March Auto Sales Report Analysis

Posted by : Sheen Hitaishi | Tue Apr 04 2023

March Auto Sales Report Analysis

[vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overflow=”visible” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text css=”.vc_custom_1680593959575{margin-right: 16px !important;margin-left: 16px !important;border-right-width: 10px !important;border-left-width: 10px !important;}”]Wondering how the Indian automotive industry performed in March 2023? Well, we’ve got some interesting news to share with you! As per the latest sales figures, Mahindra & Mahindra has emerged as the top performer with its best growth, closely followed by Hyundai India. However, the same cannot be said for Tata Motors and Maruti Suzuki, as both companies have reported no growth or de-growth.

On the other hand, Tata Motors and Maruti Suzuki have faced some challenges in terms of sales growth. While Tata Motors has reported no growth, Maruti Suzuki has seen a decline in sales, primarily due to supply chain disruptions and the ongoing semiconductor shortage.

 

Auto sales chart

Maruti Suzuki India Limited (MSIL)

Maruti Suzuki India, the leading carmaker in the Indian market, reported a marginal decline in total sales in March 2023. The company sold a total of 1,70,071 units, a 0.2% drop from the same month in the previous year when it sold 1,70,395 units.

While the export figures did see a 14% YoY growth with 30,119 units sold in March 2023 as compared to 26,496 units in March 2022, the total dispatches to dealers in the domestic market fell by 3% to 1,39,952 units from 1,43,899 units in the same month last year.

Despite the decline in domestic sales, Maruti Suzuki reported its highest ever wholesales till date at 19,66,920 units for the last financial year, indicating that the brand is still a force to be reckoned with in the Indian car market.

However, with only a 0.2% YoY growth in March 2023, Maruti Suzuki will need to work harder to maintain its position as the top carmaker in India. As the company continues to introduce new models and enhance its existing offerings, it will be interesting to see how its sales figures evolve in the coming months.

But, are you a fan of Suzuki motorcycles? Well, you’ll be glad to know that the two-wheeler maker has posted an impressive 49 percent jump in vehicle sales! In the month of March, the company sold a total of 97,584 units, marking a significant increase from the same period in 2022. Of the 97,584 units sold, 73,069 were sold in the domestic market, while 24,515 units were exported. This is a clear indication of Suzuki Motorcycle India’s success, both locally and internationally.

Mahindra & Mahindra

Mahindra & Mahindra Ltd.’s total passenger vehicle sales rose 30% to 35,997 units in March, its highest-ever in a month. In the latest auto sales report, tractor sales witnessed a growth of 18% to 35,014 units, indicating a positive trend in the agriculture sector. Similarly, three-wheeler dispatches registered a significant increase of 41% to 5,697 units, pointing toward the growing demand for last-mile connectivity. Sales of medium-capacity light commercial vehicles also witnessed a growth of 15% to 17,428 units, which can be attributed to the rise in the e-commerce and logistics sectors. 

Additionally, total passenger vehicle sales in FY23 saw a remarkable surge of 59% to 3.59 lakh units, suggesting a rebound in the automobile industry post-pandemic. Furthermore, tractor sales in FY23 rose by 15% to 4.08 lakh units, indicating steady growth in the agricultural sector over the past year.

Tata Motors

Tata Motors’ car sales in March 2023 have largely been driven by their popular models, the Nexon and Punch. These vehicles have consistently generated good sales volumes for the brand.

While the YoY sales growth of 4.14% may not seem particularly impressive, it’s worth noting that Tata Motors sold 1,751 more units this year than in March 2022. Additionally, the brand continued its winning streak with a 2.75% MoM growth compared to February 2023, when 42,865 units were sold.

Despite facing tough competition in the Indian car market, Tata Motors has managed to hold its own with the success of the Nexon and Punch models. As the brand continues to innovate and introduce new models, it will be interesting to see how their sales figures evolve in the future. 

Hyundai Motor

Are you curious about Hyundai Motor India’s latest sales figures? Well, the numbers are in, and they are impressive! In March, the company saw a growth of 13 per cent in the domestic market, with 50,600 units sold as compared to 44,600 vehicles in the same month last year.

And that’s not all. The yearly sales figures for Hyundai Motor India also saw a significant jump, with an 18 per cent increase to 5,67,546 units in the domestic market, as compared to 4,81,500 units in the previous financial year (FY2021-22). It’s clear that Hyundai Motor India is doing something right, and with these impressive sales figures, they’re showing no signs of slowing down.

Kia India 

Kia India’s sales figures in the domestic market for the month showed a decline of five per cent, with 21,501 units sold as compared to 22,622 vehicles in the same period last year. Exports improved by 22 percent in the last quarter of the year when compared to sales in the same quarter of last year. Exports stood at 85,754 units in FY2023 while there had been 6,200 units exported in March 2023.

Hero MotoCorp

According to the latest data, motorcycle sales experienced a growth of 14.13%, reaching a total of 4.86 lakh units. Meanwhile, the sales of scooters saw a significant jump, increasing by 37% to a total of 33,446 units. However, the numbers for exports were not as positive, as they decreased by more than half, resulting in a total of only 16,612 units.

Nissan India- The Export Strategy

Exciting news for Nissan India enthusiasts! The Japanese carmaker has recorded an impressive 23 per cent growth with a total wholesale of 94,219 units for FY2022-23. This includes 33,611 units sold domestically and 60,608 units exported throughout the financial year.

And that’s not all. In March 2023, Nissan India sold a total of 10,519 units, comprising 3,260 units in the domestic market and an export volume of 7,259 units. This marks an impressive 31 per cent growth on a YoY basis, as the brand sold 3,007 units domestically while exporting 4,976 units in March 2022.

It’s clear that Nissan India is making strides in the auto industry, and with these impressive sales figures, they’re showing no signs of slowing down. 

 

ABOUT THE AUTHOR

Ketan Sonalkar (SEBI Rgn No INA000011255 )

Ketan Sonalkar is a certified SEBI registered investment advisor and head of research at Univest. He is one of the finest financial trainers, with a track record of having trained more than 2000 people in offline and online models. He serves as a consultant advisor to leading fintech and financial data firms. He has over 15 years of working experience in the finance field. He runs Advisory Services for Direct Equities and Personal Finance Transformation.

Note – This channel is for educational and training purpose only & any stock mentioned here should not be taken as a tip/recommendation/advice

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