Maruti, Hyundai & Tata sales fall, Mahindra & Toyota gain in June
The Indian auto industry has been facing a tough time in recent years, with sales declining due to various factors such as stringent emission norms, high fuel prices, and increasing competition. The latest sales figures for the month of June 2022 further reinforce this trend, with three major players in the industry – Maruti Suzuki, Hyundai Motor India, and Tata Motors – reporting a decline in sales. However, Mahindra & Mahindra and Toyota Kirloskar Motor bucked the trend by posting an increase in sales.
According to the latest data released by the companies, Maruti Suzuki, India’s largest automaker, saw a year-on-year (YoY) decline in domestic passenger vehicle sales of 13%. The company’s overall sales, including exports, dropped by 12.4% to 1,34,126 units in June 2022 compared to 1,53,053 units in the same month last year. Maruti Suzuki’s sales declined across all segments except mid-size sedans, which saw a 14.5% increase in sales.
Hyundai Motor India, another major player in the Indian auto market, recorded a 12% YoY decline in domestic dispatches in June 2022. The company’s overall sales, including exports, fell by 11.4% to 48,015 units in the month compared to 54,245 units in the same month last year. Hyundai’s sales declined across all segments, including passenger cars, SUVs, and commercial vehicles.
Tata Motors, which has been struggling to regain its footing in the Indian auto market, posted a 15% YoY drop in passenger vehicle sales in June 2022. The company’s overall sales, including exports, fell by 13.1% to 33,423 units in the month compared to 38,514 units in the same month last year. Tata Motors’ sales declined across all segments, including passenger cars, SUVs, and commercial vehicles.
However, not all companies reported a decline in sales. Mahindra & Mahindra, India’s largest utility vehicle manufacturer, saw an 18% YoY increase in utility vehicle sales in June 2022. The company’s overall sales, including exports, rose by 14.5% to 34,124 units in the month compared to 29,882 units in the same month last year. Mahindra & Mahindra’s utility vehicle sales were driven by the success of its SUVs, including the XUV700 and the Thar.
Toyota Kirloskar Motor, which has been gaining momentum in recent months, reported a 5% YoY sales increase in June 2022. The company’s overall sales, including exports, rose by 4.5% to 12,138 units in the month compared to 11,622 units in the same month last year. Toyota Kirloskar Motor’s sales were driven by the success of its SUVs, including the Fortuner and the Innova Crysta.
The decline in sales reported by Maruti Suzuki, Hyundai Motor India, and Tata Motors can be attributed to various factors, including the ongoing semiconductor shortage, which has affected production levels across the industry. Additionally, the companies may have also faced challenges in terms of supply chain disruptions, dealership inventory levels, and consumer sentiment.
On the other hand, Mahindra & Mahindra and Toyota Kirloskar Motor’s sales growth can be attributed to their focus on SUVs, which have been in high demand in recent times. Both companies have been successful in launching new products in this segment, which has helped them to gain market share.
In conclusion, while Maruti Suzuki, Hyundai Motor India, and Tata Motors reported a decline in sales in June 2022, Mahindra & Mahindra and Toyota Kirloskar Motor bucked the trend by posting an increase in sales. The companies’ sales performance in the coming months will be influenced by various factors, including the semiconductor shortage, supply chain disruptions, and consumer sentiment.
