Informist, Friday, Aug 12, 2022

By Kiran Murali 

NEW DELHI – Passenger vehicle sales in India hit a post-pandemic high in July, recording a 11% on-year increase at 293,865 units, according to numbers released by the Society of Indian Automobile Manufacturers. Compared to June, sales are up 6.6%.

Among the fastest growing players for the month were Toyota Kirloskar Motor — whose shipments jumped by a whopping 50% on year, followed closely by Kia Motors — whose dispatches zoomed 47%, and Mahindra & Mahindra, whose sales rose 33%, according to SIAM data.

Numbers for Tata Motors, which led the market in terms of growth with a 57% jump in passenger vehicle sales in July, were not part of the SIAM data, nor was data for BMW, Mercedes, and Volvo Auto.

SUV GROWTH MODERATES

Unlike in recent months, growth was driven by both cars and sports utility vehicles, with both categories seeing sales growth of slightly over 10% during the month. This is in contrast to recent months like June, when utility vehicles grew at a much faster 32% compared to the 9% growth seen in car sales.

As a result, cars continued to hold an edge over utility vehicles in sheer volumes. A total of 143,522 cars were sold compared to 137,104 utility vehicles sold.

Maruti Suzuki was the undisputed leader, contributing 142,850 — or about half — of the total passenger vehicle sales during the month.

However, in terms of growth rate, it was closer to the bottom, with dispatches rising only 6.7% on year due to production problems.

Meanwhile, Hyundai Motors continued to hang on to the second spot despite tough competition from Tata Motors. The Korean automaker dispatched 50,500 units during the month, against 47,505 units shipped by Tata Motors.

Mahindra & Mahindra came fourth with sales of 28,053 during the quarter, followed by Kia Motor at 22,022 units and Toyota Kirloskar at 19,691. 

On the production front, passenger vehicle numbers rose over 7% on year to 358,888 units. Exports, meanwhile, increased 3.4% to 54,073. 

TWO-WHEELERS

Two-wheeler sales in India increased 9.6% on year in July to 1.38 mln units with the easing of supply constraints and inventory build-up by retailers ahead of the festival season. Sequentially, two-wheeler sales were up 4.5%, led by strong demand for scooters.

However, they were nowhere close to the record of 1.56 mln units sold in July 2016. 

Two-wheeler production came in at 1.77 mln units, up 3.7% on year, while exports rose 5.5% to 357,498 units.

SIAM detailed domestic vehicle sales figures for July as follows:

* Data does not include sales of Tata Motors, BMW, Mercedes and Volvo

SIAM detailed domestic vehicle production figures for July as follows:

End

Edited by Maheswaran Parameswaran

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