India’s passenger vehicle market leader has announced wholesales of 143,708 units in May 2023, which marks a 15% year-on-year increase (May 2022: 124,474 units) and a 4.65% month-on-month increase (April 2023: 137,320 units). The first takeaway is that strong sales of its six-pack of SUVs have helped buffer the 30% YoY decline in sales of its two budget hatchbacks.
Combined sales of the Alto and S-Presso at 12,236 units are down a substantial 30% on year-ago sales (May 2022: 17,408 units) and also 13% down on April 2023’s 14,110 units. This is the sole sub-segment amongst the company’s 16 models to see a sales decline. Clearly, demand from rural India continues to be tepid, which is somewhat worrying for both Maruti Suzuki as well as India Auto Inc.
The seven-model pack of the Baleno, Celerio, Dzire, Ignis, Swift, Tour S, Wagon R together account for 71,419 units, up 5% (May 2022: 67,947 units) but down 4.69% on April 2023’s 74,935 units. While the model-wise sales splits are not available, expect the Baleno, India’s best-selling premium hatchback in FY2023 and the utilitarian Wagon R, the best-selling passenger vehicle last fiscal, to have sizeable contributions in this category. The practical and easy-to-live-with Wagon R, first launched 24 years ago, recently drove past 3 million sales. The third-gen avatar and the CNG variant are helping maintain sales momentum.
The premium Ciaz sedan clocked wholesales of 992 units, up 69% on a low year-ago base of 586 units. The Ciaz had sold 1,017 units in April 2023.
The Eeco van did well to sell 12,818 units, 22% better than the 10,482 units it had clocked in May 2022.
New Fronx gives a new charge, SUV-MPV share of PV sales rises to 32%
Maruti Suzuki India’s SUVs – the Brezza, Ertiga, Fronx, Grand Vitara, S-Cross and the XL6 – clocked 46,243 units, which constitutes strong 65% YoY growth. What’s more, the 26% month-on-month increase (April 2023: 36,754 units) of this six-pack reflects the growing demand for Maruti’s SUVs and the popular Ertiga MPV.
Of these six models, four – the new Fronx, Grand Vitara, S-Cross and the XL6 – belong to the premium Nexa brand and indicate the market shift to premium products in this vehicle category. With the carmaker set to launch the Jimny five-door SUV on June 7, demand for this sub-segment can only accelerate.
Maruti Suzuki remains the unrivalled market leader but with an estimated order backlog of around 375,000 passenger vehicles amid a hugely competitive marketplace, the company will have to put its shoulder to the production wheel.
Meanwhile, the company, which lost a fair share of production in FY2023, continues to be impacted by a shortage of semiconductors. In its statement today, the company said: “The shortage of electronic components had a minor impact on the production of vehicles.”