The sales of passenger automobiles in India's automotive industry in February 2023 received a mix of reactions. While Kia and Toyota saw an increase in sales, Maruti Suzuki, Hyundai, and MG recorded declines.
The largest automaker in India, Maruti Suzuki India Ltd, recorded an increase of 5% with total sales of 172,321 units in February 2023. Compared to 137,607 units sold in the same month last year, the company sold 150,823 units in the domestic market this month. During the same month last year, Maruti Suzuki sold 19,691 cars, versus 21,875 units this month. It succeeded in selling 79,898 units in the compact sector and 33,550 units in the SUV segment. Nevertheless, exports decreased from 24,021 units in February 2022 to 17,207 units.
The second-largest automaker in India, Hyundai Motor India Ltd, reported sales of 57,851 vehicles in contrast to 53,159 in the same month in 2022. It recorded a 9% YoY increase in revenues. The company sold 47,001 units at home versus 44,050 units abroad (up by 7%). Hyundai exported 10,850 units in total. Compact car sales for the company fell by 8.9% to 17,895 units, including those for the Santro, Grand i10, Nios, and Aura.
Recent studies claim that Kia sales significantly increased in February 2023. With a total of 24,600 units sold, the automaker saw a 35.8% increase in sales compared to the same period last year, when 18,121 vehicles were sold. Also, Kia noted that it had successfully sold 76,904 units of its MPV, the Kia Carens, in India so far as it marked the one anniversary of the model. Sales for the well-liked Sonet and Seltos were 9,836 and 8,012 units, respectively.
The company's total sales in February 2023, according to data given by MG Motor India, were 4,193 vehicles. The Chinese-owned British company reported a year-over-year reduction of 7.4% when compared to the 4,528 vehicles sold during the same month in 2022. At the same time, the company saw a gain of about 2% month over month when compared to the 4,114 units sold in January 2023.
With a total of 15,338 units sold last month, Toyota Kirloskar Motor reported a considerable rise in sales compared to the same month last year. Due to the release of its new models, the Toyota Innova Hycross and Urban Cruiser Hyryder, the company shipped 8,745 units in the domestic market.
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