In November 2023, major automakers witnessed varied performances in their passenger vehicle sales, with a notable rise for several companies except for Tata Motors, which experienced a marginal decline in sales. Here’s a detailed breakdown of how some of the leading players fared during this period:
Toyota Kirloskar Motor
Toyota Kirloskar Motor (TKM) reported a substantial year-on-year increase in domestic market sales. Thus reaching 16,924 units, marking a 44% rise compared to November 2022. However, there was a 17.61% month-on-month decrease due to a scheduled maintenance shutdown from November 11-19. TKM’s performance for the first 11 months of 2023 showcased a 40% year-on-year improvement, with 210,497 units dispatched. Similarly, in the first eight months of FY2024, total wholesales increased by 31%. This is compared to the same period in the previous year.
Hyundai
Hyundai Motor India reported total sales of 65,801 units in November 2023, comprising 49,451 units in the domestic market and 16,350 units in exports. While there was a slight month-over-month decline of 4.2%, the company experienced a 3.01% year-on-year growth in domestic sales and a 2.18% rise in exports.
Maruti Suzuki
Maruti Suzuki India Limited (MSIL), the country’s largest passenger car manufacturer, sold 164,439 vehicles in November 2023, marking a 3.4% growth from the same period in 2022. The sales comprised 136,667 units in the domestic market, 4,822 units to other OEMs, and 22,950 units in exports. While domestic sales saw a marginal increase of 1.6%, exports surged by 16%. Sales within the passenger vehicle (PV) segment witnessed fluctuations, with a decline in compact car sales by 11.2% but a significant rise of 50.5% in Utility Vehicles.
Honda
Honda Cars India (HCIL) achieved a 24% year-on-year sales growth in November, reaching 8,734 units in the domestic market. The introduction of the Elevate midsize SUV earlier in the year contributed to increased demand, and exports surged by 335% year-on-year, albeit from a low base in November 2022.
Kia
Kia India secured the fifth position with 22,762 units sold in November 2023, experiencing a year-on-year sales decline of 5.3%. The introduction of updated models like the facelifted Seltos aimed to boost sales in the upcoming period.
Tata Motors
Tata Motors witnessed a 1.7% drop in total sales, reaching 74,172 vehicles in November 2023 compared to 75,478 units in the same period last year. The company’s domestic sales declined by 1%, with both Passenger Vehicle (PV) and Commercial Vehicle (CV) segments experiencing decreases of 1% and 4%, respectively.
Mahindra & Mahindra
Mahindra & Mahindra Ltd (M&M) reported total auto sales of 70,576 vehicles in November 2023, marking a notable 21% year-on-year growth. The company experienced a substantial increase in total passenger vehicle sales by 32%, primarily driven by growth in Utility Vehicles.
MG
MG Motor India sold 4,154 units in November 2023, reflecting a month-over-month decline of 18%. Despite this decline, there was a slight year-on-year growth of 1.8%, with electric vehicles contributing 30% of the total sales.
Each automaker showcased distinctive performances influenced by various factors, including product launches, maintenance shutdowns, and market demand for specific vehicle segments. While some companies experienced growth in certain segments, others faced challenges leading to marginal declines in their sales figures.