SUVs drive PV sales in July, 2023

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SUVs’ market share in India has been continuously growing. SUVs’ market share in India was last reported to be 43 per cent in 2022. It was just 24 per cent back in 2018. Strong demand for SUVs has driven sales volume of PVs in July, 2023.

The Japanese based automobile manufacturer, Maruti Suzuki Limited India, held number one position in domestic SUV sales for the month of July, 2023. Maruti Suzuki sold 44,620 SUVs in July, 2023, which is highest PV sales by any automobile company in India for the said month. Maruti Suzuki’s market share in India’s SUV market has now increased three-fold to 24.6% in July, 2023, as compared to year ago period. SUVs now constitute 49.1% of total PV sale of Maruti Suzuki in India.

Even, other automotive companies could bring up decent PV sales figure in July, 2023, riding on the wave of increasing SUV sale in the country. Hyundai Motor India COO Tarun Garg said, “Our domestic July sales volume of 50,000 plus units is backed by a strong SUV portfolio. This has been bolstered by the addition of Exter to an already strong SUV line-up.”

The South Korean automotive company, Hyundai Motor India, sold 50,701 PV unit in July, 2023. While, the home grown automobile manufacturer, Tata Motors, clocked sale of 47,628 PV units in the same month. Tata Motors sold more passenger vehicles (PVs) in July, 2023, than, its counterpart Hyundai Motor India. The latter came at second position in India’s PV domestic sale in the month of July, 2023. While, both Tata Motors and Hyundai Motor India reported flat YoY sales growth domestically in July, 2023.

Mahindra & Mahindra whose 100 per cent portfolio constitutes only utility vehicles, clocked highest ever monthly sale of 36,205 units in July, 2023. The company received strong demand for Mahindra XUV 700 and Scorpio line up.

Mahindra & Mahindra, on the other hand, saw 30 per cent YoY jump in PV sale to 36,205 units in the said month.

MG Motor also reported 25 per cent yearly sales growth to 5,012 units in July, 2023.

While, Maruti Suzuki India (MSI) remains numero uno automotive company in India clocking sale of 1.52 lakh PV units up 6% YoY in July, 2023 from 1.42 lakh units in July, 2022.

PV sales in July, 2023:

Source: PTI