New Delhi: The year 2023 proved to be a landmark for the Indian automotive sector, witnessing the introduction of numerous new models across various segments. Renowned brands such as Maruti Suzuki, Tata Motors, and Hyundai elevated the market with diverse options, including the budding electric vehicle category.41.08 lakh vehicles soldThe passenger vehicle segment experienced an impressive growth of 8.3 percent in 2023, with a total of 41.08 lakh vehicles sold, up from 37.92 lakh units the previous year. Notably, December 2023 set a new monthly sales record, with 287,904 units sold, surpassing the previous high of 276,000 units in December 2020.Rise in SUV salesA significant paradigm shift unfolded in consumer preferences, marking a departure from small and entry-level cars towards compact and feature-rich SUVs. This transformation dealt a substantial blow to entry-level cars, exemplified by Maruti Suzukis decline in sales for models like Alto and S-Presso. Here is a list of brand-wise performance of the automobile industry in 2023:Maruti SuzukiIn the entirety of 2023, Maruti Suzuki emerged as the passenger segment leader, surpassing the 20 lakh vehicle sales mark. The company reported a total of 20,66,219 units sold (domestic + export) between January and December. Despite a slight dip in December 2023 compared to the previous year, Maruti Suzuki remains a stalwart in the Indian automotive landscape.HyundaiHyundai India achieved its highest-ever domestic sales in a calendar year, crossing the 6 lakh sales mark. With 6,02,111 units sold in CY23, the company witnessed a 9% increase compared to the previous year. Hyundais robust performance extended to December 2023, with a total of 56,450 units sold, comprising 42,750 units in domestic sales and 13,700 units in exports.Tata MotorsTata Motors secured its position as the countrys third-largest car manufacturer, recording total sales of 550,838 units in 2023. In December, the company sold 43,675 units of passenger vehicles, showcasing an 8% growth compared to December 2022.Mahindra & Mahindra (M&M)Mahindra & Mahindra, a prominent SUV manufacturer, registered a 6% YoY growth in total auto sales in December, reaching 60,188 vehicles. In the passenger vehicle segment, the company experienced a 24% growth, with 35,174 units sold in December 2023.HondaHonda Cars India exhibited a notable growth of 12% YoY in domestic sales for December 2023, amounting to 7,902 units. Additionally, the brand recorded a remarkable 170% growth in exports, exporting 3,749 units of vehicles.ToyotaToyota Kirloskar Motor achieved a significant milestone, recording total sales of over 2.33 lakh units in 2023, marking the highest-ever annual sales for the brand. The year-on-year growth stood at an impressive 46%, with 21,372 units sold in December 2023.MG MotorMG Motor India reported a stellar performance in 2023, selling a total of 56,902 units of vehicles, signifying an 18% increase from the previous year. In December 2023 alone, the company sold 4,400 units, reflecting a 13% annual growth compared to December 2022.The dynamic shifts and noteworthy achievements of various automakers in 2023 underscore the resilience and adaptability of the Indian auto industry. As SUVs gain dominance and brands embrace innovation, the coming years hold promise for continued evolution and excellence in the Indian automotive landscape.
