FY18 Sales Analysis

4/10/2019 Auto Punditz – Not just another automotive website!
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March 2019 Two Wheeler Sales – Snapshot

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Two Wheeler Industry registered its steepest fall of FY19 in Mar’19 and recorded a de-growth of -17.3%! The
e ort of OEMs to rationalize the dealership stock was clearly visible. The Industry was also marred lower
consumer sentiment, increased insurance premium and shrinking ‘scooter’ segment. As a matter of fact, the
scooter sales declined for the rst time in the last one decade! The decline in scooter sales largely a ected
Honda’s sales and the YoY drop for the Japanese major was -47%!
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A look at YoY Growth of the Two Wheeler OEMs and the Industry –
The Top 3 OEMs recorded a fall in terms of YoY sales!

TVS overtook Honda’s volumes in Mar’19. This was nothing less of a shocker and no one would have
anticipated that Honda’s volume could drop to this extent!
Bajaj, Yamaha & Suzuki reported a positive YoY growth. Bajaj was the most successful mass market bike
maker in FY19 and Mar’19 too was a positive month for the Indian OEM.

Suzuki overtook Royal En eld in Mar’19! Royal En eld is continuously experiencing drop in the volumes
and FY19 has been an extremely tough year. RE was the 5th biggest Two Wheeler OEM in Mar’18 – It’s
ranked dropped to 7th in Mar’19!
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Mahindra 2 Wheelers sales dropped -51.2%! Have they still not started shipping the Jawa bikes in full
swing? The delay is just adding to the owes of the customers who’d have booked the Jawa.

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Comprehensive FY19 Sales Analysis – Passenger

Vehicles
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At the end of nancial year 2018-19 (FY19); we thought of deeply analyzing the Indian Automotive scene and
assess the segment-wise performance of the o erings in the Indian market. FY19 was an extremely tough
year for the Auto Industry and it grew a feeble 2.7% YoY in this scal year v/s FY18. Majority of the OEMs
reported a negative growth and increased discount out ow hampered their bottomlines even more badly.
Similar condition seen at the channel partners end as well where they carried an all time high stock with
mounting expenses. The scenario doesn’t look much better this year too where SIAM has projected a single
digit growth forecast (3% to 5%) for FY20 owing to rise in commodity price, election, below normal monsoon,
BS 6 norms and uctuating interest rates. However the in ux of new OEMs (Kia/MG) in this FY could give
some required boost to renew the consumer interest and catapult the growth levels as well.
Let’s look at the modelwise performance (FY19 v/s FY18) –
art from few established marques; no other models is faring well.
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Top 25 selling models for FY19 –
segment.
So you may be thinking which segments actually in previous Financial Year? We shall try and answer the
question with the mentioned stats –
Entry-Hatchback Segment:
Apart from Alto; all other models reported heavy fall in volumes. The overall segment grew a
phenomenal -15% in FY19 v/s FY18
Nano and Eon also saw their exit from the Indian market this year. The Industry has gone through a
major transitional phase and the Indian Market which was once considered a hatchback dominated
market is slowly upgrading to other segments.
We doubt if any OEM shall even try to launch a new model in this segment. In long run, Alto shall be the
only contender here! Hope, Renault could work some magic on refreshing the Kwid and give it a fresh
lease of life to rightfully compete with Alto.
Compact-Hatchback Segment:
The segment saw a positive growth of 6% owing to launch of new model (Santro) and refreshed avatars
of Swift, Wagon-R. However; the point to note is that out of 14 o erings on sale in the segment in FY19;
9 models reported a decline in sales! It again came as a tricky segment for the OEMs and apart from few
established marques; no other models is faring well.
Santro too was expected to sell much better; but the model failed to meet the expectations. Even; the
late launch of refreshed Wagon-R resulted in decline of volumes for the model.
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Premium Hatchback:

