The Best Selling Car up to October 2023 is the Maruti Swift, rises into 1st position with 176,315 sales (+18.2%), followed by the Maruti WagonR with 176,156 new registrations (-8.5%) and the Maruti Baleno at 170,359 sales (+15.3%) .

The Maruti Vitara rises 4 spots into 4th securing 153,534 sales (+42.1%), in front of the Tata Nexon with 140,112 (-0.2%) and the Hyundai Creta with 136,254 registrations (+16.1%).

The Maruti Dzire ranks in 7th with 127,545 sales (-4.4%) in front of the Tata Punch with 12,012 sales (+13.8%).

In ninth place  ranks the Maruti Alto with 116,596 sales (-15.7%), followed by the Maruti Eeco, closing the top 10 with 115,750 units sold (+7.9%).

Tables with sales figures

In the tables below we report sales for Top 50 models.

Market Trend and Outlook

After rapid economic growth of 7.2% in the 2022-23 fiscal year, economic momentum has remained strong in the first half of 2023. The S&P Global India Services PMI Business Activity Index for July signalled continued rapid expansion in output and new orders, while July’s Manufacturing PMI survey also showed strong expansionary conditions.

India has also become an increasingly attractive location for multinationals across a wide range of industries, with foreign direct investment inflows (FDI) having reached a new record high of USD 85 billion in the 2021-22 fiscal year. FDI investment inflows into the manufacturing sector rose by 76% year-on-year (y/y) in 2021-22, reaching a level of over USD 21 billion.

In such positive economic environment, no surprise if the Indian auto market in October 2023 posted the 20th growth in a row, reporting 390,672 new sales (+13.1%). YTD figures at 3.56 million are up 8.9% from the previous year.

Looking at cumulative data up to October 2023, brand-wise Maruti leads the rankings with 1.50 million sales (+9.6%), Hyundai with 504,540 (+8.3%), Tata with 461,330 (+4.7%), Mahindra with 357,219 (+30.2%) and Kia with 219,702 (+2.0%).

Toyota with 181,083 sales (+31.5%) ranks in 6th place, followed by Honda at 67,556 sales (-16.5%), MG -up 2 spots- with 48,348 sales (+20.6%), followed by Renault with 43,881 new registrations (-41.2%) and Skoda in 10th with 40,302 units sold (-9.5%).

Looking at specific models the Maruti Swift becomes the new best seller growing 18.2% in sales, followed by the Maruti Wagon R down 8.5%.

Medium-Term Market Trend

The Indian autos market alternated positive years with negative ones, from 2010 to 2013, reaching a minimum in 2011 at 2.5 million and a peak in 2012 at 2.8 million sales. 5 years of consecutive growth followed, with a maximum reached in 2018 at 3.4 million registrations.

In 2019 started a negative trend that would continue through the covid pandemic moving sales from nearly 3 million to 2.5 million at the end of 2020.

The fall in sales in the Indian market was not due to a structural problem in the economy, in fact sales started to recover extremely quickly after the pandemic. In 2021 they rose above the 3 million mark (+26.6%) and in 2022 they grew another 23.1% to 3.82 million, setting a new all-time high.

This confirms a common trend in asian countries that, unlike European ones, are recovering well from the pandemic and are responding outstandingly to the change in market sentiment cause by a shift to Evs and a disruption in the supply chains caused by lack of raw materials for microchip production.

Tables with sales figures

In the tables below we report sales for top 10 Brands, top 10 Manufacturer Groups and top 10 Models.

Market Trend and Outlook

The Indian auto market totals 3.81 million new car registrations, a 23.1% increase from the prior year and a new all-time high. December hits the 10th consecutive growth of the year, with 280,630 sales (+9.0%)

Looking at cumulative data from 2022, brand-wise the top 6 remain unchanged compared to 2021: in order we have Maruti with 1.58 million sales (+15.5%), Hyundai with 552,511 (+9.4%), Tata with 526,821 (+59.1%), Mahindra with 332,949 (+65.3%), Kia with 254,556 (+40.2%) and Toyota with 159,801 sales (+22.2%).

Honda with 95,022 sales (+6.6%) rises into 7th place overtaking Renault at 87,118 sales (-9.1%). In 9th place ranks Skoda with 53,763 sales (+125.4%) registering the best performance in the Top 10, followed by MG at 48,063 sales (+19.2%) in 10th position.

Tables with sales figures

In the tables below we report sales for top 10 Brands, top 10 Manufacturer Groups and top 10 Models.

The Indian Market in 2022 has performed exceptionally, scoring a new all-time high.

The main protagonists of this escalade are within a group of vehicles reported in the present post, representing the top 50 models sold in the country.

Maruti Wagon R maintains 1st position with 217,317 sales in the year (+18.2%), followed by the Maruti Baleno with 185,665 sales (+7.8%) overtaking the Maruti Swift at 176,424 sales (+0.8%) .

