05-Apr-2023
2 mins read
Impressive Auto Sales in March 2023: Maruti, Tata Motors, and Hero Moto Lead the Way
The first quarter of 2023 marked a fruitful period for the automobile industry, with the passenger vehicle market registering annual sales of 28.8 lakh units and a growth rate of 26.7%. This exceptional performance, the best in over a decade, was fueled by the sale of 3.36 lakh units in March 2023, compared to 3.22 lakh units in March 2022.
Maruti Suzuki, Tata Motors, and Hero Moto Show Remarkable Growth
Among key players, Maruti Suzuki reported a 21% growth, while Tata Motors saw a 45% year-on-year increase, the highest in the passenger vehicle category. Royal Enfield led the way with a 39% year-on-year growth in the two-wheeler category. Eicher stood out in the commercial vehicle space, boasting a 54% year-on-year increase.
Delving into the Details of Major Automobile Players’ Performance
Passenger Vehicle Sales in February 2023
| Sales | Mar-23 | March 2022 | % Change (YoY) |
| Maruti Suzuki | 1,70,071 | 1,70,395 | -0.19% |
| Hyundai | 55,287 | 44,600 | 23.96% |
| Tata Motors | 44,044 | 42,350 | 4% |
| Mahindra & Mahindra | 35,997 | 27,690 | 30% |
| Kia India | 21,501 | 22,622 | -4.96% |
| Toyota Kirloskar | 18,670 | 17,131 | 8.98% |
Maruti Suzuki Car Sales March 2023: India’s largest carmaker reported flat growth in its passenger vehicle (PV) segment with year-on-year sales of 170,071 units in March. Sales included domestic sales of 136,787 units, sales to other OEMs of 3,165 units, and the highest-ever monthly exports of 30,119 units.
Hyundai Car Sales March 2023: Hyundai recorded an 11.2% increase in total sales (domestic + exports) in March 2023 compared to the previous year. The company registered its highest-ever domestic sales of 5,67,546 units in FY23, with a year-on-year growth of 17.9%.
Tata Motors Car Sales March 2023: The third-largest car manufacturer in India sold 44,044 passenger vehicles in March 2023, witnessing a 4% year-on-year growth. The company’s electric vehicle PV business also saw an impressive 89% year-on-year growth, with 6,509 EVs sold in March 2023.
Mahindra & Mahindra Car Sales March 2023: The company continues to see strong demand in its passenger vehicle segment, selling 35,997 units in March 2023, a 30% year-on-year growth.
Two Wheeler Sales in March 2023 in India
| Sales | Mar-23 | March 2022 | % Change (YoY) |
| Hero Motocorp | 5,19,342 | 4,50,154 | 15.50% |
| HMSI | 2,47,175 | 3,12,650 | -20.94% |
| TVS Motor | 3,07,918 | 2,92,918 | 5.12% |
| Royal Enfield | 72,235 | 67,677 | 6.73% |
Hero Motocorp Sales Figures March 2023: Hero Motocorp sold 519,342 units of motorcycles and scooters in March 2022, registering a 15.5% growth in sales compared to the same month last year. The company sold 53,28,546 units in FY23, marking a healthy 8% growth compared to the previous fiscal year.
TVS Sales March 2023: TVS registered a 5% growth in total two-wheeler sales, with 307,918 units sold in March 2023. Domestic two-wheelers saw a 22% growth, with 240,780 units sold in March 2023.
The impressive growth figures for key players in the automobile industry demonstrate a thriving market in Q1 2023, with the sector achieving its best numbers in over a decade.