Baleno & i20 have been doing excellent in the segment and both have continuously listed themselves in
the Top 10 selling cars this year.
Baleno has been giving tough competition to its sibling Swift and the volume di erence between them
was a mere ~11k units in this FY. Seeing the trend; we anticipate Baleno to outsell Swift in FY20!
Freestyle gave Ford the required volume boost in the absence of Figo. It was successful to overtake
both Polo & Jazz in terms of FY19 volumes basis aggressive pricing and cross-avatar.
n the SUVsBoth
would be &
Polo comparatively
Jazz struggledmuch higher!
in FY19. Jazz Hence;
volumesit is nancially
almost halvedattractive too forcompared
in FY19 when launchingtoa FY18!
SUV.
Compact Sedan:
Amaze proved be a savior for both Honda and Compact Sedan segment in FY19! The model was one of
the most successful launches of previous FY and in a way revived the segment. Compact Sedan sales
shot up 13% and Amaze was single handedly responsible for the double digit growth!
Apart from Dzire & Amaze; all models reported a decline in volumes. Compact Sedans have always
been compromised models (elevated hatchbacks) to fall under the sub-4m category. The consumers are
not particularly happy with the compromise and has re ected in the sales of the o erings in the
segment.
Executive Sedan: 
ough year for the Auto Industry and it grew a feeble 2.7% YoY in this scal year v/s FY18. Majority of the OEMs
ected a single digit growth forecast (3% to 5%) for FY20 owing to rise in commodity price, election, below normal
may be thinking which segments actually in previous Financial Year? We shall try and answer the question with the
he Indian Market which was once considered a hatchback dominated market is slowly upgrading to other segments.
The segment reported a double digit de-growth in FY19 and apart from Verna all other models saw a
ve growth of 6% owing to launch of new model (Santro) and refreshed avatars of Swift, Wagon-R. However; the point
decline in the sales.
ectations. Even; the late launch of refreshed Wagon-R resulted in decline of volumes for the model. Premium
Toyota entered the segment after a lot of anticipation with the Yaris. However; even Toyota failed
anticipate Baleno to outsell Swift in FY20! Freestyle gave Ford the required volume boost in the absence of Figo. It
miserably to make its presence felt in the segment and now the competition lies between Ciaz, City &
The model was one of the most successful launches of previous FY and in a way revived the segment. Compact
Verna only!
particularly happy with the compromise and has re ected in the sales of the o erings in the segment. Executive
s between Ciaz, City & Verna only! Premium Sedan: ‘A dying segment’ – would be the apt words to describe the
help the segment stay a oat. All other models in the segment have been struggling to garner a sale of even >300
OEM models sales. Compact SUV: The segment grew a positive 6% in FY19 v/s FY19. Brezza volumes have been a
y demanding
Premium and
Sedan:shall not allow any compromises in the vehicle they chose! Mid SUV: Mid SUV has caught the fancy
much higher! Hence; it is nancially attractive too for launching a SUV. Creta was undoubted leader in the segment
V) in FY19. But; the segment saw a decline in overall sales. Even the mighty Fortuner & Endeavour reported a double
aunch is due in FY20. Vans: Vans reported the highest growth comparatively among all segments! Only Maruti models
‘A dying segment’ – would be the apt words to describe the volumes here. However; Honda swam
against the tide and launched a model in the segment this nancial year. And the result was surprisingly
good – Civic’s single month’s sales was almost twice of Elantra’s volumes for the entire FY!
Will be interesting to see if Civic could woo the buyers continuously and help the segment stay a oat.
All other models in the segment have been struggling to garner a sale of even >300 units/mth! Even
adding Civic’s volumes; the segment degrew -7% in FY19 v/s FY18.
Luxury Sedan:
We have termed these models as luxury sedans as they cost almost similar to the Luxury OEM
o erings! However; the segment is losing its sheen and the sales of these models are even lower than
the luxury OEM models sales.

