India 2017. New Auto market at third All-Time Record in a row

16
Indian auto market
Hyundai-Elantra-2017

Indian Vehicles Market hit in 2017 the third all time record in a row, with over 3.3 million cars sold. Favorite by the new automotive policy, Maruti ended near 50% of market share while all Premium brands are gaining terrain, albeit new luxury tax effect.

Indian economic recovery is gradually taking hold following a lackluster performance in Q1 FY 2017. The economy grew at a faster 6.3% in year-on-year terms in Q2 FY 2017—which runs from July to September—with the effects of demonetization and the implementation of the Goods and Services Tax (GST) gradually dissipating.

Although the fourth quarter got off to a weaker start, with seasonal effects dragging on economic activity in October, stronger data for November, including auto sales and the manufacturing PMI, suggests that the economy remains on a recovery path.

Indian vehicles market is the 5th largest in the World and is very close to outpace Germany for the 4th. In the last fourth years the market has taken a stable growing pathway hitting the all time record any year, with 2016 at 2.9 million car passengers sold.

In the 2017,  on top of new GST effective for all sectors, the automotive industry was effected by the new Automotive policy, effective from July 1st, having the Government changed vehicles duties aiming to sustain vehicles of reduced dimensions (below the 4 meters) and reduce the emission level.

The new law is basically similar to the previous one and should not change the industry basic with the dominion of local made small vehicles and the growth of SUV segment just in the compact derivatives. However, the law includes a sort of luxury tax for high cylinder engines, penalizing the sales for Premium brands.

According to data released by the SIAM, the local association of manufacturers, the year ended with the new record level, at 3.223.429 sales, first time above the 3 million, up 8.7%

2018 outlook is still favorable and the limit of the growth is represented by the inadequate infrastructures of the country and by the huge pollution, in absence of any real strategy to limit it.

At brand-wise, Maruti was clearly favorite by new rules and ended the year with a record of 1.6 million sales (+14.9%) and 49.7% of market share.

Hyundai was second with 527.000 sales (+5.4%) ahead of Mahindra & Mahindra with 222.000 units (-1.2%), Honda with 179.000 units (+14.7%), Tata with 169.000 (+18.8%), Toyota with 139.000 (+4.0%), Renault with 112.000 (-14.9%), Ford with 87.588 (+1.2%), Volkswagen with 48.086 (+1.6%) and in 10th place Datsun with 40.445 (+6.4%).

At model wise, the leader was Maruti Alto with 257.000 sales year to date (+5.2%) followed by the Maruti Swift Dzire with 225.000 (+11.4%) and the Maruti Baleno with 175.000 (+63.6%).

As Annual Member, you are entitled to see the Top 100 selling models list for current and previous years.

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models

This content is for members only.
Login Join Now