyota Kirloskar Motor, another major automaker, reported a 5% YoY increase in sales. The company sold a total of 12,000 units in June, with the Innova Crysta and Fortuner contributing significantly to the growth.
The decline in sales for Maruti Suzuki, Hyundai Motor India, and Tata Motors can be attributed to various factors, including the ongoing competition in the Indian automobile market, increasing fuel prices, and the ongoing economic slowdown. The decline in sales of compact cars and hatchbacks, which are the most popular segments in the Indian market, also contributed to the decline.
On the other hand, Mahindra & Mahindra’s growth can be attributed to its strong portfolio of utility vehicles, which continue to be in high demand. The company’s focus on product innovation and its ability to adapt to changing market trends have also contributed to its growth.
Toyota Kirloskar Motor’s growth can be attributed to its strong brand reputation and its focus on product quality. The company’s focus on hybrid technology and its ability to offer a range of fuel-efficient vehicles have also contributed to its growth.
Overall, the June sales data highlights the challenges faced by the Indian automobile industry, including the ongoing competition and the economic slowdown. However, it also highlights the opportunities for growth and the need for automakers to adapt to changing market trends.
