SUVs drive up double-digit growth in May
PUNE: Big automakers in India on Thursday posted a double-digit wholesale passenger vehicle sales growth in May led by dominant player Maruti Suzuki, Hyundai, Mahindra, and Toyota Kirloskar Motor on the back of robust demand for SUVs, new model launches and pent-up demand.
Maruti’s dispatches from factory gates to dealerships rose 15 per cent year-on-year to 1,43,708 units. The company sells one out of two cars sold in the country.
Sales at rival Hyundai also jumped 16 per cent to 48,601 units driven by the company's flagship SUVs Creta and Venue. “We are glad to announce a healthy double-digit sales growth in May 2023 fuelled by our blockbuster SUVs, Hyundai Creta and Hyundai Venue. The recently launched all-new Hyundai Verna again clocked strong numbers. At the same time, Hyundai Exter, our soon-to-be-launched SUV, continues to ramp up excitement amongst customers in the SUV space,” said Tarun Garg, COO at Hyundai Motor India.
Tata Motors, India’s biggest automaker by revenues, dispatched 6 per cent more passenger vehicles to dealers at 45,984 units last month.
Mahindra’s wholesales soared 23 per cent to 33,931 units last month. “We continue our growth trend, backed by strong demand in SUVs. The sales volume for SUVs was restricted by a short-term disruption in engine-related parts at the supplier end. The semiconductor supply constraints on specific parts like Air Bag ECU, continued during the month too,” said Veejay Nakra, President of, Automotive Division at M&M.
Sales at Korean automaker Kia increased by 3 per cent to 24,770 units in May. The company undertook a plant maintenance shutdown from May 15-20.
Sales at Toyota Kirloskar Motor surged by 90 per cent at 19,379 units in May, its highest-ever in a month. “We believe that the strong upward trajectory highlights the company's customer alignment and ever-growing product popularity with the latest launches like Urban Cruiser Hyryder, Innova Hycross and the Hilux that continue to support the strong sales momentum,” said Atul Sood, Vice President of Sales and Strategic Marketing at Toyota Kirloskar Motor.
While MG Motor clocked 25 per cent year-on-year wholesales at 5,006 units, Nissan’s sales increased 23 per cent at 2,618 units.