Passenger vehicles, two-wheelers rev ahead in May, CVs on slow lane still

2023-06-01 15:46:02

The domestic wholesale (dispatches to dealers) of passenger vehicles (PVs) in May showed a mixed trend with some manufacturers, such as Maruti Suzuki, Hyundai Motor, Toyota, Mahindra & Mahindra reporting double-digit growth on a year-on-year (YoY) basis, while some others such as Honda Cars India and Kia India reporting declining sales.

In the two-wheeler segment, while market leader Hero MotoCorp reported strong growth, scooter market leader Honda Motorcycle and Scooter India (HMSI) posted a decline in sales.

In the commercial vehicle segment, the scene was bleaker. With the exception of Volvo Eicher and M&M, most others including Ashok Leyland, Tata Motors, and Marut Suzuki reported a decline in sales. In the tractor/farm equipment segment also, while Escorts Kubota reported a growth of 13.5 per cent YoY, the domestic sales of M&M declined by three per cent YoY.

Market leader in the PV segment, Maruti Suzuki India Ltd (MSIL) reported a growth of 15.45 per cent YoY to 1,43,708 units during the month as compared with 1,24,474 units in May last year.

“MSIL grew faster than the industry in May and our market share also increased by one per cent to 43 per cent during the month. Rural market growth was higher than growth in the urban market,” Shashank Srivastava, Senior Executive Officer – Marketing and Sales, MSIL, said.

The shortage of electronic components had a minor impact on the production of vehicles. The company took all possible measures to minimise the impact, per a company statement.

Second largest PV maker Hyudai Motor India Limited (HMIL) also reported a growth of 15 per cent YoY in its May sales to 48,601 units in the domestic market as compared with 42,293 units in corresponding month last year.

Similarly, Mahindra & Mahindra (M&M) reported wholesale of 32,886 units during the month, a growth of 22 per cent YoY compared with 26,904 units in May 2022.

‘Punch’ maker Tata Motors reported a growth of single digit (6 per cent) to 45,878 units during last month compared with 43,341 units in May 2022.

TKM reported highest-ever monthly sales at 25 per cent YoY growth in its domestic wholesales to 19,379 units in May against 15,510 units in the same month last year.

However, ‘Seltos’ maker Kia India reported a marginal decline in its sales to 18,766 units during the month compared with 18,718 units in May 2022.

In May, Honda Cars India also reported a decline of 43 per cent YoY to 4,660 units ( 8,188 units). Skoda Auto and Volkswagen India also reported decline in their sales on a yearly basis.

Two-wheelers segment

In the two-wheeler segment, Hero MotoCorp reported a growth of nine per cent YoY to 5,08,309  units (4,66,466 units). “The momentum is expected to continue in the coming months, driven by an uptick in customer sentiments, forecast of normal monsoon and a host of new launches in the premium segment,” the company said in a statement.

However, HMSI’s domestic sales declined by three per cent YoY to 3,11,144 units in May compared with 3,20,857 units in May 2022. Bajaj Auto reported a growth of more than double (103 per cent) at 1,94,811 units in May. TVS Motor Company and Royal Enfield both reported a growth of 32 per cent YoY during the month, respectively.

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