Delhi, New: May saw a slight increase in India’s passenger car wholesale market due to the general elections’ decreased demand and high base impact. The total number of passenger vehicles delivered by firms to dealers last month was 3,50,257 lakh, up 4% from 3,35,436 units in the same month the previous year.
According to Maruti Suzuki India (MSI), the company’s overall domestic passenger vehicle sales increased little from 1,43,708 units sold a year ago to 1,44,002 units last month.
Sales of small and basic cars for the company decreased last month compared to May 2023, an increase from the previous year.
Sales of pickup trucks, such as the Brezza, Grand Vitara, Ertiga, S-Cross, and XL6, increased to 54,204 units this month from 46,243 units the previous year.
It was predicted that this year’s growth won’t be very strong. The high base effect will cause it to be in single digits. Second, the intense heat and the elections affected May’s overall sales, Partho Banerjee, Senior Executive Officer, MSI, Marketing & Sales, told reporters.
He continued, saying, “We are really confident that once the election results are in, we will start to see new growth. I believe that things will improve.
Banerjee said that in an effort to boost the small car market, the business will launch limited edition versions of its entry-level vehicles, the Alto K10, S-Presso, and Celerio.
According to him, the Dream Collection edition customizations of the three vehicles would go on sale for Rs 4.99 lakh (ex-showroom).
The functions and ease of use are the main focus of this release, which we developed based on input from our target market. stated Banerjee.
Maruti Suzuki’s Alto and S-Presso small segment car sales fell to 9,902 units this month from 12,236 units in May 2023.
Hyundai Motor India, a rival, announced last month that domestic car delivery to dealers increased by 1% year over year.
a total of 48,601 units in May 2023, the company’s wholesales increased to 49,151 units in May.
Tarun Garg, COO of Hyundai Motor India, stated that low single digit sales growth is expected for this financial year.
The industry increased by about 1.5% in April as well, so in April and May, it should have grown by about 2% to 2.5% more than it did during the same period previous year, he told.
According to Tata Motors, sales of passenger cars, including electric cars, in the domestic market increased by 2% to 47,075 units in comparison to 45,984 units in the same month last year.
On the other hand, Mahindra & Mahindra recorded a strong 31% year-over-year rise in consumer vehicle deliveries last month, total 43,218 units.
As of May 2023, 32,886 units had been sold.
When compared to the same month last year, Toyota Kirloskar Motor recorded a 24% year-over-year rise in total wholesales in May, totaling 25,273 units.
According to Kia India, its overall wholesale sales grew 4% annually to 19,500 units in May. In May 2023, the vehicle manufacturer had sent 18,766 vehicles to dealers.
We have actively introduced new affordable variants of our vehicles already this year, which has greatly increased sales. Hardeep Singh Brar, Senior VP and Head of Sales and Marketing at Kia India, said.
He said, “The company will continue to grow through the rest of the year and soon break the 1 million domestic sales record with a strong network building strategy in place.”
In May, MG Motor India showed a 5% decrease in wholesale sales at 4,769 units in compared to that same month the previous year. In May 2023, the company sent 5,006 units to dealers.
