Indian automobile industry witnessed a bumper CY2022 with the highest-ever sales at a whopping 3.78 million (37 lakh+) units.
Maruti and Hyundai were the top sellers in CY2022 in India, with total sales crossing 3.78 million (37 lahks) for the first time ever. These are positive signs for our industry which is a significant contributor to the overall economy of India. The previous couple of years were overshadowed by the pandemic as every industry suffered terribly. But CY2022 catered to the pent-up demand and the need for personal mobility leading to unprecedented sales. This marks a year-on-year growth of 24% compared to CY2021.
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Maruti and Hyundai Sales in CY2022
Unsurprisingly, Maruti Suzuki remained the largest carmaker in the country and posted 16.06 lakh (domestic) sales in FY2023. This is a healthy 21% growth year-on-year, which is remarkable for a brand that is already so huge. After that, Hyundai Motors reported sales of 7.20 lakh (5.68 domestic and 1.53 exports) in FY2022-23. This marks an impressive 17.9% year-on-year growth. Its popular products like the Creta, Alcazar, Tucson, Venue, Aura, and Grand i10 Nios posted their highest sales ever.
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Other Carmakers
In addition, Toyota witnessed an incredible year in FY23, with a growth of 41% year-on-year. Similarly, Kia posted a total sales of 2.69 lakh units in FY2022-23, making a surge of 44% on a year-on-year basis. Homegrown Tata Motors posted a 45% yearly rise in sales, having sold almost 5.39 lakh units in FY2022-23. The other Indian auto giant Mahindra witnessed a monumental year-on-year growth of almost 65%, with 3.35 lakh units sold in CY2022, up from 2.03 lakh units sold in CY2021. Only Nissan and Renault posted negative growth.
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Segment-Specific Sales
Going a layer deeper into the most popular segments, no prize for guessing that the SUV segment remained the fastest-growing segment in the country. In FY23, the SUV segment registered a surge of 35% in year-on-year sales. This is understandable since SUVs are now coming in all sizes, enhancing accessibility for buyers. The hatchback segment also posted a decent 20% growth in sales despite remaining under pressure from the SUVs. This year promises to be another bumper year for the Indian automobile market, with over 5.50 lakh pending orders.
