Total 2.93 lakh PVs sold in December 2023; Maruti Suzuki, Tata Motors among top sellers: FADA

Total 2.93 lakh PVs sold in December 2023; Maruti Suzuki, Tata Motors among top sellers: FADA

Among the top sellers were Maruti Suzuki India (MSI) Ltd, Tata Motors Ltd, Hyundai Motors India, Mahindra & Mahindra Ltd (M&M), Kia Motors India and Toyota Kirloskar Motor

Maruti Suzuki comprised a lion's share to the passenger vehicle sales across the country last month
Business Today Desk
  • Jan 08, 2024,
  • Updated Jan 08, 2024, 9:36 AM IST

A total of 2,93,005 passenger vehicles (PVs) were sold in December 2023 as compared to 2,85,429 PVs sold in December 2022. Among the top sellers were Maruti Suzuki India (MSI) Ltd, Tata Motors Ltd, Hyundai Motors India, Mahindra & Mahindra Ltd (M&M), Kia Motors India and Toyota Kirloskar Motor, according to the recent data by the Federation of Automobile Dealers Associations (FADA). 

Maruti Suzuki comprised a lion's share to the passenger vehicle sales across the country last month. MSI sold a total of 1,18,295 PVs in December 2023 and comprised 40.37 per cent of the market share captured by passenger vehicles in India compared to 1,18,194 PVs sold in the same period last year and a market share of 41.41 per cent.

Following in closely were automakers like Tata Motors Ltd, Hyundai Motors India, Mahindra & Mahindra Ltd (M&M), Kia Motors India and Toyota Kirloskar Motor. Tata Motors sold a total of 43,859 PVs and commanded 14.97 per cent market share in the last month versus 37,190 passenger vehicles sold in December 2022. 

Hyundai Motors and M&M sold a total of 39,501 and 31,544 passenger vehicles in December 2023 respectively. Kia Motors India logged in sales of 15,765 PVs in the same period. Toyota Kirloskar Motor, on the other hand, sold a total of 14,389 units of passenger vehicles in December 2023, the FADA data further said. 

PV OEMs December 2023 sales Market share in December 2023 (in %)
Maruti Suzuki 1,18,295 40.37
Tata Motors 43,859 14.97
Hyundai Motor India 39,501 13.48
Mahindra & Mahindra 31,544 10.77
Kia Motors India 15,765 5.38
Toyota Kirloskar Motor 14,389 4.91

Source: FADA release

Commenting on the sales trends in the passenger vehicles (PVs) segment, FADA President Manish Raj Singhania said that SUVs saw strong demand in the segment. He added that the surge in SUV sales was triggered by year-end promotions and the introduction of new models.

"In the PV category, SUVs in particular saw strong demand, with extended waiting periods for key models. This surge was fuelled by aggressive year-end promotions and the introduction of new models. However, a significant concern was the high inventory levels, reflecting over-supply. This ongoing issue of high PV inventory, despite a slight decrease by the year's end, remains a critical area for OEMs to address, emphasizing the need for further moderation in inventory management," Singhania said. 

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