Auto sales data May 2022: Tata Motors, Mahindra continue their growth, Maruti Suzuki bounces back
- Auto makers across the board staged a recovery in May, barring a few exceptions.
- Maruti Suzuki bounced back after disappointing sales in April, while Mahindra & Mahindra reported double-digit growth.
- Tata Motors, too, continued to drive in fifth gear during the month.
AdvertisementAuto companies staged a recovery in May – even those which weren’t performing as well before, registering healthy growth in sales when compared to the previous month. From market leaders like Maruti Suzuki to sprinters like Tata Motors, most companies were in the green in May this year.
Almost all auto companies in the list registered three-digit growth in their sales when compared to a year ago, but that is because of the low-base effect as there was a lockdown across the country in May 2021.
|Company||May 2022||Change (month-on-month)||Change (year-on-year)|
|Mahindra & Mahindra||53,726||15.4%||208%|
Source: Company reports
Bajaj Auto is the only outlier in the list, with a growth of just 1% when compared to May 2021. Compared to a month ago, its sales declined, and it joins Toyota and Kia in this regard, who also witnessed a fall in sales. Overall, two-wheeler sales accounted for 40% of the company’s total sales, with the rest being three-wheelers.
Toyota’s massive growth year-on-year is due to the fact that it sold only 707 cars in May 2021.
Mahindra, on the other hand, is gung-ho about the newly announced Scorpio-N. “We are witnessing strong bookings and have a robust pipeline. We announced the launch of Scorpio-N, which is generating very high interest levels and promises to be yet another blockbuster from Mahindra,” said Veejay Nakra, president, automotive division, M&M.
Foreign investors are as spooked as they were in the first month of lockdown in India
Ola, Okinawa and Hero Electric sales crater in May after a spate of fire and other incidents
Simple One test drives to begin from July 20 – how to book, cities and everything you need to know
Popular on BI
- Noida-based LED IKIO Lighting files DRHP with SEBI to raise ₹350 crore
- Electronics Mart India IPO set to open on Oct 4; commands grey market premium of ₹30/share
- Twitter is going the TikTok way with a new full-screen video feature
- Sensex, Nifty fall over 1% on weak global trends
- Prosus terminates $4.7 bn deal to acquire BillDesk