Automobile. Most PV makers report double digit growth in April

The domestic passenger vehicle (PV) wholesale (dispatches to dealers) in April showed a steady growth on an year-on-year (y-o-y) basis — most of them growing by double digits — totalling around 3.31 lakh units.

“In April, the overall PV industry wholesales rose 13 per cent y-o-y to 3.31 lakh units compared with 2.93 lakh units in April 2022,” Shashank Srivastava, Senior Executive Officer (Marketing & Sales), Maruti Suzuki India (MSIL), said. The PV market leader on Monday reported a domestic wholesale of 1,37,320 PVs last month, a growth of 12.5 per cent y-o-y, compared with 1,21,995 units in the corresponding month last year.

Component shortage

According to the company, shortage of electronic components had some impact on its production of vehicles and the company has taken all possible measures to “minimise the impact”.

“We were constrained in many ways by the semiconductor issue and we lost some volume, especially in Brezza, Grand Vitara and the Ertiga,” Srivastava said. He, however, noted that MSIL’s market share in the sports utility segment (SUV) rose to 21 per cent last month from around 12.6 per cent a year ago, adding that the overall SUV segment accounted for over 47 per cent of the total PV sales in the industry in April 2023.

Similarly, the second largest PV maker, Hyundai Motor India, recorded domestic wholesales of 49,701 units last month — a jump of 13 per cent y-o-y — compared with 44,001 units in April 2022. ‘Punch’ maker Tata Motors also registered a domestic sales growth of 13 per cent y-o-y to 47,007 units as against 41,587 units in April 2022.

Meeting demand

Kia India said it sold a total of 23,216 units of its SUVs in April — a growth of 22 per cent y-o-y — compared with 19,019 units in the corresponding month last year.

MG Motor India recorded retail sales of 4,551 units in April 2023, a growth of 126 per cent y-o-y, compared with 2,008 units in the same month last year. The supply chain constraints remain in a few models, however, the company is working towards meeting customer demand, it said in a statement, adding that the coming months are expected to bring in further improvements on this front.

Nissan Motor India said its domestic wholesales increased 24 per cent to 2,617 units in April. The company had dispatched 2,110 units in the same month of last year. However, Toyota Kirloskar Motor (TKM) registered a domestic wholesale of 14,162 units of vehicles in April, a decline of 6 per cent y-o-y. The company undertook a week-long maintenance shutdown from April 24 to 28, for the upkeep of machinery and equipment to sustain operational efficiencies, productivity and safety, TKM said in a statement.

Honda Cars India also recorded a decline of 32.5 per cent y-o-y to 5,313 units during the month compared with 7,874 units in April 2022.

In the two-wheeler segment, market leader Hero MotoCorp reported a decline of 3 per cent y-o-y to 3.86,184 units in the first month of this financial year, compared with 3,98,490 units in April 2022 | Photo Credit: KAMAL NARANG

Two-wheelers

In the two-wheeler segment, market leader Hero MotoCorp reported a decline of 3 per cent y-o-y to 3.86,184 units in the first month of this financial year, compared with 3,98,490 units in April 2022. However, Honda Motorcycle & Scooter India reported a growth of 6 per cent y-o-y to 3,38,289 units as against 3,18,732 units in the same month last year.

TVS Motor Company, Suzuki Motorcycle India and Royal Enfield — all three reported double digit growth in the monthly sales.

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