New Delhi: Maruti Suzuki, Hyundai and Tata Motors reported their highest-ever dispatches to dealers last fiscal, enabling the domestic passenger vehicle industry to log in best-ever performance to date.
The country’s largest carmaker Maruti Suzuki India reported its highest wholesales to date at 19,66,164 units, up 19 per cent from 16,52,653 units in 2021-22.
Its domestic dispatches rose to 17,06,831 units in 2022-23, up 21 per cent from 14,14,277 units in 2021-22 fiscal.
Hyundai Motor India said its overall wholesales last fiscal were the highest ever since commencing operations in the country.
The automaker dispatched 7,20,565 units to dealers last fiscal, up 18 per cent from 6,10,760 units in 2021-22. Its domestic dispatches rose to 5,67,546 units last fiscal, up 18 per cent from 4,81,500 units in the 2021-22 financial year.
The country’s second-largest carmaker said it was its best performance to date in terms of sales volume in the domestic market in a financial year.
Tata Motors also reported the best-ever passenger vehicle dispatches in the domestic market last fiscal at 5,38,640 units, up 45 per cent from 3,70,372 units FY22.
Maruti Suzuki India Senior Executive Officer, Marketing and Sales, Shashank Srivastava said the company reported its highest-ever sales in a financial year despite chip shortage continuing to impact the production activity.
He noted that the overall industry sales last fiscal rose to 38.89 lakh units, an increase of 27 per cent from 30.69 lakh units in 2021-22. “Both wholesales and retails were the highest for the industry last fiscal,” Srivastava said.
The industry sales were expected to rise to 4.05-4.10 million in the current fiscal, he added.
“We expect the industry growth to be in the range of 5-7 per cent this fiscal and the company would like to perform better than the industry,” Srivastava said.
He noted that with models like Jimny and Fronx in its kitty, the company expects to corner 25 per cent of the SUV market in the current fiscal. MSI ended the last fiscal with a market share of 12.6 per cent in the SUV segment with sales of 2,02,800 units. The company, which has discontinued its entry-level model Alto 800 citing affordability factor, said the SUV segment continues to outpace others with a contribution of 43 per cent in overall domestic passenger vehicle industry.