The financial year 2020-21 had started off on a poor note with Coronavirus (COVID-19) affecting both lives and businesses in the country. We have witnessed a gradual improvement in car sales in the last few months and so far, October has been the most generous month for car manufacturers. The auspicious period of Navaratri followed by the festival of Dussehra has boosted car sales for all manufacturers in the country.
Interestingly, the top-three car manufacturers like Maruti Suzuki, Hyundai and Tata Motors have registered a growth of 17.6 per cent, 13.2 per cent, and 79.2 per cent, respectively, as compared to October 2019. Apart from these three, other car manufactures have also registered a healthy growth in sales in October 2020, this list includes – Kia Motors (63.5 per cent), Mahindra (2.3 per cent), Toyota (4.4 per cent), Honda (8.3 per cent), Ford (1.0 per cent), MG (6.1 per cent), and Skoda (3.1 per cent). Car manufacturers like Renault, Volkswagen, Nissan and FCA have witnessed a drop in sales by 4.4 per cent, 36.1 per cent, 30.1 per cent, and 4.6 per cent, respectively, as compared to the same period in 2019.
Maruti Suzuki sold 1,63,656 units in October 2020 as compared to 1,39,121 units in the same period last year. Interestingly, the company had also witnessed 11 per cent growth last month with 1,63,656 unit sales as against 1,47,912 units sold in September 2020. The top-three sellers for India’s largest car manufacturer last month were – the Swift (24,585 units), Baleno (21,971 units), and the Wagon R (18,703 units).
Hyundai, the second bestseller in October sold 56,605 units last month as against 50,010 unit sales in October 2019. The company has also registered 13 per cent growth with 56,605 units sold last month as against 50,313 units sold in September 2020. The top-three sellers for Hyundai last month are – the Creta (14,023 units), i10 Grand (14,003 units), and the Venue (8,823 units).
Tata Motors emerges as the third bestseller in October with 23,600 unit sales as against 13,169 unit sales in the same period last year. Tata Motors has witnessed 11 per cent growth in October with 23,600 unit sales as compared to 21,200 unit sales in September 2020. The top-three sellers for the company last month were – the Nexon (6,888 units), Altroz (6,730 units), and the Tiago (6,083 units).
Kia Motors is growing strong the in Indian market with just a three product line-up – Seltos, Sonet, and the Carnival. The company is close on heels to Tata sales with 21,021 unit sales in October 2020 as against 12,854 unit sales on October 2019. In terms of month-on-month sales, Kia has registered 13 per cent growth in sales in India last month as compared to the previous month with 18,676 unit sales.
Mahindra has registered a 2.3 per cent growth in sales last month, however, the XUV300 and the Bolero have been the only two models to perform well last month with 60 per cent and 30 per cent growth in sales, respectively, as compared to the same period last year.
Toyota registered 4.4 per cent growth in sales last month, mainly due to the Glanza, Fortuner, and the Vellfire, with a growth of 11 per cent, 13 per cent, and 45 per cent respectively, as compared to same period last year. However, even with a 12 per cent drop in sales, the Innova Crysta remains to be the highest seller for the company with 4,477 units sold last month.
Honda City is the lone model for the company to stay afloat last month. Honda sold 4,124 units of the City last month as against 1,887 units sold in the same period last year, thereby registering a growth of 119 per cent. Honda Amaze sales have dropped by eight per cent with 4,709 units sold last month as against 5,134 unit sales in October 2019.
Ford has managed a bleak one per cent growth with contributions from the bestseller Ecosport, Freestyle, and the Endeavour. Ford has registered six per cent growth for the EcoSport with 4,599 units sold last month as against 4,326 unit sales in the same period last year. The company sold 848 units of the Freestyle and 852 units of the Endeavour in India last month, with a growth of 68 per cent and 22 per cent, respectively.
Skoda Rapid has been the only key contributor to the company sales in India. Skoda sold 1,024 units of the Rapid last month, along with 184 units of the Superb, 182 units of the Karoq, and 31 units of the Octavia.
This month, we anticipate the highest car sales for this fiscal with the festive Diwali period. Given the festive season, car sales are likely to boost further for manufacturers that have recently introduced a new product in the Indian market.