The Tata Nexon Jumps 6 spots into 4th securing 168,278 sales (+55.0%), in front of the Maruti Alto with 162,548 (-2.2%) and the Maruti Dzire with 159,919 registrations (+37.6%).

The Hyundai Creta -down 2 spots- ranks in 7th with 140,895 sales (+12.3%) in front of the Maruti Ertiga with 133,814 sales (+17.0%).

In ninth place  the Maruti Vitara with 130,814 (+12.2%) followed by the Tata Punch entering the Top 10 for the first time with 119,309 sales (+475.5%).

Other remarkable performance within the Top 50 are those of Mahindra Bolero (+44.1%), Maruti Celerio (+121.4%) and that of the new Mahindra XUV 700.

Tables with sales figures

In the tables below we report sales for Top 50 models.

In 2021, the Maruti Wagon R becomes the new leader after overtaking the Maruti Swift, which fell in 2nd position. Indeed, the Wagon R is first this year with 183,851  sales and holds 6% market share, ahead of the Maruti Swift with 175,052 sales and 5.7% share.

The third position is taken by the Maruti Baleno with 172,237 sales (5.6% share), followed by the Maruti Alto -dropping 2 spots-, which sold 166,233 units (5.4% share), and by the Hyundai Creta -up 2 spots- with 125,437 sales (4.1% share).

The Maruti Dzire ended up in 6th place with 116,222 units sold (3.8% share). The Maruti Vitara reached 7th place with sales at 115,962 (3.8% share), followed by the Hyundai EECO -down 2 spots- with 114,524 sales (3.7% share). 

In ninth place, we find the Maruti Ertiga -up 3 spots- with 114,408 sales (3.7% share), ahead of the Tata Nexon –up 8 spots- selling 108,577 units YTD (3.5% share).

Tables with sales figures

In the tables below we report sales for Top 50 models.

Market Trend

The Indian car market this year recovers effectively from the pandemic crash of 2020 and reported a very promising performance in the first half, falling in double-digits only in Q4.

It is currently the 5th largest in the World but it is very close to outpacing Japan to gain the fourth position.

Following five years of continuous vigorous growth, in 2018 the Indian car passenger market hit the last all-time record with 3.38 million sales, despite the introduction of the new National Automotive Plan, in mid-year, blocked the growth. In 2019 the market pushed the brakes, falling down 7.4% and registering 3.11 million units.

Due to the COVID-19 pandemic sales have fallen in  2020. In fact, sales have been 2.47 million, reporting a decline of 16.5% compared to 2019.

In 2021 the year started positively for the Indian market, in fact, in Q1 932,479 units have been sold, reporting a 44.5% increase in sales compared to Q1 2020, and in Q2 sales started growing quickly, reporting a 320.3% increase in sales with 645,132 units due to the incredibly low volumes in Q2 2020.

In Q3 sales slowed down significantly, gaining 2.1% sales with 739,521 units, while in Q4 sales dropped 14.8% with 759,599 units.

Indeed, Full-Year sales for 2021 have been 3.08 million, reporting a 26.7% increase compared to 2020. 

Brand-wise, the leader Maruti (+12.6%) lost 5% market share, followed by Hyundai (+17.9%), which lost 1% share this year. Tata on the other hand gained 3.9% share, rising 98.9%.  Mahindra jumped 1 position and gained 43.9%, overtaking Kia which gained 29.2%.

Toyota gained 58.6%, followed by Renault (+18.3%) and Honda which gained 26.3% sales. Closing the leaderboard we have MG -up 1 spot- gaining 45.6% this year and Nissan entering the leaderboard by jumping 9 spots, gaining 1553.4%.

The most sold vehicle this year has been the Maruti Wagon R (+24%) with 183,851 units sold and jumped 3 spots, overtaking the Maruti Swift, which gained 8.9% registering 175,052 new sales this year. The Maruti Baleno (+11.9%) closes the podium and reports 172,237 new units sold.

Tables with sales figures

In the tables below we report sales for top 10 Brands, top 10 Manufacturer Groups and top 10 Models.

In 2020, the Maruti Swift becomes the new leader after overtaking the Maruti Alto, which slipped into 2nd position. Indeed, the Swift is first this year with 160.765 (-16.2%) sales and holds 6.3% market share, ahead of the Maruti Alto with 154.076 (-26%) and 6% share.

The third position is taken by the Maruti Baleno with 153.986 sales (-16.2%), followed by the Maruti Wagon R, which sold 148.298 units (-4.9%) so far, and by the Maruti Dzire -down three spots- with 124.969 sales (-37.2%).

The Maruti EECO ended up in 6th place -up 2 spots- with 99.480 units sold (-12.8%). The Hyundai Creta ended up in seventh place -up 3 spots- with sales at 96.989 (-2.8%), followed closely by the Kia Seltos  -up 14 spots this year- with 96.932 (+112.6%). 