Compact SUV:
The segment grew a positive 6% in FY19 v/s FY19. Brezza volumes have been a matter of envy and all
OEMs are rushing to grab a pie in the segment. Mahindra launched the XUV300 & now Hyundai is
planning to place its ‘Venue’ in the segment.
WRV & TUV300 lost heavily and reported a degrowth of -31% & -33% respectively. It clearly highlights
that the Indian consumers are extremely demanding and shall not allow any compromises in the
vehicle they chose!
Mid SUV:
Mid SUV has caught the fancy of new OEMs primarily due to the sudden shift of consumers preference
towards bigger SUVs. It is also important to note that the OEMs expenditure on bringing a new model
(either SUV/Sedan/Hatchback) is the same; however the margins that the OEMs would make in the SUVs
would be comparatively much higher! Hence; it is nancially attractive too for launching a SUV.
Creta was undoubted leader in the segment and sold almost equal to Grand i10 volumes! Creta ranked
9th in the Top selling vehicles list and the performance was nothing short of a blockbuster!
Even Tata & Nissan have tried to make a mark with the Harrier & Kicks in the segment.
Premium SUV:
Saw launches from M&M (Alturas) & Honda (New CR-V) in FY19. But; the segment saw a decline in
overall sales. Even the mighty Fortuner & Endeavour reported a double digit fall in volumes.
Lifestyle O roader:
With stringent upcoming Emission and CAFE norms; the models in this segment are either going for a
makeover or an upgrade.
Gypsy saw the end of production this year and hopefully should be replaced by Jimny. Even M&M is
working on an updated Thar whose launch is due in FY20.
Vans:
Vans reported the highest growth comparatively among all segments! Only Maruti models are in sale in
this segment and clearly shows why Maruti is a market leader in India!
If you add Omni+Eeco sales for FY19; the numbers are almost equal to Honda Cars India volumes for
FY19. Do not understand why no other OEM is even bothering to enter this segment.

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Indian Car Sales Figures – March 2019

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A look at Modelwise Sales Figures –
Top 25 selling cars of Mar’19 –

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FY19 Car Sales – Snapshot

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The Passenger Car Sales grew a meager 2.8% in FY19 (Apr’18-Mar’19) v/s FY18 (Apr’17-Mar’18). We had
anticipated a growth of over 6% in this nancial year; but the growth forecasts were dropped by >50% citing
the falling demand, increasing interest rates and liquidity crunch. Not to forget the other deterrents which
hampered the growth plans – Kerala Floods, Volatile Fuel costs and increasing Insurance costs. Even the
channel partners (Car Dealers) saw their worst phase in the business where almost all brands were carrying
excessive stocks.
Let us see the YoY performance comparison of the OEMs –
Interesting to see that the Top 7 OEMs posted a positive growth in FY19 v/s FY18 and remaining all 5
OEMs registered a YoY de-growth!
While Tata posted the highest growth amongst all OEMs; It was Nissan+Datsun which seems to lost the
track completely. It not only saw a slump of ~31% in terms of volumes; the new launch ‘Kicks’ too isn’t
performing as per expectations.

Do note that Tata was the only OEM to register a double digit growth in FY19! Surprisingly Tata achieved
this feat with only 1 new model Harrier which launched in this timeframe (that too at the fag end of the
nancial year). It is nice to see that Tata is not only focusing on new model launches; but equal
signi cance is given to elevate their existing portfolio sales.
The growth for the Market Leader Maruti was supported by the Arena channel (6% YoY). Nexa struggled
in previous FY and the sole dependence on Baleno is now showing up.
Hyundai could post a at growth (2%) and this too was possible with the introduction of the iconic
Santro. However Santro wasn’t exactly a successful launch; Hyundai is pinning its hopes on the launch
of the Compact-SUV Venue to gain volumes this year.
Even with 2 new models launched this year (Marazzo & XUV300); Mahindra’s YoY growth was mere 1%!
Honda grew a healthy 8% in FY19 owing to the tremendous success of New Amaze. With no new
models in pipeline this year; it looks to be a di cult year for the Japanese major.
In terms of Market Share; Maruti gained the most! Maruti Suzuki’s Market Share increase by 1.2% in FY19 and
the Market Leader could capture a Market Share of whopping 51.9% in the Indian market! Can the likes of Kia,
MG & Citroen really challenge Maruti’s success run in India? Only time shall tell.

