The passenger vehicle (PV) sales in July continued to grow for most of the manufacturers including Maruti Suzuki India, Hyundai Motor, Tata Motors and Mahindra & Mahindra, while companies such as Kia India, Honda Cars India and Skoda Auto India reported decline in sales on an annual basis.

Similarly, in the two-wheeler segment, market leader Hero MotoCorp and Bajaj Auto reported decline in sales, and in the commercial vehicle segment too, the monthly report by companies showed a mixed trend.

PV segment

In the PV segment, market leader Maruti Suzuki India (MSIL) reported a growth of 6.49 per cent year on year in its domestic wholesale (dispatches to dealers) to 1,52, 126 units in July, compared with 1,42,850 units in July 2022.

The company’s positive sales was led by SUV segment in July with sales volume of 46,620 units. The market share in the SUV space has grown from 7.1 per cent in July 2022 to 24.6 per cent by July-end this year, Shashank Srivastava, Senior Executive Officer (Marketing and Sales), MSIL, said.

The SUV segment was now accounting for 49.1 per cent of the overall domestic PV sales, he said, adding that with the company growing faster than the industry last month, “our overall market share has grown to 43.3 per cent (41.8 per cent).”

The second largest PV maker Hyundai Motor India reported a marginal growth in its domestic wholesale to 50,701 units (50,500 units) during the month.

‘Nexon’ maker Tata Motors also reported a marginal growth at 47,628 units (47,505 units) in July.

However, ‘XUV500’ maker Mahindra & Mahindra reported a growth of 29 per cent year on year to 36,205 units (28,053 units) in July.

Toyota Kirloskar Motor, meanwhile, said it has recorded highest monthly sales in July to 20,759 units (19,693 units).

MG Motor India and Volkswagen India also reported year-on-year growth in their sales during the month.

2W segment

In the two-wheeler segment, Hero MotoCorp reported year-on-year decline of 14 per cent in its sales to 3,71,204 units (4,30,684 units).

“The numbers are reflective of the inclement weather conditions in July, including unprecedented rains and floods in certain parts of the country. The incessant rains and the floods caused crop damage in several States, and also resulted in sharp decline in customer footfalls at the dealerships,” the company said.

Bajaj Auto also reported a decline of 14 per cent year on year to 1,41,990 units (1,64,384 units) during the month. However, TVS Motor, Royal Enfield and Suzuki Motorcycle reported double-digit growths.

Related Topics