[volkman10]

Highlights:

- H1 2023 registered the highest-ever half-yearly sales of 20,11,062 vehicles.

- The average monthly volume in 2023 was 3,35,177 the highest in history.

- Improved supply-side situation and strong demand for large PVs are the major driving factors.

- SUV/Crossover body styled products now command a 46% share of the Indian passenger vehicle market.

- The hatchback segment is now reduced to 33% due to a lack of demand for entry-level products.

- MUVs' and sedans’ shares remained flat.

- The top three brands control 70% of the Indian passenger vehicle market.

-Mahindra (+1.7%) and Toyota (+0.8%) gained significant market share.

-Hyundai, Tata, Mahindra, Kia, Toyota, and MG posted their best-ever H1 sales in 2023.

Indian mass market PV industry





Body style market share





High growth segments

4m monocoque SUV/crossover



Mid-size monocoque SUV/Crossover (~4.3m)

The entry of new products from Maruti-Toyota has expanded the segment further. Still, the segment is strongly dominated by Hyundai-Kia (53%) and Maruti-Toyota (32%). Hyundai is selling, even more, Creta than ever before, though things will change with the upcoming facelift of the Kia Seltos. The rest of the new products are reduced to a mere 15% in the segment.

Premium ladder-frame SUV (4.5m+)

On average, Toyota has sold over 3,000 copies of the Fortuner in H1-2023, decimating the lone competitor, MG Gloster.



Manufacturer-wise analysis:

- Among the old players, Hyundai, Tata, Mahindra, and Toyota posted their highest H1 sales in H1-2023.

- Among new entrants, Kia and MG have posted the best sales figures.

- Mahindra (+1.7%) and Toyota (+0.8%) gained significant market share.

- Tata Motors was just 20,978 units short of the #2 position in H1-2023.




Toyota -Suzuki partnership yields desired result:

- Cross badged products (contribute 43% of sales) keep its sales register ringing all the time.

- Higher sales of high-value products like the Innova (Hybrid and Diesel), Fortuner, Land Cruiser 300, and Vellfire in H1-2023.




Source: Link

[DicKy]

Originally Posted by volkman10

Toyota -Suzuki partnership yields desired result:

- Cross badged products (contribute 43% of sales) keep its sales register ringing all the time.

- Higher sales of high-value products like the Innova (Hybrid and Diesel), Fortuner, Land Cruiser 300, and Vellfire in H1-2023.

Interesting bit. It took Toyota almost 10 years to reach the sales volume that they had in 2012. A few points that I noticed.

- Innova numbers stay stable around the 5-7k mark.
- The Fortuner sales figures have gone up 3x times, eventhough the prices have also gone up roughly 2.5x times. Lack of competition and also the luxury cars pricing going up may have also helped sales.
- The Glanza has replaced the Etios Liva numbers, but not the Etios Liva+ Etios numbers.
- Even if we take into account the sedan->crossover change, the Hyryder has replaced the Corolla numbers 3x times.
- Camry has managed to increase numbers with local assembly, hybrids and lack of competition but never manageto match the Superb's sales numbers. Spurts of sales growth for the Camry is at times when the Superb is not available in the market for whatsoever reason.
- Regarding CBUs, it shows that proper products will bring in the sales. Leaving the CBU SUVs, Toyota must be really happy with the number that the Vellfire is doing. In the high double digits or low triple digits, have to be Toyota's most successful CBU in India. Again, niche segment and no direct rivals.

[abhi_tjet]

Thanks for sharing volkman10!

Indian car market is clearly having a boom with new technology, new variants and new features aplenty in mass market cars.

Jeep India is still somehow towards downhill trajectory with a single engine option and zero presence in 15-25 Lacs segment.

FIAT India in its new innings survived a decade before passing the baton to Jeep. I doubt if Jeep would be able to survive that long.

[gnome]

40% increase in 10 years is quite tepid. No wonder most players quit Indian market.

[abaliga]

Last 2 years have been amazing for the Industry, passenger vehicle market has shown noteworthy resilience to the otherwise trying economic situation globally, however, market share of most manufacturers besides the top three is not healthy at all, hope this changes with more EVs being launched, our market deserves at least 6-7 manufacturers having a decent share of the pie (over 5%) for the following reasons

- We dont need a monopoly of top 2 or 3 manufacturers, not good for the business and the industry in general

- Though Maruti deserves the market share they enjoy, its dangerous with so many unsafe vehicles being rolled out year on year, we need a higher share of at least 5% or higher for Toyota, Honda and VW group

- VW group needs to focus on availability of parts and more ICE products, based on my interactions with the SAs of Skoda and VW, there is no plan to launch a sub 4m or any ICE vehicle in the near future

- Honda needs to wake up from the slumber they are in, Elevate alone is not going to save them, they need to start offering turbo petrols/hybrids, its time they realize that we are not a cost sensitive market but a value centric one

- Toyota should introduce some of their global products in addition to the rebadged Marutis

- And finally Hyundai/Kia and Maruti need to start making their cars safe as of yesterday, its not like their cars are cheap (Brezza costs over 17 lakhs for the top end AT, Grand i10 cost over a million bucks for the top end), other manufacturers gaining market share will force them to improve safety. Hyundai at least has started to take note on this front

[chinkara]

Originally Posted by gnome

40% increase in 10 years is quite tepid. No wonder most players quit Indian market.