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Top 10 Selling Cars of Mar’19!

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The Top 10 selling cars sold a total of 1,43,896 units in Mar’18 and contributed to >50% of overall car sales in
India! And 8 out of the Top 10 cars were from Maruti’s stable.
Maruti’s most ‘Dzire’able car tops the chart and sells ~20k units in Mar’19. Dzire is now continuously
ruling the chart and looks to stay here for a while.
Baleno ranks second and sells >17k units in Mar’19. The Nexa’s blue eyed boy contributed to >65% of
Nexa’s volumes in India.
Alto is pushed to third rank and shows signs of ageing now. The entry-hatch volumes are draining down
and 2 models mark their exit in FY19! (Nano & Eon). The performance of the models in the segment is
as shown –
The New Wagon R is working the trick and crossed 16k units after 11 months. The Tall Boy ranked 4th in
the list.
Dzire’s younger sibling Swift could only cross 14k units and stood fth in the ranking table. Sixth Ranked
Brezza was just 37 units short of Swift. 
i20 was Hyundai’s best seller for Mar’19 and sold over 12k units. Hyundai’s second best seller was Creta
– Grand i10 now moves out of the Top 10! Maybe a refreshed avatar of Grand i10 is on the cards?

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Bajaj Auto launches the 2019 Dominar 400

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The new Dominar 400 dons a more powerful DOHC engine and up-side down forks
The new Dominar brings in a lot of enhancements with more powerful engine, advanced technological
features and a distinctive throaty exhaust note. The new Dominar now comes with a liquid cooled 373.3cc
DOHC engine that delivers signi cantly higher 40 PS power. This upgrade also features 43 mm upside down
(USD) forks which provides a muscular look along with better handling & comfort. The new twin barrel
exhaust produces throaty exhaust note with heavy bass that augments the sports tourer feel.
The 2019 Dominar 400 is packed with a host of additional o erings, like bungee straps tucked under the seat,
redesigned secondary display showing time, gear position, trip information and space craft inspired tank pad
decals. 
Commenting on the Dominar 2019 upgrade, Mr. Sarang Kanade, President – Motorcycles, Bajaj Auto Ltd
said, “Dominar 400 has been able to create a strong following for itself and has become the preferred choice
for city riders and long distance tourers, alike. Customers have pushed the bike into extreme long distance
and challenging geographies with aplomb, which inspired us to strengthen the sports tourer credentials in the
new Dominar.”
The new Dominar 2019 is now available across all Bajaj Auto dealerships in dual channel ABS variant with
Aurora Green and Vine Black color options at Rs. 1,73,870/- ex showroom Delhi.
Technical Speci cations –

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Ertiga registered its all time highest sale in Mar’19!

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Ertiga sold >8k units in a month (Mar’19) for the rst since its launch!
Since the Ertiga was launched in March 2012; never has the model crossed 8k units in the past 84 months!
However; the New Ertiga has given a fresh lease of life for the model and catapulted its sale to an all time
high. This volume comes at a time where the segment was ignored and had a fresh competition in the name
of Mahindra Marazzo. Maruti proves that it is magically capable of extracting volumes from a segment which
was otherwise losing steam.
Let us have a look at the performance of the o erings in the MPV segment –
The MPV segment grew an impressive 12% YoY and registered a sale of 27,918 units in Mar’19. The
segment was backed by strong numbers from the segment leader Ertiga and was supported by Toyota’s
Innova & Mahindra’s Marazzo.
Renault today con rmed its intent to launch its next o ering in this segment and has named it ‘TRIBER’.

