September 2023 Car Sales: Record Highs and Market

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11 months ago

In September 2023, the Indian automotive market witnessed robust sales, with approximately 3.62 lakh passenger cars finding buyers. This marked a significant increase of more than 2% compared to the same period last year and a 0.7% uptick from August 2023.

The upcoming festive season, starting with Dusshera this month and Diwali in the next, is anticipated to drive sales even higher. Vehicle dispatches remained strong in September, buoyed by the enthusiastic demand during the festive period and a substantial backlog of pending orders. The industry achieved an all-time high in monthly sales during September 2023, surpassing the previous record set in August 2023. Additionally, notable launches such as Honda Elevate, Tata Nexon Facelift, and Citroen C3 Aircross contributed to the industry’s positive momentum. Automakers are eagerly eyeing the festive season, aiming to achieve record-breaking sales figures.

Maruti capitalized on the SUV trend, benefiting from models like Grand Vitara, Fronx, Brezza, and Jimny. Maruti secured the top position as the leading SUV maker and successfully recovered its market share this year. The company experienced a growth of 1.6% in September 2023 compared to the same period last year.

Hyundai also performed well, reaching the 50,000 units mark, supported by the newly launched Exter. Hyundai managed to widen the gap between itself and Tata Motors, experiencing a YoY growth of 9.1% and gaining a 0.9% increase in market share.

Tata Motors faced a decline in volumes, primarily due to reduced sales of Harrier and Safari in September 2023, likely in anticipation of the soon-to-be-launched facelifts. Tata Motors company witnessed a 6% YoY decrease and a 1.5% MoM decline in volumes.

Mahindra demonstrated significant growth, trailing Tata Motors by only 3.5k units. The company achieved its all-time high sales numbers for XUV 700 in September 2023, marking the third consecutive month of record-breaking sales.

Toyota also experienced remarkable growth this year, driven by the success of its newly launched rebadged Rumion model, which contributed to a YoY growth of over 44%. These developments showcase the dynamic and competitive landscape of the Indian automotive market in the year 2023.