Auto sales remain positive in Dec 2022

The sales of passenger vehicles were mostly in the green while two-wheeler companies reported marginal growth with some figures in red. The only excitement was witnessed in the three-wheelers and commercial vehicles segment where sales momentum went up, with some even achieving double-digit growth.

While auto sales in the month of December remained mostly positive, some companies recorded negative growth on a year-on-year basis. The sales of passenger vehicles were mostly in the green while two-wheeler companies reported marginal growth with some figures in red. The only excitement was witnessed in the three-wheelers and commercial vehicles segment where sales momentum went up, with some even achieving double-digit growth.

Passenger Vehicles

Among passenger vehicles segment, Maruti Suzuki reported marginally negative growth with auto sales dropping by 9 per cent in December 2022 as compared to the same month last year. The company reportedly sold 112,010 units in December 2022 against 123,016 units sold in December 2021. The sales of the company’s utility vehicles and vans somehow went up marginally amidst falling numbers in the mini, compact and mid-size segments, thereby reporting overall negative figures in the month.

Tata Motors registered healthy growth of 13.9 per cent in its PV sales in December 2022. The company sold 40,407 units last month against 35,462 units sold in December 2021. The figure includes the growth in the sales of electric PVs.

Commenting on it, Mr. Shailesh Chandra, MD, Tata Motors PV Ltd. and Tata Passenger Electric Mobility Ltd., said, “The sales growth of 13.9 pc was recorded with the popular SUV range continuing to contribute to two-third of the sales volumes. EVs posted their highest ever auto sales in the same month at 364 units (growth of 123.3 pc). Going forward, we expect the growth momentum for EVs to remain strong with their rising popularity and the announcement of progressive policies by several states. Overall, we expect the PV industry to continue witnessing robust demand in the next quarter.”

MG Motor India’s retail auto sales for the month of December 2022 were recorded at 3899 units, which is a 53 per cent growth over the corresponding figures for December 2021. Toyota’s sales went down by four percent during the month of December 2022, as the company sold 10,421 units when compared to 10,834 units sold in December 2021. Similarly, Nissan India reported negative figures with 33 per cent drop in sales volumes. The company sold 2020 units last month against 3010 sold in December 2021.

Kia India registered sales of 15,184 units in the domestic market in Dec 2022 with 95 pc YoY growth. The company reportedly sold 7,797 units in December 2021. Commenting on Kia’s robust performance, Mr Hardeep Singh Brar, VP and Head- Sales & Marketing, Kia India, said, “Despite various headwinds like geopolitical issues, COVID-induced supply chain obstructions and price increase, we managed to register the highest sales ever for the brand in the country. It is a matter of great pride that Kia products are not only disrupting their respective segments in India but also creating waves and ever-growing demand in the international markets.”

Honda Cars’ sales went down by 11 per cent with the company selling 7,062 units in December 2022 against 7,973 units sold in December 2021.

Three-Wheelers & Commercial Vehicles

In the commercial vehicles segment, Tata Motors registered minor de-growth of 0.6 pc in overall sales in December 2022 at 33,949 units against 34,151 units sold in Dec 2021. The company sold 32,954 units in the domestic market against 31,008 units sold in December 2021, growing by 6.3 pc.

Mr Girish Wagh, Executive Director, Tata Motors, said, “The growth was mostly due to improving fleet utilizations, pick up in road construction projects and increase in cement consumption catalysed the demand recovery for MHCVs. CV exports, however, remained subdued due to the prevailing economic situation in most overseas markets. Going forward, we expect a good replacement demand, especially in MHCVs.”

Among other CV manufacturers, Mahindra & Mahindra recorded growth of 36 pc with sales of 25,132 units in Dec 2022 against 18,418 units sold in December 2021. Volvo Eicher Commercial Vehicles’ sales went up by 29 pc at 6,889 units in Dec 2022 against 5,344 units sold in Dec 2021. Ashok Leyland also celebrated sales growth of 49 pc in the same month with 17,112 units sold against 11,493 sold in the year ago period. TVS Motor registered three-wheeler sales of 14,346 units in December 2022 as against 15,541 units in December 2021, a degrowth of 7.7 pc.

Two-Wheelers

Among two-wheelers, Hero MotoCorp recorded minor two per cent growth at 381,365 units in Dec 2022 against 374,485 units sold in the month of Dec 2021. The upcoming marriage and festive season in many parts of the country, and with the continuously improving consumer sentiment on account of favourable macro-economic indicators, the company expects a positive momentum to build up from the fourth quarter onwards.

TVS Motor registered two-wheeler sales of 227,666 units in December 2022 as against 235,392 units December 2021, negative growth of 3.3 pc. However, domestic sales went up by 10 pc increasing from 146,763 units in December 2021 to 161,369 units in December 2022. Bajaj Auto’s sales remained in red with sales of 125,525 units in Dec 2022 against 127,593 units in the year ago period, recording negative growth of two per cent.

Suzuki Motorcycle India maintained a positive momentum in sales figures with growth of 26 per cent at 40,905 units in Dec 2022. The company sold 32,549 units in Dec 2021. Mr Satoshi Uchida, Managing Director, Suzuki Motorcycle India, said, “In December 2022, the company exported 23,007 units from India. This is the highest ever monthly export sales reported by the company till date.”