Tata Motors Beat Maruti, Hyundai In Growth Rate With 74% Jump In 12 Months; Maruti, Hyundai Witness Decrease In Sales
Tata Motors’ sales in April increased by over a two-third as compared to the corresponding period last year.
Rivals Hyundai India and Maruti Suzuki fared worse.
As of May 1, Tata Motors recorded a 74 percent year-on-year surge, having sold 72,468 units as compared to 41,729 units in April 2021.
Its total domestic sales came in at 71,467 units in April 2022 including 30,838 commercial vehicles and 41,587 passenger vehicles.
In the year-ago period, 16,515 commercial and 25,095 passenger vehicles were sold.
Hyundai India sold 44,001 units domestically and 12,200 units in exports, taking the cumulative sales to 56,201 units for April 2022.
This is a decline of 5 percent and domestic sales declined 10 percent on a YoY basis.
Maruti Suzuki’s April sales also declined, by 5.7 percent.
Setback For Maruti
It sold a total of 1.50 lakh units during the month as compared to 1.59 lakh units in the year-ago period.
Total domestic sales was recorded as 1.26 lakh units which is lower as compared to 1.37 lakh units sold in April 2021.
Domestic passenger vehicle sales came in at 1.21 lakh units last month, as compared to 1.35 lakh in the corresponding period last year.
Bread Without Butter
The numbers were reported a day after Maruti Suzuki Chairman RC Bhargava commented that the “butter” from the company’s “bread and butter” segment has gone away- a reference to the shrinking small car market.
He added that due to regulatory changes, taxes by state governments, increase in prices of commodities, the prices on the lower end of the market have increased.