India: car market recovered 5% in August while strong imported vehicles prices anticipate a storm.

Accordingly with data released by SIAM, the Indian Society of Automotive Manufacturers, following a series of 7th year-on-year declining month in a row, in August 2013 the Indian car passengers market was back positive compared with last year, posting 183.561 sales, up 5.1%.

However, we must mention as last year August sales had been heavily penalized by Maruti plant shutdown due to labor troubles and riots. So the real trend was still negative and the next month’s perspectives. Year to date August sales were 1.651.000, down 8.4% from last year.

The country is suffering high interest rate and strong currency depreciation in a surging inflationary climate. Important to mention that the two wheeler manufactures have recorded growth in August 2013 since potential first time car owners might be switching to bikes for now.

The industry keeps asking for incentives from the central government but this is not going to happen anytime soon.

German luxury car makers Mercedes-Benz, Audi and BMW Group announced during the month an increase in the car prices to partly offset impact of rupee depreciation and higher import duties (Mercedes up to 4.5% from September 1st, BMW group by up to 5 per cent, Audi by up to 4 per cent). Also not premium brands announced increase on imported models. So General Motors India had hiked the price of its three models by up to Rs 10,000 from the first week of September and Ford did the same.

Furthermore, these increases will not match the loss already accumulated by OEMs for rupee depreciation and it is foreseen a second round of price increase in January and potentially a third later in 2014.

The consequence on imported vehicles sales will arrive soon and the market will further be depressed. Actually we kept stable our full year 2013 projections issued in July, while are revising down 2014 volumes.

Looking at the top brands performance in the last month:

Maruti confirmed also in August its market leadership selling 76.018 units with a share of 41.4%, down 0.4 points from the previous month. Year to date sales were 705.560 with a share of 42.8%, 2.8 points higher than in the year end 2012. The Alto’s numbers remain below the 20k line indicating how the Indian economy affects mostly the lower middle class.

Hyundai was as always 2nd with 28.311 sales and a share of 15.4% (up 0.9 points from the previous month). Year-to-date sales were 251.553 with a share of 15.2%, keeping Hyundai as the only top five brands posting a year over year increase. Hyundai kept 5 models in the top 25, thereof the Eon was 5th.

Mahindra & Mahindra was 3rd selling 15.821 units with the share at 8.6%, stable from the previous month. Year-to-date sales were 167.358 with a share of 10.1%. Mahindra kept 2 models in the top 25, with the Bolero in 6th position, losing 1 spot from July.

Toyota confirmed the 4th place with 12.007 sales and a share of 6.5%, up 0.1 points from the previous month. Year-to-date sales were 95.065 units with a share of 6.0%. The top model was the Innova stable in 11th place.

Tata confirmed the negative 2013 and was 5th selling 11.564 units with a share of 6.3%, up 0.3 points from the previous month. Year to date sales were 99.099 units with a share of 6%. The best-selling model was the Indica/Vista in 14th position.

Honda continued to do well on the success of its new entry level sedan Amaze and was 6th with 8.913 sales and 4.9% of share, down 1.3 points from the previous month but far above 2012 (2.7% share). Year-to-date sales were 71.265 with a share of 4.3%. The top model was the New Amaze, grown in 7th place.

Ford in the 7th place sold 8.008 units for a share of 4.4%, as the previous month. Year-to-date Ford was 46.848 sales and 2.8% of share. Behind the recent boom there is the launch of new SUV Ecosport, which entered in top ten last month.

Chevrolet was 8th selling 6.673 units with a share of 3.6%, as in July. Year-to-date sales were 60.143 with a share of 3.6%. The top selling model was the Beat in 19th, up 5 spots from the previous month.

Volkswagen was 9th selling 4.805 units with the share flat at 2.6%. Year-to-date sales were 43.818 with share at 2.7%.

Renault was 10th with 3.733 sales and with a share at 2.0%. Year-to-date sales were 45.986 with a share of 2.8%. The best-selling model was the Duster in 18th.

