February 2023 Cars Sales Analysis - Full Analysis With YoY, MoM Change | V3Cars
In this February 2023 cars sales analysis article, we’ll look at the YoY and MoM change in sales figures for each carmaker, segment and body style in India. Where applicable, we’ll also include our observations based on the sales data and possible reasons behind a massive increase or drop in sales.
Brand-Wise February 2023 Car Sales - YoY Change
- In terms of percentage, Citroen posted the best YoY improvement of about 456% because of the low numbers in February 2022. It is worth noting that Citroen is not yet a high volume manufacturer in India.
- Among the high volume carmakers, Toyota posted the best growth in February YoY comparison, with a 74% rise in sales.
- Kia posted the second best YoY growth of around 36%.
- The biggest losers were Jeep and Skoda with 29.51% and 24% decline, respectively, in YoY dispatch numbers in February.
- Honda sales dropped by about 25% in January YoY comparison but reported a 6.62% growth trend in February YoY comparison.
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Brand-Wise February 2023 Car Sales - MoM Change
- Citroen was the top losing brand in MoM comparison for February with a 59% decline in numbers
- Citroen was Nissan and Honda with 22% decline in sales numbers in February
- Reanult was the top gaining brand with a 120% growth in MoM dispatches in February compared to January
- Reanult was followed by Toyota with a 20% growth in dispatches in February over January
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Segment-Wise February 2023 Car Sales - YoY Change
- In terms of YoY change, the D1-segment was the biggest gainer, posting a YoY growth of 16.33%
- The D1-segment was followed by the B2-segment, with a YoY growth of 16% in February 2023
- The B1-segment witnessed a YoY growth of 13% in our February 2023 comparison analysis
- In terms of YoY comparison, all segments witnessed growth except the A-segment, which witnessed a decline of 9% in the February YoY comparison analysis
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Segment-Wise February 2023 Car Sales - MoM Change
- In terms of MoM comparison for the month of February, all segments, except B2-segment, witnessed a decrease in their sales figures in comparison to sales in January
- The B2-segment reported a MoM growth of 6%
- The C-segment saw the highest MoM decline of all, of around 20%
- The D2-segment followed the C-segment with a 14% decrease
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Body-Wise February 2023 Car Sales - YoY Change
- SUVs witnessed the biggest YoY growth of 20.35% in February 2023 compared to February 2022
- The SUV was the best-selling bodystyle in India. It was closely followed by hatchbacks, which saw a 10% gain in sales in February 2023 compared to February 2022
- MPVs suffered a 6.28% decline in sales in February YoY comparison analysis
- Sedans also saw a 4.33% decline in sales in February
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Body-Wise February 2023 Car Sales - MoM Change
- SUVs were the top loser by reporting a 7.3% decline in MoM comparison to January sales figures
- SUVs were followed by MPVs with 6.1% drop in dispatches in February compared to January
- Pickups are not a popular body-style among Indian buyers and it is evident from the numbers
- Among the winners, sedans were the top gaining bodystyle with over 35,000 units sold in February, compared to almost 32,000 in January, witnessing a rise of over 11% in monthly sales
- Hatchbacks also reported a decline of 1.4% in MoM sales comparison
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