Car Sales October '22: Indian Automakers See Positive Growth, Maruti Still No. 1

• Maruti tops the list with a year-over-year (YoY) growth of 28.8 per cent in October.

• Mahindra increased its market share by 1.9 per cent between October 2021 and October 2022.

• Citroen recorded a growth of 1767.2 per cent in October when compared with the same period last year.

The Indian automobile industry is on a road to renaissance in the midst of a paradigm shift. Post pandemic recovery is in full swing as the industry grew by almost 30 per cent YoY in October 2022. The recovery has been aided by the ease of supply chain disruptions caused due to semiconductor shortage. Without further ado, let’s take a look at the top-performing brands as per their sales numbers in October 2022:

1. Maruti Suzuki

The unparalleled domination of Maruti Suzuki as India’s top-selling brand continues with over 1.4 lakh units sold in October, a growth of 28.8 per cent over the same period last year. It holds a giant 41.7 per cent stake in the market, down by 0.2 per cent over October 2021.

2. Hyundai

The Korean marque recorded sales of 48,001 units in October, accounting for a YoY increase of 29.7 per cent. Its market share remained stagnant with no change in its 14.3 per cent say in the pod.  

3. Tata

The indigenous carmaker reported a 33.3 per cent jump in sales this October, with over 11,000 more units sold than in October 2021. Over the same period, it gained a bit of market share with a 0.4 per cent increase taking its total share to 13.4 per cent.

4. Mahindra

Mahindra enjoyed successful growth in sales and market share in October 2022 over the year-ago period. The carmaker managed to garner an additional 1.9 per cent market share that now stands at 9.6 per cent, where its next top-performing peer only managed a 0.7 per cent growth in the same period. A 33.3 per cent YoY sales growth saw the manufacturer retail 32,226 units in October 2022.

5. Kia

Kia clinches the fifth spot in the list with reported sales of 23,323 units in October, a 42.8 per cent increase over the same period last year. It also gained 0.7 per cent of market share in the same period, taking its total share to 6.9 per cent.  

6. Toyota

Japanese carmaker, Toyota, sold a total of 13,143 units in October this year, compared with the 12,440 units it sold in October 2021. This translates to a 5.7 per cent YoY growth but the carmaker saw a 14.5 per cent month-on-month (MoM) decline in sales this October. With a current market share of 3.9 per cent, Toyota lost almost one per cent of its market share within a year.

7. Honda

Honda comes in at the seventh position in the list of best-selling carmakers in India with a 2.8 per cent market share in October 2022. Even though its market share decreased by 0.3 per cent, Honda recorded a sales growth of 17.7 per cent between October 2022 and October 2021.

Remaining brands 

• Renault takes the eight place with a market share of 2.3 per cent. It recorded a negative growth of 12.7 per cent in October with 7,778 units sold in comparison to the 8,910 units it retailed in the same month last year.

• MG recorded a 50 per cent YoY growth in October with 4,367 units retailed. The Chinese-owned British marque has a market share of just over one per cent.

• VW just managed to outdo Skoda, with 3,510 units sold in October, which is a 14.1 per cent growth over the same period last year.

• Skoda managed to sell 10.6 per cent more units YoY in October  by recording sales of 3,389 units. It shares the same amount of market share as its German cousin.

• Nissan recorded a 21.8 per cent YoY decrease in sales with 3,061 units sold in October.

• Citroen is the only marque with a four figure growth percentage but that is due to its mass market C3 hatchback which was launched this year. Citroen comes thirteenth with 1,195 units sold in October.

• Jeep reported sales of 1,136 units in October, occupying the fourteenth position in the list.

While market share of brands is something that doesn’t oscillate a lot, the fight for the ninth spot in the list of best-selling carmakers in India is a hot one between four contenders which are very close to each other.