December 2023 Car Sales: Maruti, Tata, Hyundai, Mahindra, Toyota, Kia, Honda, VW, Skoda

December 2023 Car Sales: Maruti, Tata, Hyundai, Mahindra, Toyota, Kia, Honda, VW, Skoda

The Indian automotive sector experienced notable transformations and consistent expansion in December 2023, as major automobile manufacturers divulged their sales statistics for the month. In addition to illuminating the industry's numerical features the painstakingly gathered and examined data presents a thorough narrative that explains the complexities of shifting consumer preferences and the market's dynamic nature.

Car Sales in December 2023 – Top Performers

In the hierarchy of automobile brands, Maruti sustained its commanding position, notwithstanding a marginal decline. The brand sold 1,04,778 units in December 2023, contributing significantly to the market with a 36.48% share. Despite a 6.46% dip compared to December 2022, Maruti maintained its dominance. Tata and Hyundai showcased praiseworthy growth, with Tata experiencing an 8.56% surge (43,471 units), and Hyundai recording a 10.09% rise (42,750 units) compared to the same period in the previous year.

Toyota emerged as an extraordinary success story, registering a staggering 105.09% year-on-year growth by selling 21,372 units compared to 10,421 units in December 2022. Mahindra marked a substantial 24.13% increase, selling 35,171 units, indicating a positive response to its lineup. However, Renault faced a steep decline of 67.55%, selling 1,988 units compared to 6,126 units in December 2022, prompting a thorough examination of its market strategy. Citroen and Jeep encountered challenges, with Citroen experiencing a decline of 30.26% (650 units), and Jeep declining by 43.30% (436 units) and this suggests the need for adjustments in their strategies to align with market demands.

Month-On-Month Comparison – Sales Decline

Maruti, while maintaining its leading position, witnessed a notable drop of 21.90%, selling 1,04,778 units in December compared to 1,34,158 units in November 2023. Tata and Hyundai also faced declines of 5.64% and 13.55%, respectively, with sales figures of 43,471 units and 42,750 units in December.

Mahindra and Kia experienced drops of 12.03% and 44.93%, selling 35,171 units and 12,536 units in December, respectively. In contrast, Toyota witnessed a significant upsurge, boasting a 26.28% increase in sales from November 2023, selling 21,372 units in December, indicating a positive market response to its offerings.

Volkswagen (VW) and Skoda showcased impressive gains, with VW recording a remarkable 59.29% increase, and Skoda experiencing a 23.45% surge in sales compared to the previous month. However, Renault and Nissan continued to grapple with declining figures, witnessing drops of 18.92% and 12.39%, respectively, in December 2023. Jeep and Citroen both showed slight advances but they were unable to achieve a sizable amount of market share, suggesting problems with their marketing approaches.

Market Share Analysis

Maruti sustained its dominant position despite a decline in market share, dropping from 40.71% in December 2022 to 36.48% in December 2023, marking a 4.23% decrease year-on-year. With their market shares showing slight rises to 15.14% and 14.88%, respectively, Tata and Hyundai are on the right track as of December 2022.

Mahindra saw a significant growth in market share, rising from 10.30% in December 2022 to 12.25% in December 2023—a 1.95% annual increase. Toyota emerged as a significant gainer, expanding its market share from 3.79% in December 2022 to 7.44% in December 2023, representing a substantial 3.65% increase year-on-year. In contrast, Renault faced a substantial decline in market share, dropping from 2.23% in December 2022 to 0.69% in December 2023, signaling a concerning 1.53% decrease year-on-year.