The second month of 2023 has ended and the carmakers performing business in India have released data. Regarding their passenger vehicle sales for the month. Here is a detailed analysis of the sales report for February 2023.
Maruti Suzuki India Limited
The country’s biggest automaker reported 5% sales growth with 172,321 units sold overall in February 2023. In comparison to 137,607 units sold in the same month last year, the company sold 150,823 units in the domestic market. Maruti Suzuki sold 21,875 vehicles in the small-car market in comparison to 19,691 units in the same month last year. It succeeded in selling 79,898 units in the compact sector and 33,550 units in the SUV segment. Nevertheless, exports decreased from 24,021 units in February 2022 to 17,207 units.
Hyundai Motor India
Hyundai reported selling 57,851 units as opposed to 53,159 in the same month in 2022. It recorded 9% YoY revenue growth. The company sold 7% more (47,001 units) than 44,050 units in the domestic market. Hyundai’s export figure stood at 10,850 units.
Tata Motors
For all domestic PV sales, including EVs, Tata Motors reported an annualised growth of 7% at 42,862 units compared to 39,981 units in February 2022. EV sales, which include both domestic and international transactions, increased by 81 percent to 5,318 units in February of last year from 2,934 units.
Kia Motors India
Kia India is continuing to experience rapid growth, with wholesales growing by up to 36%, or 24,600 units in February. 247,728 units have been sold over the course of the past 11 months, an increase of 51% year over year. With only one month to the end of FY2023, Kia India has already surpassed all previous records and surpassed the 186,787 units for FY2023 last month.
Toyota Kirloskar Motor
Toyota’s 15,338 units in February 2023 represent a 75 percent rise over the 8,745 units in February 2022 and a 19.50% improvement over the 12,835 units in January 2023. Sales during the first 11 months of FY2023 were 154,855 units, a 45 percent increase over the 106,632 units sold during the same period last year. The Innova Hycross and the freshly released Urban Cruiser Hyryder are driving this rise.
Mahindra & Mahindra
Mahindra & Mahindra (M&M) said on Wednesday that its overall sales for February rose by 8% to 58,801 units. In February 2022, the corporation sent 54,455 units in total to its dealers. According to a statement from the Mumbai-based car manufacturer, PV sales in the domestic market increased by 10% in February to 30,358 units from 27,663 in the prior year.
Honda Cars India
Honda Motors India recorded sales of 6,086 units, a 15% decrease, and is due to introduce the redesigned City sedan today (February 2022: 7,187 units). A total of 84,726 units were sold by the firm in the first 11 months of FY2023, a 7% YoY increase.
MG Motor India
In February’23, MG was able to sell 4,193 units as opposed to 4,528 in the same month last year . The business reported a 7% drop in sales. MG claimed that thus far, reservations have been coming in for the new Hector.
