Mid-size SUV market in India grew 36% YoY in November
What's the story
The mid-size SUV market in India, which includes vehicles between 4.4m and 4.7m in length, saw a remarkable year-on-year growth of 35.93% in November. Sales jumped from 20,945 units in November 2022 to 28,471 units this year. Homegrown SUV maker Mahindra dominated the market with a whopping 68% share, thanks to the success of their new XUV700 and Scorpio range.
Sales
Mahindra Scorpio lineup recorded nearly 90% growth
The Mahindra Scorpio lineup experienced an impressive 88.77% increase in sales, selling 12,185 units compared to 6,455 units in November 2022. The XUV700 also performed well with a 26.66% growth and 7,221 units sold. Tata Motors saw positive growth with their updated Harrier and Safari models at 9.77% and 53.58%, respectively. However, Hyundai's ALCAZAR faced a significant 25.45% drop in sales, while Jeep Compass and Hyundai TUCSON also suffered considerable declines.
Future trends
Month-on-month comparison and future market trends
Although the year-on-year growth was strong, a month-on-month analysis showed a 9.19% decrease in sales from October's 31,354 units to November's 28,471 units. Mahindra's Scorpio and XUV700 experienced declines of 10.26% and 22.33%, respectively. Tata Safari enjoyed a remarkable 64.70% increase in sales month-on-month. In December, the demand may see an uptick because of the wedding season but sales may go down in January as automakers have decided to increase the prices of their cars because of rising input costs.