The Indian car market has boomed recently with great expectations from the Diwali period for positive figures. However, sales figures show that the industry saw a slight decline. We have month-to-month sales figures for mass-market car manufacturers for October 2022, and here are the top 10 performers:
In October 2022, Maruti continues to compete in terms of monthly sales, nearly three times the number of Hyundai, the second best-selling brand. While its year-on-year (YoY) figures have improved by about 29 per cent, its month-on-month (MoM) performance has declined by over 5 per cent.
Korean carmaker Hyundai has maintained its hold on the second spot just above Tata. Hyundai has seen a decline of 3.4% in the last month but has seen a growth of around 30% year-on-year.
Meanwhile, domestic automaker Tata saw its MoM sales fall by around 5% but remains the third best-selling car brand in India, a few thousand units behind Hyundai. In terms of year-on-year performance, Tata has achieved a growth of 33.3%.
Mahindra, on the other hand, has seen the biggest growth of over 60% on a year-on-year basis. The market’s top SUV brand maintains its market position with a healthy margin for the next best-selling brand despite the MoM decline in sales of around 6%.
Kia’s MoM figures have declined by almost 10% despite the carmaker selling over 23,000 units. The carmaker registered an annual growth of over 40%, probably thanks to the launch of the Karens MPV in 2022 and updates to the Sonnet and Seltos SUVs.
Toyota saw the smallest year-over-year growth of less than 6% and also saw the biggest drop in monthly sales. Still, it is the only other brand with monthly sales of more than 10,000 units.
Honda is one of the few companies that has registered a growth of 17.7% and 9.5% respectively in both its YoY and MoM sales figures.
Renault is the only manufacturer to see year-on-year sales decline in the top 10, while the MoM figures grew just 2%.
British automotive company MG has enjoyed significant growth in sales, with around 15% in MoM sales and over 52% in YoY figures.
While Volkswagen’s MoM sales declined by 14.5%, it also saw a growth of 14.1% on YoY figures.
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