Auto Sales in May 2022: Strong Yearly Growth On The Back Of Lower Base Last Year
Last year, the domestic auto industry was grappling with tough times due to the COVID-19 pandemic’s second wave in May. The economy is recovering now and with production seemingly back on track. Because of the low base effect due to COVID last year, all carmakers have reported stellar YoY sales growth. The automobile industry managed to make a recovery in May 2022 and has registered healthy growth.
Below are updates from all major car-makers in India:
Maruti Suzuki - India's largest carmaker, reported an increase in its domestic passenger vehicle (PV) by 278% to 1,24,474 units in May due to the low base effect. In May 2021, the company had sold 32,903 units. Sequentially, the sales increased from 1,21,995 units in April. The exports grew 141% to 27,191 units in May 2022 compared to April 2021.
Last month, sales of mini cars, including Alto and S-Presso, increased to 17,408 units against 4,760 in the same month last year. Similarly, sales in the compact segment, including models such as Swift, Celerio, Ignis, Baleno, and Dzire, increased to 67,947 units against 20,343 cars in May 2021. Sequentially, the numbers were down. Utility vehicle sales, including Vitara Brezza, S-Cross, and Ertiga, increased to 28,051 units from 6,355 vehicles in the year-ago month.
Hyundai - The company recorded a sales increase of 69% in the month of May 2022 compared to last year. Hyundai sold 51,263 cars in May 2022 as against 30,703 cars in the same month last year. While domestic sales increased, Hyundai improved its exports. Domestic sales stood at 42,293 units last month. It was at 25,001 units in May 2021. Exports stood at 8,970 units last month, while the same was at 5,702 units in the year-ago period.
Mahindra - The Passenger Vehicles segment (which includes UVs, Cars, and Vans) sold 26904 vehicles in May 2022. In May 2021, the total passenger vehicles sold were 8004, a jump of 236% due to the low base effect. Exports for the month were 2028 vehicles. Demand across products continues to be robust with strong booking numbers and pipelines. With sales of 26,632 SUVs in May, the company continued the growth momentum with all brands performing well including XUV700 and Thar. The company is witnessing strong bookings and has a robust pipeline.
Tata Motors - The third-largest car manufacturer has managed to sell 43,341 passenger vehicles in India in May 2022. With 39,887 units sold in May this year, the company’s ICE PV sales registered a YoY growth of 185% as in the same month last year, the company’s sales stood at 15,181 units. The company’s electric vehicle PV business shattered all previous records. Tata Motors sold 3,454 EVs in May 2022, registering a staggering 626% YoY growth as in the same period last year.
2 Wheeler Sales:
Bajaj Auto - In the two-wheeler space, Bajaj Auto's domestic sales stood at 96,102 units last month, a jump of 59% when compared to 60,342 units. During the same time, two-wheeler exports stood at 1,53,397 units, which is a drop in sales by 15% compared to May 2021 when Bajaj exported 1,80,212 units.
Hero Motocorp - The company reported an excellent growth of 192% over the corresponding month of the previous year (May 2021), when the company had sold only 1,59,561 units. In May 2022, the total unit sold was 4,86,704. Motorcycles commanded a 93% share in May 2022 up from 97% held in May 2021. Scooter sales increased YoY to 34,458 units in May 2022, up from 4,338 units sold in May 2021. The domestic sales increased while the exports declined by 13.8%.
TVS - For TVS, total two-wheelers sales grew from 154,416 units in May 2021 to 287,058 units in May 2022. Domestic two-wheeler sales grew from 52,084 units in May 2021 to 191,482 units in May 2022. Motorcycle sales grew from 125,188 units in May 2021 to 148,560 units in May 2022. Scooter sales of the company grew from 19,627 units in May 2021 to 100,665 units in May 2022. The shortage in the supply of semiconductors has impacted the production and sales of premium two-wheelers.
Mahindra - In the Commercial Vehicles segment, Mahindra sold 24,794 vehicles in May 2022 with a growth of 230%. All the Light Commercial Vehicle Segments of <2T, Pickups (2T to 3.5T), >3.5T, and the heavy commercial vehicles continued their growth trajectory in May 2022.
Tata Motors - Total domestic Commercial Vehicle sales for May 22 stood at 31,818 units compared to 11,401 units in May 2021, a growth of 188%. Domestic sales of MH&ICV in May 2022, including trucks and buses, stood at 12,056 units, compared to 3,241 units in May 2021. Total sales for MH&ICV Domestic & International Business in May 2022, including trucks and buses, stood at 12,810 units compared to 4,276 units in May 2021.
Bajaj - In the commercial vehicle segment, Bajaj sold 16,206 units in the domestic market compared to 488 units in May 2021, registering a strong growth of 3221%. Exports, however, have taken a hit, as Bajaj was able to export 10,163 units, registering a negative growth of 67% compared to the same time last year. Bajaj’s overall commercial vehicle sales in May 2022 saw a decline of 16% compared to the previous year.
Mahindra - Total tractor sales (Domestic + Exports) during May 2022 were at 35722 units, as against 24184 units for the same period last year. Exports for the month stood at 1569 units.
Escorts - The company reported a growth of 31.1% in total tractor sales to 8,421 units in May 2022. The company had sold 6,423 units in May 2021. It reported a 24.5% in domestic tractor sales to 7,667 units in May 2022. The company had sold 6,158 units in May 2021.