The Federation of Automobile Dealers Associations (FADA) recently released Car Retail Sales data for November 2023 which provides insight into the performance of several car sectors. Across the board, there was notable growth in sales for 2-wheelers (2W), 3-wheelers (3W), and passenger vehicles (PV) with increases of 21 percent, 23 percent, and 17 percent, respectively. However, the tractor and commercial vehicle (CV) retail sales experienced a decline of 21 percent and 2 percent, respectively. The outstanding growth in the 2W and PV segments was particularly noteworthy, reaching all-time high figures. Despite this overall positive trend, rural purchases took a hit due to adverse weather conditions and untimely rains, impacting the Rabi crops.
Car Retail Sales Overview for November 2023
The total retail sales for cars in November 2023 reached 3,60,431 units, reflecting a substantial increase of 17.19 percent compared to the 3,07,550 units sold in November 2022. This also represented a month-on-month (MoM) growth of 1.82 percent from the 3,53,990 units sold in October 2023. Maruti Suzuki continued its dominance in the market securing a commanding 41.60 percent market share.
Leading Players in Car Retail Sales
Maruti Suzuki led the pack with retail sales of 1,49,929 units in November 2023, marking a significant growth of 24,574 units compared to the same period in 2022. The compact sector had better sales while the company saw a rise in demand for its utility cars. Hyundai also experienced growth, with retail sales climbing to 49,716 units in November 2023, up from 45,836 units in November 2022, despite a slight MoM decrease from October 2023. Hyundai currently holds a 13.79 percent market share and is gearing up for the launch of the 2024 Creta facelift compact SUV in January 2024, positioning itself against competitors like Tata Curvv and Mahindra XUV500.
Tata Motors reported impressive sales growth, reaching 53,539 units in November 2023, a year-on-year (YoY) increase from 41,177 units in November 2022 and the company’s market share also rose to 14.85 percent. Mahindra witnessed an uptick in retail sales to 38,933 units in November 2023 from 29,915 units in November 2022, commanding a 10.80 percent market share. Mahindra is gearing up for multiple launches in 2024, including the Thar 5-door, XUV300 facelift, and Bolero Neo Plus.
Kia’s Retail Sales Decline
Kia Motors reported a YoY decline in retail sales for November 2023, dropping to 19,885 units from 19,926 units in November 2022. Despite higher sales in October 2023 at 21,086 units, Kia holds a 5.52 percent market share. Kia India is set to introduce the Carnival MPV in 2024, following its showcase at the 2023 Auto Expo.
Growth Across Other Players
Several other automakers experienced YoY growth in retail sales in November 2023. Toyota’s sales improved to 16,567 units from 12,766 units Honda’s sales went up to 8,191 units from 6,836 units, and Skoda Auto saw sales rise to 7,606 units from 6,656 units in the same month last year. MG Motor recorded significant growth with retail sales increasing to 4,016 units from 3,813 units.
Mixed Performance in the Luxury Segment
In the premium passenger vehicle segment, luxury automakers posted varied performances. Mercedes Benz witnessed an increase in sales to 1,234 units in November 2023 from 1,201 units in November 2022. BMW India also saw sales grow to 1,121 units from 1,016 units YoY. Porsche and Isuzu Motors reported a YoY decline in sales, while others in this segment saw total retail sales dip to 802 units from 1,288 units YoY.
Conclusion
Positive developments in retail automobile sales were seen in November 2023 with major players seeing increases and changes in market share. With new models being introduced and impending launches that will impact the landscape in the future months the dynamics of the industry are still active.
2023-12-20 17:09:36
