India (Commonwealth) _Sports utility vehicle (SUV) sales increased in December, while sales of compact cars decreased in spite of steep discounts, according to figures released on Monday by Indian manufacturers.
Automakers have profited from the sales of luxury automobiles, which cater to a more affluent audience mainly untouched by increasing pricing, while entry-level vehicle sales remain slow owing to inflation.
Mahindra & Mahindra and Maruti Suzuki both reported year-over-year increases in domestic SUV sales of 39% and 24%, respectively. The SUV sector produced by Indian automakers has benefited from high demand over the past 12 months.
In 2023, Mahindra, a manufacturer of SUVs like the Thar, Scorpio, and XUV, saw several months of record sales in the segment. Its revenues have increased by 20% to 57% every month this fiscal year. SUV sales have accounted for nearly all of Mahindra’s domestic passenger vehicle (PV) sales thus far this fiscal year, while they made up 36% of Maruti’s PV sales thus far this fiscal year, up from 22% previous year.
The combination of poor demand for entry-level vehicles and the time of year when automakers typically offer higher discounts caused Maruti to raise discounts on its lower-priced models by 40% to 45%. Sales of its compact vehicles, such as the Alto and Baleno, however, decreased by 29%. That was partly caused by Maruti’s control over wholesales as well.
Tata Motors announced an 8% increase in domestic PV sales, but it did not break out the growth percentages for individual car classes. Bajaj Auto’s domestic two-wheeler sales increased by 26% in the first half of the month thanks to the company’s entry-level bikes seeing robust sales. According to observers, Bajaj and other manufacturers of two-wheelers profited from the month’s first half, which was wedding season.
Domestic sales of two-wheelers increased by 26% and 27% for Bajaj Auto and TVS Motor, respectively, while sales of Royal Enfield motorcycles from Eicher Motors decreased by 7%.
Analysts have stated that Bajaj and other two-wheeler manufacturers profited from the wedding season that occurred in the first half of the month. Volume growth has also been aided by the strong demand for the Triumph bikes that Bajaj produces. Later in the day, the leading two-wheeler manufacturer in India, Hero MotoCorp, TVS Motor, and Tata Motors will all release their monthly sales figures.
The days of becoming an SUV owner being a faraway fantasy are long gone. The gap between desire and cost is no longer enormous, thanks to the small SUV market. Even though tiny SUVs are the most popular in the market, full-sized and mid-sized SUVs still lead the pack overall. Compact SUV sales are at an all-time high each month due to the abundance of alternatives on the market; few models are able to dominate the market, while others find it difficult to create an impression.
It goes without saying that November was yet another fantastic month for the sector despite a decline in sales in the second half due to the market’s obsession with SUVs. This is the full sales chart for the top-selling small SUV for December.
India’s car industry offers a wide variety of cars, from sturdy SUVs and family-friendly sedans to little hatchbacks. But a few stand out above the rest, maintaining their status as India’s best-selling automobiles. India’s automobile industry is very competitive; according to industry estimates, the country’s vehicle sector ranked fourth in the world in 2022.
India is the third-largest automotive market globally in terms of sales as of 2023. The Indian government is aggressively pushing green mobility measures in response to climate change. Which automobiles are excellent enough to hold their positions as the best-selling cars in India in such a cutthroat auto market? Let’s examine the list and determine their ranking.
More than 77% of all automobiles sold in November and December 2023 were among the Top 25 Best-Selling Vehicles. There were ten Maruti models, four Tata, one each from Hyundai and Mahindra, two from Kia, and one from Toyota. Maruti Suzuki vehicles contributed more than 47% of the total volumes to the Top 25.
