The Indian automotive industry began its innings in the first month of this calendar on a positive note as automakers across segments largely have witnessed growth, barring a few who are still struggling to get back on track.
Leading carmaker Maruti Suzuki registered a 14.28% YoY increase in its retail numbers to 151,367 units in January 2023 compared to 132,461 units retailed in the same month last year.
Meanwhile, the other Indian carmaker, Tata Motors, closed the retail sales of its passenger vehicles business with 147,987 units in January 2023, registering a growth of 18% over the same period last year.
On the other hand, Mahindra & Mahindra (M&M) reported a 65% YoY growth to 33,040 units in January 2023. Hyundai Motor India saw its January sales grow by 13.8% to 50,106 units in the domestic market, while its sibling Kia India retailed 28,634 units, which is 48% higher than the 19,319 units it achieved in the first month of CY22.
However, the SAIC-owned MG Motor has reported a 4.45% drop YoY to 4,114 units citing supply chain issues. The company noted that production is regaining momentum with some improvement in the supply chain. However, select variants of the manufacturer still remain impacted.
On similar lines, Honda Cars India has reported a 25% dip in sales in the month to 7821 units (10,427 units).
Two-Wheelers Showing Progress
The two-wheeler segment has begun witnessing positivity as TVS Motor Company saw its domestic two-wheeler sales grew 29% to 216,471 units in January 2023 against 167,795 units in January 2022. On the contrary, Bajaj Auto registered a 4% YoY growth to 1,40,428 units (1,35,496 units).
Slower Progress In CVs
In the CV segment, the sentiments seem stagnant. The leading CV maker of the country, Tata Motors, posted retail sales of 31,694 units which is 14 units short of what it achieved in the first month of 2022.
Ashok Leyland, has registered a 27% YoY growth with retails of 16,198 units in January 2023 as opposed to 12.709 units in the same month last year. VE Commercial Vehicles recorded sales of 7,181 units in January 2023 compared to 5,434 units in January 2022, witnessing a growth of 32.1%.
Meanwhile, M&M posted a 2.9% YoY growth to 21,724 units in January 2023 compared to 21,111 units in January 2022. The three-wheeler business of the company, though, saw good growth of 129% YoY in the month to 6,562 units compared to selling 2,868 units last year.
The 3Ws of TVS Motor Company registered sales of 10,405 units in January 2023 against 12,649 units in the same month a year ago. Bajaj Auto reported domestic retail sales of 32,842 units, representing a 132% growth over the 14,160 units it did in January 2022.
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