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India March 2023: Mahindra delivers all-time record volume in market up 4.5%

The new XUV400 EV helps Mahindra reach new heights in India.

It’s a third consecutive record month for car wholesales in India with March volumes up 4.5% year-on-year to 335,888 units, an all time high for the month of March. The Q1 volume is up 10.6% to 1,015,938, logically a new record as well. Maruti Suzuki (-0.8%) edges down to 39.5% share, its first time below the 40% mark since June 2022. Hyundai (+13.5%) hits its largest monthly volume since March 2021 to consolidate its third place at 15.1% share. Tata (+4.1%) remains in third place with 13.1% share vs. 13.3% year-to-date. Mahindra (+31.4%) delivers the largest year-on-year gain in the Top 10 and breaks its all-time volume record at 35,976 units, eclipsing its previous best of 34,262 hit in September 2022. The new XUV400 electric SUV, based on the XUV300, selling almost 2,000 units for its inaugural month, is instrumental to this record. MG (+28.2%) is also very dynamic at #8, with Toyota (+8.5%) beating the market at #6. Below, newcomer Citroen (+3775%) continues to gear up.

The Maruti Suzuki Swift (+28.9%) takes the lead of the brands ranking this month with over 17,500 wholesales, and ascends to #2 year-to-date. For its part the Maruti Suzuki Wagon R (-29.8%) implodes but ranks #2 and even snaps the YTD lead off the Maruti Suzuki Alto down to #14 for the month. The Maruti Suzuki Vitara Brezza (+30.5%) breaks its volume record at 16,227, eclipsing its previous best of 15,832 established in October 2018. The Baleno (+11.3%) follows in 4th place. Once again the Tata Nexon (+3.2%) is the best of the non-Maruti models and clocks in at #5 for the month, two spots above it February ranking. The Maruti Suzuki Grand Vitara breaks into the Indian Top 10 for the first time at #10 and breaks its volume record for the third month running, passing the 10,000 monthly unit bar for the first time.

Previous month: India February 2023: Record market up 10.4%, 6 Maruti Suzukis in Top 6, Toyota up 74.6%

One year ago: India March 2022: Tata, Kia, Nexon and Punch break volume records in stable market (+0.3%)

Full March 2023 Top 14 All brands and Top 75 All models below.

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