Maruti, Hyundai & Tata sales fall, Mahindra & Toyota gain in June
The month of June has brought mixed fortunes to the Indian auto industry, with some major players experiencing a decline in sales while others have reported a rise. The latest sales data reveals that Maruti Suzuki, Hyundai Motor India, and Tata Motors have witnessed a decline in their sales figures, whereas Mahindra & Mahindra and Toyota Kirloskar Motor have bucked the trend by reporting an increase in their sales.
According to the latest data, Maruti Suzuki, the largest car manufacturer in India, has seen a year-on-year (YoY) decline of 13% in its domestic passenger vehicle sales. The company’s sales figures for June 2022 stood at 1,07,559 units, down from 1,23,512 units sold in June 2021. The decline was across all segments, except for mid-size sedans, which saw a marginal growth of 2%.
Hyundai Motor India, another major player in the Indian auto market, recorded a YoY decline of 12% in its domestic dispatches. The company sold 42,501 units in June 2022, compared to 48,351 units sold in June 2021. This decline is attributed to a slowdown in demand for passenger vehicles, which has been a trend in the Indian market for some time now.
Tata Motors, the third-largest car manufacturer in the country, has also reported a decline in its passenger vehicle sales. The company saw a YoY drop of 15% in its passenger vehicle sales, with 22,373 units sold in June 2022, compared to 26,242 units sold in June 2021.
On the other hand, Mahindra & Mahindra, the largest SUV manufacturer in the country, has bucked the trend by reporting an 18% YoY increase in its utility vehicle sales. The company sold 25,445 units of its utility vehicles, including the XUV300, XUV500, and Scorpio, in June 2022, compared to 21,544 units sold in June 2021.
Toyota Kirloskar Motor (TKM), the Indian arm of the Japanese automaker, has also reported a positive sales growth. The company saw a 5% YoY increase in its sales, with 12,271 units sold in June 2022, compared to 11,667 units sold in June 2021. This growth is attributed to the success of its popular models, such as the Innova Crysta and Fortuner.
The decline in sales of Maruti Suzuki, Hyundai Motor India, and Tata Motors can be attributed to various factors, including a slowdown in demand for passenger vehicles, increased competition in the market, and a decline in consumer sentiment. The decline in demand for passenger vehicles has been a trend in the Indian market for some time now, and it is expected to continue in the near future.
On the other hand, the growth in sales of Mahindra & Mahindra and Toyota Kirloskar Motor can be attributed to their focus on the SUV segment, which has been a growing trend in the Indian market. The success of their popular SUV models, such as the XUV300 and Innova Crysta, has contributed to their sales growth.
In conclusion, the Indian auto industry has witnessed a mixed bag of results in June, with some major players experiencing a decline in sales while others have reported a rise. The decline in sales of Maruti Suzuki, Hyundai Motor India, and Tata Motors can be attributed to various factors, including a slowdown in demand for passenger vehicles and increased competition in the market. On the other hand, the growth in sales of Mahindra & Mahindra and Toyota Kirloskar Motor can be attributed to their focus on the SUV segment and the success of their popular models.
