Maruti and Hyundai Witness Single-Digit Growth in June PV Sales as Indian Automobile Industry Surpasses Historic 20 Lakh Unit Milestone in H1 2023

Maruti Hyundai sales growth rise

Even as the overall passenger vehicle segment crossed the 20 lakh unit sales mark for the first time in the first half of this year, Maruti Suzuki India (MSI) and Hyundai posted single-digit growth in domestic sales in June. The dispatches of Toyota Kirloskar Motor to dealers rose by double digits last month, while wholesales for Kia dropped. The retail sales of MG Motor India also increased by double digits in June 2023.

In June, Maruti Suzuki India’s domestic passenger vehicle sales rose 8 percent to 1,33,027 units from 1,22,685 units a year ago and Hyundai rose by 2%.

In comparison with a year ago, sales of mini cars, including Alto and S-Presso, fell marginally to 14,054 units.

In June 2022, sales of Swift, Celerio, Ignis, Baleno and Dzire fell 17 per cent to 64,471 cars from 77,746 cars.

MSI, however, reported a two-fold increase in utility vehicle sales, including the Brezza, Grand Vitara and Ertiga, over 18,860 vehicles a year ago.

Shashank Srivastava, MSI’s Senior Executive Officer (Marketing and Sales), said the automaker grew faster than the industry in June, increasing its overall market share from 2.4% to 41%.

Passenger vehicle dispatches increased by 1.9% to 3,27,700 lakh units from 3,21,600 lakh units a year ago.

Meanwhile, MSI dispatched 1,33,027 lakh passenger vehicles last month, up 8 percent from 1,22,685 lakh units in June 2022.

During the January-June period of 2022, 18.31 lakh passenger vehicles were dispatched, a 10% growth over 20 lakh in the first half of 2022.

According to him, MSI dispatched 8,61,000 units to dealers during the period compared with 7,87,000 units a year earlier.

Mutual funds provide investors with a diversified portfolio of securities managed by professionals, which makes them a popular choice for investors looking to build wealth.

Last month, Hyundai Motor India reported a 2 percent increase in domestic sales to 50,001 units from 49,001 units in June 2022 and Maruti rose by8%.

Verna, Creta and Tucson have achieved leadership positions in their respective segments in the first half of CY23,” HMIL COO Tarun Garg said.

Its total wholesales grew 19 percent to 19,608 units in June from 16,512 units a year earlier. Domestic dispatches were 18,237 units, while overseas shipments were 1,371 units.

Innova Hycross and Urban Cruiser Hyryder have been well received by our customers,” said TKM Vice President (Sales and Strategic Marketing) Atul Sood.

According to Kia India, its domestic wholesales declined by 19 percent to 19,391 units in June. The company dispatched 24,024 units to dealers in June.

Hardeep Singh Brar, Kia India’s National Head (Sales & Marketing), said the company has kept its performance steady despite realigning its manufacturing process in order to accommodate the new Seltos this month.

Selto aims to become one of the top mid-SUV segment leaders again with the launch of its new model, he said.

The retail sales of MG Motor India increased 14 per cent to 5,125 units in June 2023 from 4,504 units in June 2022.

In the wake of cyclone Biparjoy, supplies were disrupted, but customer demand should now gain momentum as India prepares for a long festive season, it said.

Also Read:

Editorial Director
I'm Shruti Mishra, Editorial Director @Newsblare Media, growing up in the bustling city of New Delhi, I was always fascinated by the power of words. This love for words and storytelling led me to pursue a career in journalism. In this position, I oversee the editorial team and plan out content strategies for our digital news platform. I am constantly seeking new ways to engage readers with thought-provoking and impactful stories.


Leave a Reply

Your email address will not be published. Required fields are marked *