Auto sector continues steady recovery; Maruti, Tata Motors big gainers

In line with estimates, the auto sector continues its steady recovery on the back of increased dispatches to dealerships despite near-term challenges including chip shortage and high inflation. Recording a robust growth in sales in August 2022, India's largest auto-maker Maruti Suzuki India Ltd. sold a total of 1,65,173 units in August 2022, up 26.4% from 1.3 lakh units sold during August 2021.

The total sales in the month include domestic sales of 1,37,537 units in 2022, as compared to 1.1 lakh units in August 2021. The sales to other OEMs stood at 6,155 units and exported 21,481 units. The industry leader reported total domestic passenger vehicle (PV) sales of 1,34,166 in August 2022 as compared to 1,03,187 units sold during the same period last year, a growth of 30%.

Tata Motors

Tata Motors Ltd. registered sales of 78,843 units in the domestic and international markets in August 2022, a growth of 36% over the last year when the company sold 57,995 units in August 2021. Tata Motor's total domestic sales for August 2022 stood at 76,479, a growth of 41% as compared to 54,190 units sold in August 2021. The total commercial sales for the month stood at 31,492, up 6% from 29,781 in August 2021. The domestic sales of Medium and & Heavy Commercial Vehicles (M&HCV) in August 2022, including trucks and buses, stood at 12,069 units, compared to 8,962 units in August 2021.

Hyundai Motor India

Hyundai Motor India Ltd, a wholly-owned subsidiary of Hyundai Motor Company (HMC), registered domestic sales of 49,510 units and export sales of 12,700 units, with cumulative sales of 62,210 units in August 2022. The total sales increased by 5.3% on a YoY basis.

Mahindra & Mahindra

Anand Mahindra-led Mahindra Auto sold 29,516 SUVs, a growth of 87% YoY, and overall 59,049 vehicles in August 2022. The company registered its highest SUV sales for the second consecutive month. The PV segment, which includes UVs, cars and vans, sold 29,852 vehicles in August 2022, a growth of 87% as compared to 15,973 units sold in the same period last year. Mahindra's exports for the month declined 8% YoY to 2,912 vehicles. In the commercial vehicles segment, Mahindra sold 21,492 vehicles in August 2022.

Kia India

Kia India, a subsidiary of South Korea-based Kia Motors, registered the sale of 22,322 units of domestic sales in August 2022, with Y-o-Y growth of 33.27%. The Seltos led Kia India's sales chart at 8,652 units, followed by the Sonet, Carens and Carnival with 7,838, 5,558 and 274 units, respectively. Kia India sold 1,66,167 units in the domestic market in the first 8 months of CY22, 29% higher than the same period last year. August 2022 also marked the 3rd anniversary of Kia in India.

MG Motor India

MG Motor India sold 3,823 units in August 2022. The company says the launch of the Advanced Gloster could double the sales of the Gloster model. The Next-Gen Hector, slated for a year-end launch, is expected to add to the growing momentum. MG Motor, the Indian subsidiary of Chinese automotive manufacturer SAIC Motor, says the volatility in supply chains continues to cause many production challenges, though it is expected to improve in the next few months.

Toyota Kirloskar Motor

Toyota Kirloskar Motor, a joint venture between Toyota Motor Corporation and Kirloskar Group, has said the company sold a total of 14,959 units in August 2022, registering a growth of 17% YoY. TKM sold 12,772 units in August 2021. The company says its cumulative wholesales from April to August 2022 witnessed 68% growth on a YoY basis.