It is 58% (2013 is 10 years and 2012 was a peak).
Could have been better, but better than most car markets. Particularly in the COVID context.

[SoumenD]

Damn all this while there’s a recession going on in same period with thousands of layoffs. Or is it(slowdown/layoffs) only in IT and other sectors are doing fine leading to such bumper sales?

[sf71hvettel]

Originally Posted by chinkara

It is 58% (2013 is 10 years and 2012 was a peak).
Could have been better, but better than most car markets. Particularly in the COVID context.

Back of the evelope calculation shows 6% GDP growth rate for the last 10 years and 5.2% CAGR for vehicle retail sales. Not bad, but not great either given the incredibly low penetration of cars per capita in India.

[chinkara]

Originally Posted by sf71hvettel

Back of the evelope calculation shows 6% GDP growth rate for the last 10 years and 5.2% CAGR for vehicle retail sales. Not bad, but not great either given the incredibly low penetration of cars per capita in India.

Completely agree with your analysis.

Again COVID is a very big caveat here. In times of uncertainty, major capital purchases are postponed. While long term trend of Auto is GDP+, you totally understand it being GDP- in this case.

[volkman10]

Top 30 selling cars of H1 2023!




- Maruti Wagon-R continues to be the best-selling passenger vehicle in India.

- Tata Nexon is the best-selling SUV/crossover, followed by Hyundai Creta.

- 4 SUVs/Crossover occupy the top 10 ranking, followed by 4 hatchbacks and only one sedan and MUV.

- The top 30 products command 83% of the PV market share.

- 17 of the top 30 products were having some form of discount throughout 2023.

- The top-10 list is still dominated by Maruti’s products, followed by Tata, now with two products, and Hyundai, with only one product.

- SUVs, MUVs, and crossovers are now taking over the top ranks from hatchbacks and sedans.

- High CNG prices have adversely affected sales of some products from Maruti, Hyundai, and Tata.


Maruti Suzuki

The Wagon-R, with its twin engine and bi-fuel option, continues to carry the tag of the best-selling PV in India. Sales of the CNG version were low due to higher CNG prices, and all variants were selling at a discount in 2023.

Entry-level products from Maruti are struggling due to a lack of demand.

Hyundai-Kia

The Hyundai Creta is the best-performing product here.

Kia Carens has got very good acceptance in the Indian market.

The availability of BS6-RDE compliant diesel engines is also a key driver of Hyundai-Kia SUV/crossover products in India.

The i10 and i20 slipped out of the top 10 category and are available with discounts for several variants.

Tata Motors


Tata Nexon has shown phenomenal growth in successive years with feature additions. BEV mix dropped to 12% as Tata has shifted production capacity to Tiago.

Punch too is following in the successful footsteps of Nexon and has made it to the top 10 tally by creating a whole new micro-SUV/Crossover category, which is currently all to itself.

The BEV version has given a new lease of life to the otherwise languishing Tata Tiago.

Mahindra

Mahindra’s diesel Thar, XUV 700, and Scorpio-N are doing exceptionally well, however, petrol variants of Thar is now available with some discounts.


Toyota

The Innova, the lone product from Toyota on this list, is back on track without any discount and has remained uncontested so far with diesel (43%) and strong-hybrid (47%) drivetrain offering.

Link

[wheelguy]

1. Hyundai is a healthy 40% chunk of its Creta sales from diesel engine, Kia got 47% of the Seltos numbers from diesel!

2. Maruti Ertiga and Hyundai Aura are getting more than 71% of their sales from CNG alone, impressive numbers, mostly driven by taxi market I think, most or say almost all the Ola I see around are Hyundai Aura or Grand i10 here.

3. For those who are curious about Crysta vs Hycross breakup, we can now assume that around 43% of reported numbers belong to Crysta and the rest belong to Hycross.

4. Surprisingly, Maruti is getting only 13% of Grand Vitara sales from hybrids!

5. Tiago is getting 40% of its sales from electric drivetrain, rather than eating into the sales of regular Tiago it added to the sales.

[volkman10]

Electric and Hybrid Vehicle Sales Analysis for Q2 2023.

