India’s car sales got off to a slow in the fiscal after a year in which despite several challenges across the supply chain and high fuel prices. The top three OEMs all recorded a dip in sales with Maruti seeing an 11 percent fall from 124,640 units in March 2022 to 110,841 units in April 2022.
Hyundai and Tata saw their sales fall by between one and two percent in April as compared to March but for the year-earlier month, Tata saw a 66 percent increase as compared to the year-earlier month while Hyundai saw a 10 percent fall.
In terms of marketshare, Maruti and Hyundai saw their shares dip by 6 percent and 2.3 percent respectively while Tata saw its share up by 5.7 percent. Among the companies that saw a significant increase in marketshare was Toyota which went up from 3.5 percent to 5.4 percent.
Mahindra and Kia India saw their respective market shares go up in CY22 and both are now tied at 6.8 percent.
FY22 exports help cushion sharp drop in domestic auto sales