The year 2023 has been market significantly lucky for the automobile industry, as the industry has witnessed a growth in numbers over January and February.
If we look at the reports, March has also held the momentum supported by a good uptick in urban markets, pent-up demand, approaching price hikes of the vehicles because of the second stage of BSVI emission norms, the introduction of new models, and normalizing the chip shortage.
Hyundai Motor To Kia: What Does The March Report Say?
Talking about Hyundai Motor India, registered an 11% hike in sales at 61,500 units in March. Relating it to the last year, the company stood at 55,287 units in March.
The firm’s domestic dispatches went up by 13% in March 2023 to 50,600 units. The numbers were 44,600 in March 2022.
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The passenger vehicle of Tata Motors’ sales in the domestic market was 44,044 in the last month, a 4% hike from 42,293 units in March 2022. The complete PV sales including domestic and international, also rose by 4%, with 44,425 units sold in the last month as compared to 42,466 units in the same month of the last year.
The Managing Director of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, Shailesh Chandra revealed that “FY 22-23 has listed a new record for passenger vehicle sales in India.
The sharp growth of the industry was influenced by post-Covid pent-up demand in the starting phase of the year, the introduction of various new vehicles, and relieving of the semiconductor shortage.
At the time, SUVs and EVs started this growth, the increasing preference of customers for safe vehicles, as well as smart technology features, was evenly pronounced.
Unlikely, the entire sales of Maruti Suzuki have slightly fallen to 1,70,071 units in the last month relating to the 1,70,395 units in March 2022. This adds domestic sales of 1,36,787 units, sales to domestic OEMs, and exports.
The complete dispatches in the domestic market fell by 3% to 1,39,952. The number stood at 1,43,899 units in the same month of the last year.
On April 1, Kia revealed that its sales fell by 5% to 21,501 units in the last month. The same was at 22,622 units in March 2022.
As per the initial calculations, 2022-23 witnessed sales of 38.9 lakh units, a 27% growth on the 30.7 lakh units delivered in 2021-22.
The Most Ever Dispatches !!
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Moreover, Maruti Suzuki, Hyundai, and Tata Motors reported their most-ever dispatches to dealers last fiscal, permitting the domestic PV industry to show its best-ever performance till now.
In the two-wheeler segment, Hero MotoCorp listed a 15% hike in complete sales at 5,19,342 units for the last month, relating to 4,50,154 units in March 2022.
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The domestic sales of the last month were at 5,02,730 units and it was 4,15,764 units in March 2022, listing a growth of 21%, Hero MotoCorp revealed in a statement.
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