The Resilience of PVs and Two-Wheelers
PVs' Unprecedented Growth
The year 2023 unfolded as a unique period for passenger vehicles, with sales consistently on the rise each month. This trend reflects the resilience and adaptability of the PV market, overcoming various challenges. However, amidst the overall positive atmosphere, a notable exception emerged.
Maruti Suzuki's Dip in December 2023
In contrast to the general upswing, India's automotive giant, Maruti Suzuki India Ltd (MSIL), faced a dip in sales during December 2023. The data reveals a drop from 1,12,010 units in December 2022 to 1,04,778 units in the same month of 2023. This downturn was observed across all PV segments, except for utility vehicles.
Navigating the Numbers
December 2023 PV Sales Overview
Zooming into the specifics, around 2.87 lakh passenger cars found new owners in the Indian market in December 2023. While this reflected a 4% increase compared to December of the previous year, there was a 14.2% decline from November 2023. Remarkably, this was the first time in the entire year that the industry fell below the 3 lakh mark.
December Dispatch Dynamics
The low vehicle dispatches in December are a familiar occurrence, attributed to Original Equipment Manufacturers (OEMs) aiming to trim stock levels at dealerships. This strategic move is reinforced by the dual strategy of offering enticing discounts while announcing price hikes effective from January. Despite the dip in dispatches, December 2023 etched its name as the highest-ever December for the Indian PV industry.
Two-Wheeler Stagnation and Hero MotoCorp's Narrative
Hero MotoCorp's December Saga
While the PVs navigated the turbulent currents of December, the two-wheeler landscape, specifically Hero MotoCorp, presented a mixed narrative. The month concluded with a Year-on-Year (YoY) and Month-on-Month (MoM) degrowth for Hero MotoCorp. However, the silver lining emerged in the form of increased Year-to-Date (YTD) sales and a commendable 5% growth in the calendar year 2023.
Crossing 55 Lakh Sales Milestone
Despite the challenges faced in December, Hero MotoCorp achieved a significant milestone by crossing the 55 lakh sales mark for the calendar year. This accomplishment highlights the brand's resilience and ability to weather short-term setbacks.
| Vehicle Sales | Auto Sales | Car | Two-Wheeler | Three-Wheeler | Commercial Vehicle | Electric Vehicle | RTO Registration |
Performance summary in different ways
Vehicle Class wise
Transport
Non-Transport
Vehicle Category wise
Vehicle Fuel wise
Maker wise in different categories (Detailed)
Conclusion: Navigating Peaks and Valleys
In conclusion, December 2023 served as a microcosm of the automotive industry's ability to navigate through peaks and valleys. While PVs celebrated a year of growth, Hero MotoCorp faced challenges but emerged triumphant in the broader context. As we bid adieu to 2023, the automotive landscape stands as a testament to adaptability and resilience, setting the stage for an intriguing journey into the new year.
