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India February 2022: Mahindra (+79.2%), Tata (+46.9%) can’t prevent market dip (-1.9%)

The new Neo variant pushes Mahindra Bolero sales to a 7-year high.

New car wholesales in India dip -1.9% year-on-year in February to 302,756 units, sending the year-to-date volume down -2.4% to 597,524. Maruti Suzuki (-7.5%) drops faster than the market to 44.2% share, in line with its YTD level (44%) while Hyundai (-14.6%) does even worse to 14.5% share. Tata (+46.9%) surges and is lurking only 4,000 sales behind Hyundai. Mahindra (+79.2%) lodges the largest gain in the Top 9 to reach 9.1% share vs. 7.9% so far this year. Kia (+8.5%) also defies the market gloom to stay in 5th place. Below, Renault (-40.5%), Toyota (-37.8%) and Honda (-22.9%) are all in very bad posture. MG (+4.6%) and Skoda (+427.9%) round out the Top 10 while Volkswagen (+84.3%) also shines just outside.

Skoda Slavia

Model-wise, the Maruti Suzuki Swift (-5.2%) takes control both for the month and year-to-date while the Maruti Suzuki Dzire (+46.5%) catches up on paltry year-ago results to land in 2nd place. Leader last month and over the Full Year 2021, the Maruti Suzuki Wagon R (-21.7%) is down to #3 this month ahead of the Maruti Suzuki Baleno (-37.4%). The Tata Nexon (+54.6%) continues to evolve frankly above year-ago levels and ranks #5 in February and #4 year-to-date vs. #10 over FY2021. The Maruti Suzuki Ertiga (+19.2%) is also very dynamic at #6 as is the Maruti Suzuki Celerio (+59.3%) but the largest year-on-year gain in the Top 10 goes to the Mahindra Bolero at +128.1% to #8 vs. #27 in January, potentially due to the arrival of the new Bolero Neo. The Bolero’s February volume (11,045) is its highest in 7 years: since March 2014 (11,294) and fourth highest ever below March 2013 (11,675) and October 2012 (11,071). Mahindra also posts record volumes for the Thar (5,072) and XUV700 (4,138). Best-selling newcomer the Tata Punch slides outside the Top 10 to #12 and distances the Kia Carens up to a record 5,109 units at #20. We welcome the Skoda Slavia, replacing the Rapid, at #48.

Previous month: India January 2022: Tata Nexon and Punch break volume records in market dipping -2.8%

One year ago: India February 2021: Volumes up 23.1%, Renault Kiger and new Tata Safari land

Full February 2022 Top 15 All locally-made brands and Top 75 All-models below.

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