It shall be a critical launch for the French Automaker; as it has already burnt its ngers with Lodgy.
Renault needs to both position and price the vehicle really well to make an impact in the segment. Also
the product has to stand against the mighty Ertiga & Marazzo!
Xylo/Hexa/GO/Sumo/Lodgy – less said, the better.
Ertiga & Marazzo have just raised the hopes for the overall segment and is showing that there is still juice left
here.

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Ciaz – Best selling C-segment Sedan of Mar’19!

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C-segment sedan space is primarily contested by 3 models – Ciaz, City & Verna. While City is the longest selling
nameplate in the list; Ciaz & Verna have been giving sti competition to the legend. In Mar’19; Ciaz sold 3,672
units and emerged as the segment’s bestseller. The segment had always been a tough nut to crack and even
the likes of Toyota have miserably failed in their attempt.
The segment has been slowly shrinking and not a single model in the entire list posted a positive YoY
growth in Mar’19!
Though Ciaz topped the charts; it degrew a hefty -15% in Mar’19 v/s Mar’18. The C-segment o ering
from Nexa has o ate facing pressure to maintain volumes; but the inconsistency in the segment is
making things di cult.
City still continues to be the darling of the segment and registered a sale of 3,432 units. However; the
slowdown in the segment pushed City to post degrowth of -27% YoY.
The numbers clearly project why the new OEM entrants are shying away to launch models in this segment. It
is now a risky a air to invest any amount of time/money to bring models here.

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Luxury Car Market Potential in India

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Background:
Global performance of Luxury Car has been on a high in 2018, but in India last year was a challenging one.
The Retail Volumes of the major luxury car manufacturers for the year 2018 is as shown (Source: Autocar) –
Developed Markets: Luxury Cars, Volumes & Contribution into Total Vehicle Sales:
In developed markets, Luxury vehicles typically account for around 5-6 percent of the overall market.
For eg: In USA, True Blue Luxury Brands (Mercedes, BMW, Tesla, Volvo, Land rover, Porsche, Mini, Jaguar) –
11.13 lakh cars sold out of the Total Vehicle Sales 1.72 crores – 6.37%. Even the premium cars from Ford,
Subaru, Honda, Toyota & Kia stable included in the overall calculation – the approximate penetration should
be looked at 8%.
India & its potential:
True Blue Luxury vehicle Sales in India in 2018 stood at 40,688 nos.; while the Total Vehicle Sales should be
approximately at 34.5 lakh units (yet to be declared by SIAM). i.e, a Luxury vehicle penetration of 1.2%. Even
today the macroeconomic forces, Elections is playing on Customers Minds is slowing down demand. We are
hopeful that the Overall Market alongside with the Luxury Car grows atleast 15% post elections.
Feedbacks from CEO’s – Luxury car Market:
“We are satis ed with our sales performance in 2018 despite facing strong macroeconomic headwinds in H2
(second half), resulting in low consumer sentiment that posed signi cant sales challenges. We, however, made
a strong comeback in the Q4 period (October-December) and were able to achieve a year-on-year growth,”
said Martin Schwenk, MD and CEO, Mercedes-Benz India.
“2018 was surely a challenging one for the auto industry in India, especially in the second half of the year. The
luxury segment was under pressure owing to nancial market development, changing customer sentiment
and changes in tax policies. We faced some unforeseen business challenges during the year, which led to
reduced deliveries for 2018,” said Rahil Ansari, Head, Audi India.
“The auto industry faced strong headwinds in 2018, especially in the second half with tight liquidity conditions,
increased upfront insurance costs and increased lending rates. Despite that, the growth of Jaguar Land Rover 
in India has been very encouraging,” said Rohit Suri, president and MD, JLR India.
OUTLOOK FOR 2019:

Cautiously Optimistic is the Word for 2019…

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4742 units of XUV300 set the roads on re in Mar’19!

