Tata Motors, Maruti Suzuki and Mahindra battle for UV leadership in FY2023 (April - Dec22)
-Of the 15 OEMs in the fray, four – Tata Motors, Maruti Suzuki, Mahindra & Mahindra, and Hyundai Motor India – have each sold in excess of 200,000 units in April-December 2022.
- The first three are in a neck-and-neck battle for supremacy. Tata Motors is ahead of Maruti Suzuki by 8,398 units, and Maruti is ahead of Mahindra by just 2,323 units. Fourth-placed Hyundai is 33,379 units behind M&M at the end of December 2022.
-Tata Motors, Maruti Suzuki, M&M, Hyundai and Kia India – account for 12,05,555 units or 82% of total UV sales.
- Tata Motors: 268,570 units / up 89%, UV market share: 18.27%, up from 13.71% a year ago.
- Maruti Suzuki India: 260,172 units / up 22%, UV market share: 17.70%, down from 20.62% a year ago.
-Mahindra & Mahindra: 257,849 units / up 73%, UV market share: 17.54%, up from 14.37% a year ago.
-Hyundai Motor India: 224,470 units / up 24%, UV market share: 15.27%, down from 17.47% a year ago.
-Kia India: 194,494 units / up 53%, UV market share: 13.23%, up from 12.23% a year ago.
-Toyota Kirloskar Motor: 97,025 units / up 35%, UV market share: 6.60%, down from 6.95% a year ago.
- From a share of 28% in overall passenger vehicle sales in FY2018, the UV segment now accounts for 51% of the PV market in April-December 2022.
- Every second car sold in India now is a UV compared to one in every four PVs sold barely four years ago.
What will FY23 look like?
Will FY2023 see sale of 2 million UVs?
Quote:
Entering into the new year and the 10th month of FY2023, the UV industry’s sales are 530,406 units away from the 2-million milestone in FY2023. UV sales in CY2022 fell short of this big number by 77,234 units with total sales of 19,22,766 units. Hitting the 2-million mark will call for average monthly sales of 176,802 units which, while looking a tad difficult, just might come through.
Meanwhile, with an estimated backlog of around 450,000 to half-a-million UVs (most of them with these top five players), vehicle manufacturers are putting their shoulder to the production wheel to keep their assembly lines busy and cater to demand.
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