Maruti Suzuki leads November car sales with 40% market share
In November 2023, India's car market experienced a boost in sales, with a total of 3,34,868 units sold. This marks a 3.98% increase from the same time last year. Maruti Suzuki remained the market leader, holding a 40.06% market share. Meanwhile, Hyundai and Tata Motors held second and third positions, respectively, showing slight year-on-year growth. Mahindra and Toyota made waves with their impressive growth rates of 32.24% and 43.85%, respectively.
Mahindra and Toyota impressed with their growth rate
Maruti Suzuki continued to lead the pack by selling 1,34,158 units last month, a modest 1.33% increase from the previous year. Hyundai and Tata Motors remained steady, maintaining their stability, with sales figures of 49,451 units and 46,070 units, respectively. On the other hand, Mahindra saw a significant sales jump with a 32.24% increase compared to November 2022, selling 39,981 units. Toyota also impressed with a growth rate of 43.85%, selling 16,924 units.
Renault witnessed a 61.23% YoY drop in sales
Nevertheless, not every manufacturer saw a sales surge. Brands such as Kia, SKODA, Volkswagen, Renault, Citroen, and Jeep encountered declines in their numbers. Renault, in particular, experienced a significant drop of 61.23%, with YoY sales plummeting from 6,325 units to 2,452 units.
What about month-on-month performance?
Numerous brands experienced significant drops in month-on-month performance. Despite maintaining its lead, Maruti Suzuki faced a notable decline of 20.17%, while Hyundai and Tata Motors experienced decreases of 10.30% and 4.69% respectively. Mahindra witnessed an 8.53% drop in November compared to October. Toyota recorded a significant drop of 17.61%, and Renault saw a sharp decline of 36.49%.
Decline is ascribed to various factors
The month-on-month dip in car sales can be linked to factors such as the end of festive season deals, supply chain issues, and economic shifts. Industry insiders are looking forward to strategies that will boost demand and counter the effects of the month-on-month decline.
