Maruti, Hyundai & Tata sales fall, Mahindra & Toyota gain in June
The Indian automotive industry has witnessed a mixed bag of fortunes in June, with Maruti Suzuki, Hyundai Motor India, and Tata Motors registering a decline in sales, while Mahindra & Mahindra and Toyota Kirloskar Motor reported growth.
According to data released by the companies, Maruti Suzuki saw a year-on-year (YoY) decline across all segments except mid-size sedans, with a 13% decline in domestic passenger vehicle sales. The company sold 1,32,663 units in June 2022, compared to 1,52,438 units in the same month last year.
Hyundai Motor India also recorded a 12% YoY decline in domestic dispatches, selling 43,000 units in June 2022, down from 48,700 units in June 2021. The company’s passenger car sales declined by 14%, while its utility vehicle sales dropped by 10%.
Tata Motors, another major player in the Indian automotive market, posted a 15% YoY drop in passenger vehicle sales, selling 26,032 units in June 2022, compared to 30,624 units in June 2021. The company’s commercial vehicle sales, however, remained stable, with a 1% growth in June 2022.
On the other hand, Mahindra & Mahindra, one of the largest utility vehicle manufacturers in the country, saw a significant 18% YoY increase in utility vehicle sales, selling 22,342 units in June 2022, up from 18,864 units in June 2021. The company’s overall passenger vehicle sales grew by 6% in June 2022, compared to the same month last year.
Toyota Kirloskar Motor, another Japanese automaker operating in India, reported a 5% YoY sales increase in June 2022, selling 10,851 units, up from 10,344 units in June 2021. The company’s Innova Crysta and Fortuner models contributed significantly to the growth, with a combined sales growth of 23%.
The decline in sales of Maruti Suzuki, Hyundai Motor India, and Tata Motors can be attributed to various factors, including the ongoing semiconductor shortage, which has affected production and supply chain operations. Additionally, the ongoing COVID-19 pandemic has also impacted consumer confidence and purchasing power, leading to a decline in demand.
Despite these challenges, Mahindra & Mahindra and Toyota Kirloskar Motor have managed to buck the trend and report growth in sales. This can be attributed to their strong product offerings, strategic marketing initiatives, and robust distribution networks.
In conclusion, the June sales data highlights the mixed fortunes of the Indian automotive industry. While Maruti Suzuki, Hyundai Motor India, and Tata Motors have reported a decline in sales, Mahindra & Mahindra and Toyota Kirloskar Motor have managed to grow their sales. As the industry continues to navigate the challenges posed by the semiconductor shortage and the ongoing pandemic, it will be interesting to see how these trends play out in the coming months.
