Companies like Maruti Suzuki, Tata Motors, Toyota, and Honda released their April 2023 wholesale statistics. While some firms reported a decrease in sales, others showed an overall increase.
The overall sales of vehicles and the passenger vehicle segment (PV) that had record sales in FY23 decreased in April, with retail sales decreasing by 1 percent year-on-year (YoY). This was partly due to the base’s high last year and OBD 2A norms, which caused car price increases and a surge in purchases made in March. For the first time in 8 months, the private vehicle (PV) segment saw a rise in YoY, possibly suggesting a decrease in demand for this sector, according to an analysis by the Federation of Automobile Dealers’ Association (FADA).
While supply is improving, there is a massive gap between customer demand and the available stocks. Additionally, PVs with entry-level prices are less popular, suggesting that people at the bottom of the ladder are not ready to leap from 2-wheelers to 4-wheelers. In the past, for only the second time in 8 months, PV the segment saw an increase in the YoY, possibly suggesting a slowing of demand for this segment. The report also added.
Here’s a look at the meaning of numbers.
Maruti Suzuki India Limited sold an amount of 165,529 units during April 2023. The total number of sales during April comprised domestic sales of 139,519 units, sales of various OEMs that total 4,039 units, as well as exports totaling 16,971 units. In April of this year, the domestic sales of passenger vehicles increased by 12.56 percent to 137,320 units. This is an increase from 121.995 units in April 2022.
However, specific models have seen slow sales. Total sales for the Alto and the S-Presso of 14,110 units have decreased by 18 percent compared to 17137 models in April. “The shortage of electronic components had some impact on the production of vehicles. The Company took all possible measures to minimize the impact,” the Company stated in an announcement.
The seven models of the Baleno Celerio Dzire, Ignis, Swift, Tour S, Wagon R, and Tour S comprise 74.935 units, a rise of 27 percent YoY, compared to 59,184 vehicles in April of 2022. the SUVs, which include the Brezza, XL6, Grand Vitara, and Ertiga, have a total of 36,754 units, an increase of 8 percent YoY.
Tata Motors Limited’s sales in the domestic and international markets decreased by 4 percent in April 2023, with 69,599 cars, down from 72,468 units in April 2022. Total Domestic Sales were 68,514, compared to 71,467 units on April 20, 2022.
For the domestic market for passenger vehicles, Tata Motors sold 47,007 PVs in April. This is contrasted to 41,587 units in April 2022. That is an increase of 13 percent. In the international PV market, Tata Motors sold 100 vehicles in April 2023, compared to 43 cars sold in April 2022, which represents a rise of 133 percent.
Furthermore, Tata Motors has increased the price of its passenger cars starting May 1. The Company announced the increase in a statement in April. According to the announcement, the weighted average rise was 0.6 percent based on the type of vehicle and variant.
Toyota Kirloskar Motor
Toyota Kirloskar Motor (TKM) reported sales of 14,162 domestic units in April 2023. Before that, TKM had registered domestic sales of 15,086 units during April 2022. TKM was forced to take a seven-day maintenance shutdown between April 24 and 28, 2023, to maintain the condition of equipment and machinery to maintain operational efficiency, safety, and productivity.
TKM reported a healthy domestic growth rate of 26 percent at the beginning of 2023. The Company sold 61,005 units during the same timeframe last year, in which 48,278 units were sold in the US.
“TKM is continuing to witness high demand as well as good enquiries, and needless to say we are extremely thrilled to see the market responding very positively. This reflects the customer acceptance of our world-class product line-up and advanced clean technology solutions, as we continue to strongly serve our customer base in India. The Toyota Hilux, Innova Hycross and the New Innova Crysta continue their phenomenal run, as a strong demand continues, which indicates customers growing trust in Toyota for their family’s mobility needs. Our SUV segment share also continues to be buoyant owing to the success of the Urban Cruiser Hyryder along with segment leadership of the Fortuner and the Legender, which are consistently leading with over 82 per cnet market share in Q1 of CY 2023. The Vellfire and the Camry Hybrid are also steadily contributing to our sales,” said Atul Sood, vice president of the strategic and sales divisions.
Honda Cars India registered monthly domestic sales of 5,313 units during April 2023. The export numbers were 2,363 units in April. The Company registered 7,874 units in its domestic exports and sold 2,042 in April. The Company recorded a decline of 32 percent in its sales to the domestic market in April 2023 when compared to April 2022.
Commenting about the sales performance for this month, Yuichi Murata, director of marketing and sales at Honda Cars India Ltd, said, “Our sales results for April’23 are in line with our plan. We are pleased to start the new financial year with positive consumer sentiment and healthy market demand.”