India's automobile sector seems to have come out of the COVID-19 effect as most OEMs have posted growth year-on-year in July 2022. Notably, exports made by some OEMs are also on the rise.
Toyota stole the limelight by registering a record of selling a maximum number of passenger vehicles in a month. The company sold a total of 19,693 units in the month.
Bajaj Auto, in the two-wheeler category, witnessed a slump of 5% YoY, while both Suzuki and TVS Motor registered growth in the segment. All the major OEMs in the commercial vehicles segment continue to grow.
Maruti Suzuki's Continues Dominance
Maruti Suzuki, India's largest PV OEM, continues to enjoy the number one selling passenger car brand in India. The OEM clocked total sales of 175,916 units in July 2022. Total monthly sales include domestic sales of 145,666 units, sales to other OEMs of 9,939 units, and exports of 20,311 units. It had sold only 162,462 units in July 2021.
Tata Motors sales in the domestic and international market for July 2022 stood at 81,790 vehicles, compared to 54,119 units during July 2021. The OEM registered 52% YoY growth in sales. Hyundai Motor India registered domestic sales of 50,500 units and export sales of 13,351 units, with cumulative sales of 63,851 units for July 2022. The company had sold 48,042 units during July 2021 and exported 12,207 units from here.
Homegrown Mahindra also posted a healthy 33% YoY growth by selling 28,053 passenger vehicles in July 2022. The OEM sold only 21,046 PVs in June 2021. The recently launched XUV 700 seems to be doing the magic for Mahindra.
Kia India recorded monthly domestic sales of 22,022 units in July 2022, registering a 46.66% YoY growth. Seltos and Sonet, with 8,451 and 7,215 units, respectively, led the sales momentum for the brand, followed by Carens with 5,978 units and Carnival with 288 units.
Toyota Kirloskar Motor sold a total of 19,693 units in July 2022, the highest ever wholesales clocked by the manufacturer in a single month ever since its inception in India. It registered a growth of 50% when compared to its wholesales in the corresponding period last year. The OEM sold 13,105 units in July 2021.
Nissan Motor India announced domestic wholesale of 3,667 units and export wholesales of 4,670 units resulting in cumulative wholesales of 8,337 units for July 2022. The cumulative wholesale YTD growth stood at 14% on domestic wholesale and exports. Notably, the OEM achieved a key milestone of exporting one million vehicles from India in July 2022.
Honda Cars India registered monthly domestic sales of 6,784 units with a growth of 12% in July 2022 over last year. The export numbers for the OEM stood at 2,104 units in July 2022. The company had registered 6,055 units in domestic sales and exported 918 units in July 2021.
Skoda India retailed a total of 4,447 units in July this year. The OEM registered a 44% YoY growth as its sales stood at 3,080 units during July 2021. The company’s Slavia sedan and the Kushaq SUV are generating good traction for the brand in the country. MG Motor was able to retail 4,013 units in July 2022. The OEM's sales fell by a margin YoY as it was able to retail 4,225 PVs in July 2021.
TVS, Honda Two-Wheelers Rise
Hero MotoCorp sold 445,580 units in July 2022. The OEM was able to retail 454,398 units in July 2021. Honda Motorcycle and Scooter India, on the other hand, had total sales of 443,643 units for the month of July 2022 stood at 443,643. The OEM's domestic sales for the month registered 18% growth over last year same period which stood at 340,420 units (July 2021).
TVS Motors two-wheelers registered a growth of 14% in July 2022, with sales increasing from 262,728 units in July 2021 to 299,658 units in July 2022 (domestic + exports). The OEM registered a growth of 15%, with sales increasing from 175,169 units in July 2021 to 201,942 units in July 2022 in the domestic market.
Suzuki Motorcycle India recorded overall sales of 76,230 units in July 2022, registering a year-on-year sales growth of 4.3% compared to July 2021. The company sold 60,892 units in the domestic market and exported 15,338 units in July 2022. Notably, this month also saw the company starting the deliveries of its recently launched big bike, Katana.
Royal Enfield posted sales of 55,555 motorcycles in the month of July, against 44,038 motorcycles for the same month last year, registering an increase of 26%. Continuing its international growth momentum, the company retailed 9,026 motorcycles, marking a year-on-year growth of 90%.
Hero MotoCorp-backed Ather Energy sold 2,389 units in July 2022, registering a 24% year-on-year growth. The start-up also introduced the new 450X Gen 3 in July 2022. In addition, the company has recently opened three new experience stores in India.
Bajaj Auto reported a 5% dip in its two-wheeler sales at 315,054 units in July 2022. The Pune-based automaker had sold 330,569 units of two-wheelers in July last year.
Mahindra, Ashok Leyland, Tata Register Growth
Ashok Leyland's total vehicle sales, including exports, recorded 58% year-on-year growth as a total of 13,625 units were retailed and exported by the company in July 2022. The commercial vehicle company had sold a total of 8,650 vehicles in the same month last year.
In the commercial vehicles segment, Mahindra sold 20,946 vehicles in July 2022. The OEM sold 17,666 commercial vehicles in July 2021. On the other hand, Tata Motors sold 34,154 CVs (domestic + exports) in July 2022. The company registered a 43% YoY growth in the CV market as it had only retailed 23,848 CV units during the same month last year.
VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales of 5982 units in July 2022 as compared to 4271 units in July 2021 recording a growth of 40.1%. This includes 5861 units of Eicher brand and 121 units of Volvo brand.