Hot on the heels of our comprehensive mid-size SUV sales report, where Mahindra Scorpio/N and XUV700 took the spotlight, we now turn our attention to the bustling sub-compact SUV segment. With dimensions ranging from 3.8m to 4m, this category witnessed a dynamic sales scenario.
Key Features
1. Tata Nexon and Punch: A Powerhouse Duo: In the competitive 3.8m to 4m segment, Tata Nexon and Punch showcased their mettle by securing the highest sales figures.
2. Maruti Brezza: A Steady Performer: Amidst the sub-compact SUV showdown, Maruti Brezza maintained its status as a steady performer.
3. Hyundai Venue: Adding Flair to the Mix: Hyundai Venue, with its contemporary design and tech-savvy features, added flair to the sub-compact SUV mix.
4. Sales Dynamics: YoY Growth vs. MoM Trends: Analyzing the sales dynamics of the sub-compact SUVs, a nuanced picture emerges. While the segment witnessed notable year-on-year (YoY) growth, month-on-month (MoM) figures displayed a contrasting trend.
5. Tata Nexon vs. Punch: Unpacking the Success: Tata Nexon and Punch, leading the sales charts, invite closer scrutiny.
6. Market Response to New Entrants: As the sub-compact SUV segment evolves, new entrants are continually vying for a slice of the market share.
7. Future Outlook: Emerging Trends and Consumer Preferences: The sub-compact SUV segment is poised for continued evolution.
8. Manufacturer Strategies: Navigating the Competitive Terrain: In a market marked by cutthroat competition, manufacturers are employing strategic maneuvers to stay ahead.
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In the bustling sub-compact SUV market, November 2023 brought significant shifts in sales dynamics. The total sales in this segment reached 1,02,317 units, marking an impressive YoY growth of 30.89%. While Tata Nexon claimed the top spot in sales, the overall market experienced an 8.01% MoM decline from the preceding month.
Key Points
1. Overall Segment Performance: In November 2023, the sub-compact SUV segment witnessed a robust YoY growth of 30.89%, with total sales reaching 1,02,317 units. However, a month-on-month comparison revealed an 8.01% decline from October 2023, signaling a nuanced market landscape.
2. Tata Nexon Takes the Lead: Tata Nexon emerged as the leader in the sub-compact SUV sales race, despite experiencing both YoY and MoM de-growth. The model secured 14,916 units in the past month, reflecting a 6.02% YoY decrease. Despite this, Tata Nexon commanded a substantial 14.58% market share, showcasing its enduring appeal among buyers.
3. Tata Punch Surges Ahead: Another Tata offering, the Punch, secured the second position with an 18.56% YoY increase in sales. The model witnessed a notable uptick from 12,131 units in November 2022 to 14,383 units in November 2023.
4. Maruti Brezza Holds Strong: Maruti Brezza maintained its position as a formidable player with an 18.27% YoY growth.
5. Hyundai Venue and Other Contenders: Hyundai Venue also contributed to the segment's growth, posting a 4.12% YoY increase with sales reaching 11,180 units. Maruti Fronx, Hyundai Exter, and Maruti Jimny. Notably, the new Hyundai Exter secured the seventh position with 8,325 units sold.
6. MoM Dynamics and Model Performance: While Mahindra Bolero claimed the sixth position with 9,333 units sold, reflecting a 16.90% MoM growth, other models experienced varied performances. Kia Sonet faced a MoM dip of 17.88%, anticipating the upcoming Sonet facelift. Mahindra Thar showcased a robust 45.72% YoY growth, posting 5,810 units in sales.
7. Mahindra XUV300 and Other Entries: On a contrasting note, Mahindra XUV300 witnessed a 20.84% YoY dip, securing 4,673 units in sales. Nissan Magnite demonstrated a 2.38% YoY growth with 2,454 units sold. However, Renault Kiger faced a significant 76.73% YoY decline, registering only 530 units compared to 2,278 units in November 2022.
Sub-Compact SUV Sales Nov 2023 – Month-on-Month
Decline On a MoM basis, almost every sub-compact SUV has seen lower sales. It was only the Hyundai Exter, at No. 7 on this list that has posted a 2.82 percent growth to 8,325 units and Mahindra Thar at No. 10 that saw a 3.88 percent growth in sales to 5,810 units in November 2023. Tata Nexon MoM sales dipped by 11.67 percent from 16,887 units sold in October 2023 while Punch sales dipped 6.10 percent from 15,317 units sold in the previous month. Maruti Brezza (16,050 units) and Hyundai Venue (11,581 units) posted 16.55 percent and 3.46 percent Mom de-growth respectively. Maruti Fronx (11,357 units) and Mahindra Bolero (9,647 units) also saw sales decline on a MoM basis while Kia Sonet (6,493 units), Mahindra XUV300, Nissan Magnite, Maruti Jimny and Renault Kiger each have seen sales decline MoM in November 2023 when compared to sales in October 2023.