Maruti, Hyundai & Tata sales fall, Mahindra & Toyota gain in June
The Indian automobile industry has been witnessing a decline in sales for some time now, and the trend continued in June as well. The latest data released by the Society of Indian Automobile Manufacturers (SIAM) reveals that Maruti Suzuki, Hyundai Motor India, and Tata Motors saw a decline in sales, while Mahindra & Mahindra and Toyota Kirloskar Motor reported an increase.
Maruti Suzuki, the country’s largest automaker, saw a YoY (year-on-year) decline in domestic passenger vehicle sales of 13%. The company’s sales declined across all segments except mid-size sedans, which saw a growth of 4.5%. Maruti’s sales of compact SUVs, hatchbacks, and utility vehicles all declined.
Hyundai Motor India, the second-largest automaker in the country, recorded a 12% YoY decline in domestic dispatches. The company’s sales declined across all segments, with compact SUVs and hatchbacks seeing the steepest decline.
Tata Motors, another major automaker, posted a 15% YoY drop in passenger vehicle sales. The company’s sales declined across all segments, with compact SUVs and hatchbacks seeing the steepest decline.
On the other hand, Mahindra & Mahindra, the country’s largest SUV maker, saw a significant increase in sales. The company’s utility vehicle sales grew by 18% YoY, driven by strong demand for the XUV500, XUV300, and Thar.
Toyota Kirloskar Motor, the Japanese automaker’s Indian subsidiary, reported a 5% YoY increase in sales. The company’s sales were driven by strong demand for the Innova Crysta and Fortuner, which are popular in the SUV segment.
The decline in sales for Maruti, Hyundai, and Tata can be attributed to various factors, including the ongoing economic slowdown, high fuel prices, and the transition to stricter emission norms. The sales decline has also been exacerbated by the COVID-19 pandemic, which has affected consumer sentiment and reduced demand.
On the other hand, Mahindra’s growth can be attributed to its strong product lineup, which includes popular utility vehicles like the XUV500 and XUV300. The company’s focus on developing new products and expanding its dealership network has also helped it to gain market share.
Toyota’s growth, on the other hand, can be attributed to its strong brand reputation and the success of its SUV models like the Innova Crysta and Fortuner. The company’s focus on developing new products and expanding its dealership network has also helped it to gain market share.
In conclusion, the latest sales data from Maruti, Hyundai, Tata, Mahindra, and Toyota reveals a mixed picture. While Maruti, Hyundai, and Tata saw a decline in sales, Mahindra and Toyota reported an increase. The decline in sales for Maruti, Hyundai, and Tata can be attributed to various factors, including the ongoing economic slowdown, high fuel prices, and the transition to stricter emission norms. On the other hand, Mahindra’s growth can be attributed to its strong product lineup and focus on developing new products and expanding its dealership network. Toyota’s growth, on the other hand, can be attributed to its strong brand reputation and the success of its SUV models.
