The retail sales of auto OEMs in June and Q1FY24 seem to be a mixed bag as most of them, barring a few, reported growth in sales during these periods.
Leading carmaker Maruti Suzuki India posted domestic sales of 133,027 units in June this year, an 8.4% YoY increase over the 122,685 units sold in the same month last year. On a quarterly basis, the company saw a growth of 12.16% YoY to 414,055 units in Q1FY24. Meanwhile, on the LCV side, the company’s sales for the Super Carry fell by 1% YoY in June’23 to 2,992 units, while in Q1FY24, the sales for the LCV fell by 25.3% YoY to 8,079 units.
Tata Motors retailed 80,383 units in June’23, an increase of 1% over the 79,606 units retailed in the same time last year. However, on a quarterly basis, the company’s domestic performance dropped by 2% YoY to 222,345 units in Q1FY24 compared to 225,828 units during the same period last year.
The downfall was also seen in the company’s CV performance, with a 4% drop in domestic sales to 33,148 units in June. While in Q1FY24, the CV sales for the vehicle maker dropped by 14% YoY to 82,225 units.
On the other hand, Hyundai Motor India posted retails of 50,001 units in June, representing a marginal increase of 2.04% YoY from last June’s 49,001 units. The company further aims to increase its growth with the launch of the Exter, which is slated to enter the market on July 10, 2023. With the current portfolio, the Korean manufacturer is witnessing higher demand for its SUVs, including Venue, Creta and Tucson, which are attaining the highest sales in the portfolio.
Mahindra and Mahindra saw 21% YoY growth in the PV retails to 32,588 units in June as opposed to 26,880 units in the same month a year ago. On the CV side, the company witnessed an increase of 2.5% YoY to 20,959 units in June’23 as compared to 20,431 units in the same time last year.
Meanwhile, amidst all the news about stake dilution etc., MG Motor India secured a 13.78% lead over the last June’s achievement of 4,504 units by retailing 5,125 units in June this year.
The Japanese vehicle maker, Toyota Kirloskar Motor, posted a healthy 10.5% YoY increase in domestic retails to 18,237 in June’23 against 19,608 units in the same month last year. When compared on a quarter-to-quarter basis, the carmaker witnessed a 33% YoY jump to 55,528 units in Q1FY24 compared to 41,813 units during the same period a year ago. The company began the third shift at its Bidadi plant in Bangalore, which increased the production by 30% for the carmaker.
The other two Japanese carmakers, Honda Cars India (HCI) and Nissan Motor India did not grow their sales. HCI posted a drop in domestic sales by 35.1% YoY, from 7,834 units in June 2022 to 5,080 units in June 2023. While Nissan’s domestic retails dropped by 27.3% YoY from 3,515 units in the month last year to 2,552 units in June’23.
CV maker Ashok Leyland posted domestic retails of 14,363 units in June’23 as opposed to 13469 units (June'22), representing a 7% YoY increase in sales. Meanwhile, Volvo Eicher Commercial Vehicles posted a growth of 6.5% YoY retailing 6,715 units in June 2023 compared to 6,307 units in June 2022.
Royal Enfield posted sales of 77,109 motorcycles in June 2023 as against 61,407 motorcycles sold during the same month last year, registering a growth of 26%. The OEM also recorded its best-ever performance in Q1FY24, with over 22% growth over the corresponding period of the last financial year. Ather Energy sold 6479 units in June ‘23, registering a 101% year-on-year growth.
Hero MotoCorp sold 436,993 units in June 2023, which is around 10% less than 484,867 units sold in the same month last year. However, in the year-to-date period, the company's sales dropped marginally by 2.7% to 1,352,574 units against 1,390,193 units sold during the same period last year.
For TVS Motor Company, domestic two-wheeler retails grew by 22% with sales increasing from 193,090 units in June 2022 to 235,833 units in June 2023. Meanwhile, in three-wheeler, the company registered sales of 12,010 units in June 2023 as against 14,786 units June 2022.
Sonalika's heavy-duty tractors have carried forward its growth momentum from FY23 in Q1FY24 as the company recorded its highest-ever Q1 overall sales of 40,700 tractors to beat domestic industry growth.
Also Read