Car sales boom in India as Maruti, Hyundai, Toyota drive out record numbers
The momentum in the Indian passenger vehicle (PV) market continues to gain in strength with September bringing in even louder cheer for most manufacturers in the country. Memories of lockdowns due to the pandemic, and the subsequent issue of semi-conductor shortage, have faded away to distant memory as factories as well as showrooms are buzzing loud.
The month of September saw car manufacturers rake in even more moolah and for many, it was a month of new records. Overall industry dispatches were at 3,63,733 which is the highest ever in a single month, surpassing figures from August. And while demand continues to gradually rise, what is helping matters is that production constraints are now fading away as well.
Take the case of Maruti Suzuki, for example. The country's largest car manufacturer drove its way to a new personal record by dispatching 1,81,343 units last month. This is the highest it ever has in a single month. The total sales for the company between April and September was over 10 lakh units. “The semiconductor issue is almost behind us and the demand continues to gain in strength. Our new models in particular, like the Vitara Brezza, have been big hits and driving our numbers higher still," said Shashank Srivastava, Senior Executive Officer, Marketing and Sales, Maruti Suzuki India Limited. The company currently has an order book of 40,000 for Brezza, 23,000 for Vitara Brezza, 20,000 for Fronx, 10,000 for Jimny and around 7,500 for Invicto.
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Others like Hyundai, Mahindra and Toyota too have reported solid - and record - performances in September. While the Koreans dispatched 71,641 units with the Exter joining Creta and Venue to show the way forward, Mahindra's lineup of SUVs helped it send out 41,267 units.
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A large chunk of the sales propulsion for almost every manufacturer in the country is coming in from the SUV body type. On the flipside, demand for - and therefore sales of - smaller vehicles is rather lukewarm. Maruti, long considered the champion of small and affordable cars - reported that sales of its Alto and S-Presso models combined fell by 65 per cent in September vis-a-vis September of 2022. This just goes on to show the degree to which the company's more premium offerings are faring strong.
But even as more and more Indians are buying more premium vehicles in the mass-market segment, manufacturers are digging in heels for what is most likely expected to by a bumper bonanza of an October in the Indian car market.