In ninth place, we find the Hyundai Grand i10 with 91.930 (-10.5%), ahead of the Maruti Vitara selling 83.666 (-34.2%).

Tables with sales figures

In the tables below we report sales for Top 50 models.

Market Trend

The Indian car market was hit extremely harshly in the first half of 2020 as the global pandemic has impacted sales tremendously, volume even went to 0 in April as strict lockdowns closed businesses, but most impressively the market recovered in the second half. Despite the recovery, this has been the lowest volume since 2011.

It is currently the 5th largest in the World but it is very close to outpacing Japan to gain the fourth position.

Following five years of continuous vigorous growth, in 2018 the Indian car passenger market hit the last all-time record with 3.38 million sales, despite the introduction of the new National Automotive Plan, in mid-year, blocked the growth. In 2019 the market pushed the brakes, falling down 7.4% and registering 3.11 million units.

After starting the year with a slight negative trend (-3.6%), the market quickly collapsed in March as the virus struck. The sharpest drop in sales this year was in April when sales were 0 as the entire country was put in a complete strict lockdown starting from the 23rd of March so all factories suspended production and dealerships closed.

After the country started to reopen slowly in May, the market began to recover very impressively, in fact, in June the market reported only 1.4% loss. This was the last negative month of the year, almost maintaining double-digit growth throughout the entire second half of the year.

Indeed, Full-Year sales for 2020 for the car market have been 2.47 million, reporting a decline of 16.5% compared to 2019.

Brand-wise, the leader Maruti (-18.4%) gained 1.4% market share, followed by Hyundai (-16%), which gained 1% share this year. Tata on the other hand lost 0.2% share, falling 23.4%.  Kia jumped 5 positions and reported the best performance in the leaderboard (+208.3%), followed by Mahindra which on the other hand reported the worst performance, losing 50.7% and falling 2 spots.

Toyota lost 31.8%, followed by Renault (-8.3%) and Honda which fell 3 spots and lost 47.6% sales. Closing the leaderboard we have Ford -down 1 spot- losing 37.8% this year and MG entering the leaderboard by jumping 3 spots, gaining 73.9%.

The most sold vehicle this year has been the Maruti Swift (-16.2%) with 160.765 units sold and jumped 2 spots, overtaking the Maruti Alto, which lost 26% registering 154.076 new sales this year. The Maruti Baleno (-16.2%) closes the podium by jumping 1 spot and reports 153.986 new units sold.

Tables with sales figures

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

India best selling cars ranking in 2019 was led by the Maruti Alto, back on top after having lost the leadership in the previous year. In second place the 2018 leader, the Dzire, which fell sharply down losing 1 point of market share. Behind other three Maruti models, while the Hyundai i20 was the first non-Maruti in the ranking.

Following the lost of the leadership, first time in this decade, happened in the 2018, The Maruti Alto in 2019 was back on top of the list, despite performing the second lowest share of market in this decade with 6.9%, from a record of 9.9% hit both in 2013 and 2014. The model is losing terrain, year after year, due to the several new models launched in the market.

The last year leader was back in second. It was the Maruti Dzire performing with 6.6% of share, down 1.0 points from the previous year. It was followed by other three Maruti models: the Swift with 6.4%, the Baleno with 6.1% and the Wagon R with 5.2%.

The best model which is not owned by the Indian manufacturer was the Hyundai i20, which gained one position, holding 4.1% of share.

Tables with sales figures

In the tables below we report sales for Top 50 models.

Economic Environment

Indian economic growth slowed to a six-and-a-half-year low in Q2 FY 2019, which ran from July to September, as fixed investment grew at the weakest pace in nearly five years.

Despite recent interest rate cuts by the Reserve Bank of India (RBI), a sharp moderation in bank lending growth weighed on fixed investment. On the other hand, private consumption and government consumption both grew at a faster pace in Q2.

However, consumer confidence and business confidence in the manufacturing sector both decreased in the quarter, pointing to modest private consumption and fixed investment readings.

Market Trend

Indian vehicles market is the 5th largest in the World and is very close to outpace Germany to gain the fourth.

Following five years of continuous vigorous growth, in the 2018 the Indian car passenger market hit the last all time record with 3.38 million sales, despite the introduction of the new National Automotive Plan, in mid year, had blocked the growth.

The industry was also impacted by the fall Rupee value in the international market, by the interest rates increase in interest and by fuel price increase. Consequently, since the last months of the 2018 a new trend – negative this time – is in place and the market is declining month after month.

In 2019 the market pushed the brakes, falling down 7.4% and registering 3.11 million units.

The local manufacturer Maruti, holds nea 50% of market just having progressively increased the quota during the last decade with a record of 51% hit in the 2018. In the 2019 the year to date share is just below 50% well ahead of the followers, three manufacturers producing locally, the Korean Hyundai, second, and the Indian Mahindra and Tata.

However, the key fact of 2019 is the immediate success of the last brand arrived in the market, Kia, already ranking within the Top 10.

Tables with sales figures

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