Most brands have registered positive month-on-month (MoM) sales growth
The car sales figures for July 2023 are out, and as usual, Maruti Suzuki sits atop the charts; and this time it enjoyed a decent growth as well. Following Maruti, only three carmakers – Toyota, Volkswagen, and Mahindra – have registered a month-on-month (MoM) growth of over 10 percent. The sales distribution for the top performing car manufacturers in India is detailed below in the table.
| Brands | July 2023 | June 2023 | MoM Growth (%) | July 2022 | YoY Growth (%) |
| Maruti Suzuki | 1,52,126 | 1,33,027 | 14.4% | 1,42,850 | 6.5% |
| Hyundai | 50,701 | 50,001 | 1.4% | 50,500 | 0.4% |
| Tata | 47,630 | 47,240 | 0.8% | 47,506 | 0.3% |
| Mahindra | 36,205 | 32,585 | 11.1% | 27,771 | 30.4% |
| Toyota | 20,759 | 18,237 | 13.8% | 19,693 | 5.4% |
| Kia | 20,002 | 19,391 | 3.2% | 22,022 | -9.2% |
| MG | 5,012 | 5,125 | -2.2% | 4,013 | 24.9% |
| Honda | 4,864 | 5,080 | -4.3% | 6,784 | -28.3% |
| Skoda | 4,207 | 3,966 | 6.1% | 4,447 | -5.4% |
| Volkswagen | 3,814 | 3,394 | 12.4% | 2,915 | 30.8% |
Key Takeaways
- Maruti Suzuki crossed the 1.5 lakh sales mark, registering the highest MoM growth of over 14 percent. The gap between Maruti and the second best-selling carmaker, Hyundai, is over 1 lakh units. In fact, the mass-market brand sells more cars per month than the next three best-selling carmakers combined.
Also Read: Maruti Alto Moniker Crosses 45 Lakh Sales Milestone
- Hyundai continues to be the second best-selling car manufacturer in India, crossing over 50,000 unit sales in July 2023. Its month-on-month (MoM) and year-on-year (YoY) sales growth figures indicate strong demand for Hyundai cars, likely boosted with the launch of the new Exter micro-SUV.
- Tata has shown consistency in both month-on-month (MoM) and year-on-year (YoY) sales. The Indian carmaker is lining up to expand production capacity and is currently working on facelifts for Nexon, Harrier, and Safari, which are expected to be launched next year.
- Mahindra has registered a month-on-month (MoM) growth of 11 percent, while its year-on-year (YoY) growth stands at 30.4 percent. Mahindra has also clarified that it will focus on increasing its production capacity over the next six months to bring down the waiting period on its SUVs.
- Toyota has overtaken Kia to become the fifth best-selling carmaker in India by selling over 20,000 units in July 2023. The automaker is currently witnessing high waiting periods on its MPVs, and city-wise data is detailed in this story.
Also Read: Toyota Innova Crysta Gets Dearer By Up To Rs 37,000
- Though Kia was able to achieve a positive month-on-month (MoM) sales growth of 3.2 percent, its year-on-year (YoY) sales went down by over 2,000 units. It slipped to the sixth spot in the sales table. Kia has recently launched the updated Seltos, which is expected to help the carmaker regain sales momentum in the country.
- The next best-selling carmaker for the month was MG with over 5,000 vehicles sold. That’s a drop of around 75 percent from the brand above it. While its MoM sales declined by 2 percent, MG has shown a YoY growth of nearly 25 percent.
- Honda has witnessed a decline in both its sales figures. It faced a loss of over 4 percent in MoM sales, and also saw a downfall of 28.3 percent in YoY sales. However, its results could be significantly better soon with the launch of the new Elevate SUV.
- Both Skoda and Volkswagen made it to the top 10 list for July 2023 sales despite the less-than-impressive tally. Together, they have not even managed to achieve the 10,000 units sales mark. However, Volkswagen has registered the highest YoY growth here of 30.8 percent.
