- India’s leading automaker Maruti Suzuki posted robust sales for July 2022.
- Japanese automaker Toyota had its best month ever, driven by Innova Crysta and Fortuner.
- Tata Motors sequentially posted marginal declines, but electric vehicle sales surpassed 4,000 this month.
Auto company investors finally have a reason to cheer – India’s leading automaker Maruti Suzuki, along with Toyota and Mahindra & Mahindra, have released a healthy string of numbers, while Tata Motors witnessed a marginal decline. Together, these automakers accounted for nearly two-thirds of India’s four-wheeler sales in July.
After battling rising commodity prices and fuel price shocks, most automakers posted healthy sales growth in July, with the exception of Kia and MG Motor, which were down 8% and 11% respectively compared to June.
Maruti Suzuki posts a resurgent month
Maruti’s numbers are even more impressive considering that nearly one in two cars sold in July was a Maruti. The compact segment was the most popular, accounting for nearly half of all Maruti sales. This segment includes cars such as the Baleno, WagonR, Swift, Dzire and others.
Other popular Maruti cars during the month are the Alto and S-Presso in the mini-segment, while the Brezza, Ertgia, S-Cross and XL6 remained in demand.
Toyota records strongest month ever
Japanese auto giant Toyota had its strongest month on record, with sales up 50% from July 2021.
Innova Crysta, Fortuner and Glanza were the most popular cars of the month. The upcoming HyRyder could help the automaker publish even better numbers in the coming months.
Tata EV sales exceed 4,000
The launch of the long-range Nexon EV — dubbed Nexon EV Max — along with EVs gaining momentum, helped Tata Motors cross the 4,000 mark in the segment.
Overall, however, Tata’s sales fell slightly by 1% in July, mainly due to a decline in commercial vehicle sales.
Bajaj and TVS Report Modest Consecutive Gains
Two-wheeler manufacturers Bajaj and TVS reported modest sequential profits, but Bajaj suffered a year-on-year decline due to a decline in exports.
Pulsar remained the sales engine for Bajaj, followed by the affordable CT100, Platinum, among others.
Here’s how India’s top automakers fared in July 2022:
|Company||July sale||MoM change||YoY change|
|Mahindra & Mahindra||56,148||4%||31%|
Mahindra & Mahindra market cap exceeds ₹1.5 lakh crore after SUV sale and Scorpio-N bookings
Lockdown effect: People are ready to get dressed and go, says Gautam Singhania of Raymond
Mumbai’s real estate sector records its best July in a decade, even as housing loan interest rates rise