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Mahindra launched the XUV300 in Feb’19 and a lot is riding on this model to cement M&M as the third biggest
OEM in the Indian market for FY20 (Apr’19-Mar’20). M&M sold an impressive 4,484 units in the rst month of
the launch itself and overtook the likes of Ford’s Ecosport & Honda’s WRV. It was able to repeat the feat in
Mar’19 and sold a staggering 4,742 nos which was much higher than the sales of Ecosport (4,241 nos) & WRV
(2,552 nos). However; a spurt is seen in Nexon’s sales and the model has now continuously sold >5k units for
three months in a row! Post the announcement of 5-star safety rating in the NCAP tests; Nexon’s acceptability
has shot up signi cantly and the same is seen in its sales volumes.
We have compiled the sales gures of the Compact SUVs (<4 meters) and is as shown –
The overall segment grew by 6% YoY and was supported by additional volumes from XUV300 this year.
Nexon has shown an impressive sales growth and grew 27% YoY which was highest in the segment!
Looks like people are now considering ‘Kitni Safe Hai’ seriously.
Brezza continues its success run and sold over 14k units. Such kind of volumes with only Diesel option
is unbelievable and only Maruti can do it!
WRV is slowly being pushed down the table and it recorded a de-growth of -42% YoY. Similar fate being
experienced by the TUV300 too and the model is just not able to compete with its sibling XUV300.
With Hyundai launching the Venue in May’19; the competition is going to be even more intense and cut
throat. We expect the overall segment to grow double digit this year and give the required volume boost to its
respective OEMs.

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FY18 Sales Analysis

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FY18 Sales Analysis

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4/10/2019 Auto Punditz – Not just another automotive website!

March 2019 Two Wheeler Sales – Snapshot

Book Now Book Now Book Now Book Now

The Top 3 OEMs recorded a fall in terms of YoY sales!

Comprehensive FY19 Sales Analysis – Passenger

Let’s look at the modelwise performance (FY19 v/s FY18) –

art from few established marques; no other models is faring well.

Achrol Niwas A Treehouse Resort

Top 25 selling models for FY19 –

Weddings & Gold

Indian Car Sales Figures – March 2019

A look at Modelwise Sales Figures –

Top 25 selling cars of Mar’19 –

FY19 Car Sales – Snapshot

Let us see the YoY performance comparison of the OEMs –

Top 10 Selling Cars of Mar’19!

Bajaj Auto launches the 2019 Dominar 400

Technical Speci cations –

Ertiga registered its all time highest sale in Mar’19!

Xylo/Hexa/GO/Sumo/Lodgy – less said, the better.

Ciaz – Best selling C-segment Sedan of Mar’19!

Luxury Car Market Potential in India

India & its potential:

Feedbacks from CEO’s – Luxury car Market:

OUTLOOK FOR 2019:

Cautiously Optimistic is the Word for 2019…

4742 units of XUV300 set the roads on re in Mar’19!

OLDER POSTS  (HTTP://WWW.AUTOPUNDITZ.COM/PAGE/2/)

March 2019 Two Wheeler Sales – Snapshot (http://www.autopunditz.com/news/march-2019-two-wheeler-

Indian Car Sales Figures – March 2019 (http://www.autopunditz.com/news/indian-car-sales- gures-

FY19 Car Sales – Snapshot (http://www.autopunditz.com/news/fy19-car-sales-snapshot/) April 5, 2019

Top 10 Selling Cars of Mar’19! (http://www.autopunditz.com/news/top-10-selling-cars-of-mar19/) April 5,

 admin on Indian Car Sales Figures – March 2019 (http://www.autopunditz.com/news/indian-car-sales-

 Rohan on Indian Car Sales Figures – March 2019 (http://www.autopunditz.com/news/indian-car-sales-

 Prasanth on Indian Car Sales Figures – March 2019 (http://www.autopunditz.com/news/indian-car-

 Anoop on Indian Car Sales Figures – March 2019 (http://www.autopunditz.com/news/indian-car-sales-

 Simon Rook on FY19 Car Sales – Snapshot (http://www.autopunditz.com/news/fy19-car-sales-

Copyright © 2018 Autopunditz

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