India’s passenger vehicle (PV) market, which closed the financial year 2023 (April 2022 to March 2023) with record wholesales of 38 lakh units of cars and SUVs, has opened the financial year 2024 (April 2023 to March 2024) on a strong note with estimated wholesales of around 3,30,000 units.
Supported interest for SUVs, expanding buyer premium in vehicles, and makers sloping up creation to take care of the forthcoming request overabundance of almost 8,00,000 units are holding the market solid. If wholesales did not drop to 2,75,352 units in December 2022, April 2023 would be the 11th month in a row that sales of cars and SUVs exceeded 3,000,000 units.
Maruti Suzuki SUVs – 1,37,320 units/ 13 percent YoY
Maruti Suzuki, India’s leader in the passenger vehicle market, sold 1,37,320 vehicles in April 2023, representing a growth of 13% year-over-year (April 2022: 1,21,995) while the month-on-month increment is 3.43 percent (Walk 2023: 132,763).
- The company is still feeling the pinch of slow sales in the mass-market entry-level hatchback segment.
- At 14,110 units sold, combined sales of the Alto and S-Presso are down 18% (April 2022: 17,137 units.
- The seven-model bundle of the Baleno, Celerio, Dzire, Ignis, Swift, Tour S, and Wagon R totals 74,935 units, representing a 27% year-over-year increase (April 2022: 59,184 units).
- The premium Ciaz sedan sold 1,017 units in April, an increase of 76% year-over-year, despite starting with just 579 units in April 2022.
Hyundai – 49,701 units / 13 percent YoY
In April 2023, the auto and SUV manufacturer based in Chennai reported wholesale sales of 49,701 units, an increase of 13% year-over-year (April 2022: 44,001 units). Hyundai’s month-over-month growth was 1.77 percent lower (March 2023: 50,600 units). However, the company’s April 2023 wholesales are the second-best monthly total in the previous 13 months, coming in one unit ahead of September 2022’s 49,700 units.
Tata Motors – 47,107 units/ 13 percent YoY
Tata Motors has begun FY2023 with sales of 47,107 units in April 2023, representing an increase of 13.15 percent year-over-year (April 2022: 41,630 units) and 6.95 percent better than Spring 2023’s 44,044 units.
The company sells seven models: the Altroz, Tigor, Tiago, Nexon, Punch, Harrier, and Safari. It has capitalized on the rising demand for its SUVs, particularly the Nexon and Punch, which are the best-selling and most popular models right now. India has four SUVs.
MG Motor India – 4,551 units/ up 126 percent YoY
In April 2023, MG Motor India reported retail sales of 4,551 units, an increase of 126% year-over-year (April 2022: 2,008 units). The company’s best monthly performance in FY2023, March 2023’s 6,051 units, is down 24.78 percent from April 2023’s total.
According to MG Engine India, it keeps on confronting production network requirements in a couple of models yet is pursuing gathering client interest. On this front, it is anticipated that further advancements will be made in the coming months.
Here is the list of all the cars that are mainly sold and gained popularity among the Indian crowd.