5 of India's Best-selling Car Brands In 2022

Best-selling Car Brands In 2022

India's passenger car sales hit a record high in 2022, with the total sales of 15 automakers reaching 3,768,412 vehicles, up 24% year-on-year. When added to the 35,000 units sold by luxury car makers, this totaled more than 3.8 million units. That's more than 10% higher than before the pandemic hit in 2018 (3.34 million cars were sold then). As a result, many automakers had their best year ever in 2022.

Last year, two automakers from Japan (Suzuki) and South Korea (Hyundai) still dominated the Indian automobile market, with local companies Tata and Mahindra taking up two of the top five slots. The top five brands had a combined market share of 86.11%. All five brands have seen good growth in sales, but the strong presence of local companies Tata and Mahindra has eroded the market share of champions and runners-up. As a result, Suzuki and Hyundai have seen their market share shrink.

Best-selling Car Brands In 2022

#1 Suzuki

Suzuki's market leader remained, selling 1,576,025 units in 2022, up 15.48% from the previous year's sales of 1,364,791 units. But overall market share has fallen from 44.97% in 2021 to 41.82% in 2022. So the heyday of more than half the market is no longer the case. Will it be fixed in the future?

#2 Hyundai

Hyundai remains in second place, selling its highest-ever number of units in India for the year. Compared with last year's 505,533 units sold, it grew by 9.29% to 552,511 units sold. However, its market share is also shrinking—from 16.65% to 14.66%.

#3 Tata Motors

Tata Motors came in third with 526,798 units. The company gained a staggering 59.07% of the market share compared to the 331,178 units sold in 2021. Hyundai Motor Company narrowed its distance from second place for another year, gaining 13.98% of the market share. That's an improvement from 10.91% in 2021.

#4 Mahindra

Best-selling Car Brands In 2022

Mahindra's sales figures have fallen short of those of Tata Motors, but its growth has been impressive. In 2022, the company sold 335,088 vehicles—an increase of 64.75% compared to 203,390 vehicles sold in 2021. That's an impressive jump compared to the overall market's growth rate of 11.89%. The company's market share also increased from 6.75% to 8.89%. Is a 10% market share far off?

#5 Kia

Kia continued its success in India in 2022. Sales reached 254,556 units, up 40.19% year-on-year, and its market share increased from 5.98% to 6.75%. This suggests that although the market is still concentrated on a few brands—namely Suzuki and Hyundai—Kia also is starting to take a share of that business away from them.

Other

China's MG cars sold 48,063 units in 2022, up 19.34% from the year before. The company's sales volume rose, but its market share fell to 1.28% from 1.33% in 2021. That may not seem like a huge decline, but MG's share of India itself is small. Will MG enter rapid growth in India in 2023?

Skoda, which is rumored to will leave the Chinese market due to sluggish sales, has seen a lot of success in India. In 2022, 53,721 units were sold there, a year-on-year growth of 125.17%. Sales have doubled. Skoda's India 2.0 initiative in India is already paying off. Volkswagen has also seen good growth thanks to its new India 2.0 strategy; Volkswagen sold 42,481 units in 2022, up 57.75 percent from the 26,930 it sold in 2021. As a result, its market share also increased from 0.89 percent to 1.13 percent, putting it into the 1 percent club.

Unfortunately, the two companies—Renault and Nissan—had a tough time in 2022: Renault's sales dropped 15.47%, and Nissan's dropped 12.76%; alliance brothers share the same misfortunes.