Maruti, Hyundai & Tata sales fall, Mahindra & Toyota gain in June
The Indian auto industry has been witnessing a decline in sales for some time now, and the latest numbers for June 2022 are no exception. Maruti Suzuki, Hyundai Motor India, and Tata Motors have all reported a decline in sales, with Maruti Suzuki being the worst hit. On the other hand, Mahindra & Mahindra and Toyota Kirloskar Motor have bucked the trend and reported an increase in sales.
Maruti Suzuki, the largest automaker in India, saw a significant decline in sales across all segments except mid-size sedans. The company’s domestic passenger vehicle sales declined by 13% year-on-year (YoY) in June 2022. This is the fifth consecutive month of decline for Maruti Suzuki, which has been struggling to recover from the COVID-19 pandemic and the subsequent semiconductor shortage.
Hyundai Motor India, the second-largest automaker in India, also reported a decline in sales. The company’s domestic dispatches declined by 12% YoY in June 2022. Hyundai’s sales have been impacted by the decline in demand for passenger vehicles and the lack of new product launches.
Tata Motors, the third-largest automaker in India, also reported a decline in sales. The company’s passenger vehicle sales declined by 15% YoY in June 2022. Tata Motors’ sales have been impacted by the decline in demand for passenger vehicles and the lack of new product launches.
On the other hand, Mahindra & Mahindra, the fourth-largest automaker in India, reported an increase in sales. The company’s utility vehicle sales increased by 18% YoY in June 2022. Mahindra & Mahindra’s sales have been driven by the popularity of its SUVs and the increase in demand for commercial vehicles.
Toyota Kirloskar Motor, the fifth-largest automaker in India, also reported an increase in sales. The company’s sales increased by 5% YoY in June 2022. Toyota Kirloskar Motor’s sales have been driven by the popularity of its SUVs and the increase in demand for commercial vehicles.
The decline in sales for Maruti Suzuki, Hyundai Motor India, and Tata Motors can be attributed to several factors, including the decline in demand for passenger vehicles, the lack of new product launches, and the ongoing semiconductor shortage. The global semiconductor shortage has impacted the production of vehicles, leading to a decline in sales.
On the other hand, Mahindra & Mahindra and Toyota Kirloskar Motor have reported an increase in sales due to the popularity of their SUVs and the increase in demand for commercial vehicles. Mahindra & Mahindra’s utility vehicles, such as the Scorpio and the XUV500, have been popular among customers, leading to an increase in sales. Toyota Kirloskar Motor’s SUVs, such as the Fortuner and the Innova, have also been popular among customers, leading to an increase in sales.
Overall, the Indian auto industry has been struggling due to the decline in demand for passenger vehicles and the ongoing semiconductor shortage. However, some companies, such as Mahindra & Mahindra and Toyota Kirloskar Motor, have been able to buck the trend and report an increase in sales.