- Battery Electric Vehicles (BEV) sales reached an all-time high level of 26,794 units in Q2-2023, which is 2.7% of total PV sales.

- Strong-hybrid vehicle sales dropped to 14,399 units as Toyota dropped production despite having a strong order backlog.

- Combined sales of strong-hybrids and BEVs dropped to 4.1%, from 4.3% in Q1-2023.

- Tata and Toyota continue to dominate the BEV and strong-hybrid EV markets with 71% and 69%, respectively.

- Tata Tiago EV is the best-selling BEV product, and Toyota Innova Hycross is the best-selling strong-hybrid EV in Q2 2023.





Manufacturer



- As the BEV market expands with new products from rivals - Tata's market share has fallen to 71%.

- MG has been doing consistent numbers, as BYD and Citroen’s dispatch dropped in Q2-2023.

- Toyota continues to lead HEV sales with a drop in share due to less production and dispatch.

- Maruti comes next, and Honda’s sales have less traction due to higher pricing.

Body style

The introduction of the MG Comet increased hatchback share in the BEV segment to 49%, and SUVs are next at 39%. Currently, the HEV segment is limited by UV-dominated body styles.

Products



- The Tata Tiago EV was the best-selling BEV in Q2-2023.

- Amid production constraints on Tata BEVs, Tata seems to have shifted production from Nexon EV to Tiago EV.

- Deliveries of the Mahindra XUV400 were flat, and deliveries of the Citoren eC3 dropped in Q2-2023.

- BYD Atto3 average monthly sales dropped to 137 units in Q2-2023 from 288 in Q1-2023.

- The Innova Hycross was the best-selling HEV in Q2-2023, followed by Maruti’s Grand Vitara.

Link

[SoumenD]

So as expected Tiago Electric has been a hit for TATA selling 19k+ in H1 of 2023. Almost double the number achieved by its sibling Nexon EV i.e. 10k.

Understandable as it rectifies the biggest shortcomings i.e. not-so-smooth engine & AMT and makes for a wonderful city car. Am sure Punch & Altroz EV would be lapped up similarly once avialble.

Edit :

Originally Posted by DicKy

Double the Nexon's numbers, yes. But guess you got the figures wrong. The Tiago did 10k odd numbers. Total BEV numbers for TATA is 19k.

I was looking at the chart in the post by volkman10.

Originally Posted by volkman10

Top 30 selling cars of H1 2023!

Tiago numbers for H1 is 48574. 39.2% of that is ~19k



Nexon numbers for H1 is 87501. 11.5% makes ~10k?


What am I missing?

[DicKy]

Originally Posted by SoumenD

So as expected Tiago Electric has been a hit for TATA selling 19k+ in H1 of 2023. Almost double the number achieved by its sibling Nexon EV i.e. 10k. .... Am sure Punch & Altroz EV would be lapped up similarly once avialble.

Double the Nexon's numbers, yes. But guess you got the figures wrong. The Tiago did 10k odd numbers. Total BEV numbers for TATA is 19k.

Not sure if the Altroz EV will enter production. But the Punch EV. Maahn. That would be a bumper hit!!! The only problem with the current Punch is that anaemic engine, more so with that AMT. In BEV form this could be the perfect first car/ city car/ second car et al.

[volkman10]

BS6 RDE phase diesel passenger vehicle sales analysis - Q2 2023

- Diesel passenger vehicle sales now are at 18% of the Indian PV market in the BS6-RDE emission phase.

-31 products with diesel engines from 9 brands were compliant with BS6-RDE emission standards.

- 179,856 units of diesel PV were sold in Q2-2023.

- Mahindra dominates the diesel PV market with a 46% market share.

- SUV/Crossover products constitute 88% of the diesel PV market.

- The Mahindra Bolero and Bolero Neo combined were the best-selling diesel products in Q2-2023.

- Even in the luxury segment, the diesel mix came down to 38%, however, Mercedes, BMW, and JLR have over 50% diesel mix, which is especially beneficial for their large SUVs.

- Mahindra continues to dominate the diesel PV market, with its wide range of diesel UV products contributing 82% of its sales.

- Hyundai-Kia’s combined market share stood at 28% as they share diesel engines across the product portfolio.

-Toyota saved two large diesel engines for its UV range, contributing 42% of its sales.

- Tata retained a 1.5-liter in-house-developed diesel engine with cost-effective LNT technology.

- Jeep’s 2.0L diesel engine actually commands 9% market share as it does duty on MG and Tata vehicles too.

- As vehicle size goes up, diesel becomes the preferred choice, as it offers better fuel efficiency, thus a lower running cost, and higher torque, which is especially beneficial for large-sized UVs.

- SUV body styles dominate the diesel scene for monocoque as well as ladder-frame chassis.










Link