Post-Covid Rebound: Tata, Mahindra, Maruti And Others Record Annual Growth Through FY2022

The growth of some carmakers has been affected more than others by the ongoing supply chain disruptions

The automotive industry was among many that was heavily impacted by the global pandemic. After the initial phase of stringent lockdowns in 2020 that interrupted both production and sales, the industry is still suffering from supply chain issues and related increases in input costs. However, it seems like most brands are on the path to recovery with strong sales results in the financial year 2021-22 and many had their best quarterly result towards the end of FY2022. Let’s see how some of the leading brands in India performed in a year-on-year (YoY) comparison of sales figures:

Tata and its EVs

The Indian carmaker has been on a steady rise for the last couple of years and has ended the 2021-22 financial year with new company bests. It recorded its highest ever annual sales of just over 3.7 lakh units, a YoY increase of 67 percent. Tata also enjoyed its best ever quarter and monthly sales which have gone up by 47 percent and 43 percent respectively. 

Perhaps most impressive has been Tata’s record sales figures in the EV space. Its annual EV sales increased by 353 percent YoY and the YoY final quarter sales jumped up by 432 percent. 

Maruti Suzuki

India’s largest carmaker is still far ahead of any rival when it comes to sheer volumes, registering sales of more than 13 lakh cars from April 2021 to March 2022. While its YoY sales increase of 13.4 percent may seem small in comparison to the growth of Tata and Mahindra, remember that figure represents an extra 37,718 units sold. Most of that growth comes from the SUV and MPV segments as Maruti’s hatchbacks witnessed a drop in YoY sales for FY2022. Even the overall sales for March 2022 were down by 9.2 percent compared to March 2021.

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Mahindra

Another carmaker that has enjoyed particularly strong growth in 2021-22 would be Mahindra. During this period, the brand launched the highly anticipated XUV700 while also enjoying sustained demand for the Thar. Meanwhile, the Bolero remains one of its best-sellers, and the XUV300 and Scorpio continue to pull in respectable sales as well. Mahindra enjoyed a YoY growth of 44 percent with nearly 2.26 lakh units sold.

Hyundai

The next biggest carmaker in India had a relatively unexciting FY2022 in terms of sales figures. Its overall tally recorded a YoY growth of just 2.1 percent with 4.81 lakh units sold. However, Hyundai did improve on its export performance YoY by 24 percent to remain the biggest car exporter in the country. The only significant new car launches from the brand during this period were the Alcazar and i20 N Line. 

Kia

The 2021-22 financial year was Kia’s best annual sales performance in India so far. With 1.87 lakh units sold, it enjoyed a YoY growth of 20 percent. The Seltos accounted for 51 percent of its sales, the Sonet for 40 percent, and the remainder by Carens and Carnival. It was also Kia’s best quarterly sales result clocking 60,062 units. The Carens MPV is Kia’s fourth and newest offering in India which has already recorded over 50,000 bookings and 12,117 units retailed within two months of launch.

Honda

The Japanese carmaker recorded sales of just over 85,600 units during FY2022 with YoY growth of 4.3 percent. Its only new offering during this period was the facelifted Amaze sub-compact sedan. However, it was a much better year for Honda as an exporter with a YoY increase of 278 percent. Honda is one of the only brands in India that does not offer any compact SUV model. It will soon become the first to offer a mass-market hybrid with the launch of the City e:HEV.

Toyota

Toyota enjoyed a strong resurgence in India during FY2022. It recorded a total of 1,23,770 units which is a YoY growth of 58 percent. While its most affordable offerings are the cross-badged models from Maruti, Glanza and Urban Cruiser, the Innova Crysta is Toyota’s most popular offering. 

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Nissan

It has been a rough period for Nissan in India these past few years but the carmaker seems to be recovering well. During the financial year of 2021-22, it doubled its annual sales to a tally of 37,678 units which is a YoY growth of 100 percent. The key to Nissan’s change of fortuners has been the Magnite sub-4m SUV, which has already crossed the 1 lakh bookings milestone. The only other model in the brand’s lineup is the Kicks.

These are not the only carmakers who achieved remarkable recoveries in the first post-pandemic financial year. In terms of the year ahead, the rise in demand is expected to slow down for the overall industry due to rising prices of cars and fuels. At the same time, the EV segment is likely to see its numbers to continue to grow at a rapid pace.