June 2023 sales figures reveal the top contenders in the Indian car market, with Maruti Suzuki reclaiming its position as the frontrunner among the top 5 car companies.
The majority of buyers in India continue to prefer passenger vehicles priced up to Rs 10 lakh, including sedans, hatchbacks, and SUVs.
Following Maruti Suzuki, the list includes Hyundai, Tata, Mahindra, and Toyota, each contributing significantly to the market.
Let’s take a closer look at the sales performance of these top 5 car companies.
Maruti Suzuki had Unmatched Sales
Maruti Suzuki’s sales in June 2023 soared to an impressive 1,59,418 vehicles, surpassing the 1,55,857 units sold in the same month last year. While the company witnessed a 2 percent year-on-year growth, a slight decline of 7.43 percent was observed on a monthly basis.
Hyundai sustained it’s Growth in Sales
Hyundai, a close competitor, recorded sales of 50,001 vehicles in June 2023 compared to 49,001 units in the corresponding period last year. This indicates a commendable 2.04 percent annual growth for the company.
Tata Motors emerged as a Strong Player
Tata Motors, the third-largest car company in India, reported the sale of 47,235 vehicles in June.
This represents an increase from the 45,197 vehicles sold in the same month the previous year.
Notably, Tata Motors experienced a remarkable 95 percent year-on-year growth in electric vehicle sales, selling 7,025 units in June 2023.
Mahindra showed Impressive Performance
Mahindra Auto achieved a significant milestone by selling 62,429 vehicles in June 2023, marking a notable 22 percent increase. Out of these, 32,585 units were SUVs. In the domestic market, Mahindra sold 32,585 utility vehicles, while the total, including exports, stood at 33,986.
Toyota is seen strengthening its Presence
Toyota Kirloskar Motor witnessed a substantial increase in sales, with 19,608 vehicles sold in June 2023, reflecting a 19 percent growth compared to the same period last year.
The performance of these top 5 car companies showcases their resilience and ability to meet the evolving preferences of Indian consumers.
As the market continues to witness competition, it will be interesting to see how these companies strategize and innovate to maintain their momentum in the coming months.