In the table below, the Top 15 Brands, ranked for the year-to-date position:

Rank Aug

Rank Jul

Rank 2013

Brand

Aug

YTD 2013

FY 2012

I Half 2013

Jul 2013

Aug 2013

Ytd   2013

1

1

1

Maruti

76.018

705.560

40,0%

43,1%

41,8%

41,4%

42,8%

2

2

2

Hyundai

28.311

251.553

14,7%

15,3%

14,5%

15,4%

15,2%

3

3

3

Mahindra

15.821

167.358

9,9%

10,6%

8,6%

8,6%

10,1%

4

4

4

Toyota

12.007

99.099

6,5%

5,9%

6,4%

6,5%

6,0%

5

6

5

Tata

11.564

95.065

10,9%

5,6%

6,0%

6,3%

5,8%

6

5

6

Honda

8.913

71.265

2,7%

4,0%

6,2%

4,9%

4,3%

7

7

8

Ford

8.008

46.848

3,3%

2,4%

4,4%

4,4%

2,8%

8

8

7

Chevrolet

6.673

60.143

3,5%

3,6%

3,6%

3,6%

3,6%

9

9

10

Volkswagen

4.805

43.818

2,5%

2,7%

2,6%

2,6%

2,7%

10

10

9

Renault

3.733

45.986

1,3%

3,0%

2,1%

2,0%

2,8%

11

12

11

Nissan

2.494

18.120

1,7%

1,1%

0,7%

1,4%

1,1%

12

11

12

Skoda

1.374

14.446

1,3%

0,9%

0,9%

0,7%

0,9%

13

13

16

Fiat

1.003

4.728

0,4%

0,2%

0,5%

0,5%

0,3%

14

14

14

BMW

710

5.654

0,4%

0,3%

0,4%

0,4%

0,3%

15

15

13

Audi

701

5.904

0,3%

0,3%

0,4%

0,4%

0,4%

Maruti Alto confirmed it market leadership with 17.124 sales in the month and 171.736 year to date.

Maruti Swift advanced in 2nd with 14.152 sales and a share of 7.7%, up 1.9 points from the previous month, followed by Maruti DZire in 3rd , which gained one spot from July, with 13.723 sales and a share of 7.5%, down 1.0 point from the previous month.

Maruti Wagon R dropped in 4th with 12.748 units and a share of 6.9%, down 0.6 points from the previous month, followed by Hyundai Eon in 5th with 7.991 sales and a share of 4.4%, up 0.5 points and by Mahindra Bolero in 6th with 7.030 sales and a share of 3.8%, down 0.1 points from the previous month.

Honda Amaze was 7th with 6.242 units and a share of 3.4%, down 0.2 points from the previous month, followed by the Hyundai i10 in 8th with 6.017 sales and a share of 3.3%, down 0.4 points from July.

In the table below, the Top 25 models ranked for the last month position:

Rank Aug

Rank Jul

Rank 2013

Model

Aug

YTD 2013

FY 2012

I Half 2013

Jul 2013

Aug 2013

YTD 2013

1

1

1

Maruti Alto

17.124

   172.736

10,7%

10,6%

10,1%

9,3%

10,4%

2

4

3

Maruti Swift

14.152

   130.849

7,0%

8,2%

5,8%

7,7%

7,9%

3

2

2

Maruti DZire

13.723

   133.685

5,8%

8,1%

8,5%

7,5%

8,1%

4

3

4

Maruti Wagon R

12.748

   104.546

5,2%

6,1%

7,5%

6,9%

6,3%

5

6

6

Hyundai Eon

7.991

     65.045

3,4%

3,9%

3,9%

4,4%

3,9%

6

5

5

Mahindra Bolero

7.030

     73.901

4,2%

4,6%

3,9%

3,8%

4,5%

7

8

16

Honda Amaze

6.242

     31.162

0,0%

1,4%

3,6%

3,4%

1,9%

8

7

7

Hyundai i10

6.017

     63.009

3,7%

3,9%

3,7%

3,3%

3,8%

9

9

8

Hyundai i20

5.695

     51.868

3,2%

3,2%

3,0%

3,1%

3,1%

10

10

31

Ford Ecosport

5.372

     14.089

0,0%

0,3%

2,6%

2,9%

0,9%

11

11

9

Toyota Innova

5.075

     43.105

2,8%

2,6%

2,6%

2,8%

2,6%

12

14

12

Maruti Omni

4.860

     38.081

2,9%

2,2%

2,3%

2,6%

2,3%

13

12

11

Maruti Ertiga

4.563

     41.574

2,2%

2,5%

2,5%

2,5%

2,5%

14

13

10

Tata Indica/Vista

4.260

     41.742

3,6%

2,6%

2,4%

2,3%

2,5%

15

15

14

Hyundai Verna

3.882

     35.285

2,2%

2,2%

1,9%

2,1%

2,1%

16

17

15

Mahindra Scorpio

3.356

     32.868

1,9%

2,0%

1,8%

1,8%

2,0%

17

16

20

Maruti Eeco

3.096

     26.132

1,7%

1,5%

1,9%

1,7%

1,6%

18

18

13

Renault Duster

2.967

     37.995

0,8%

2,5%

1,7%

1,6%

2,3%

19

24

25

Chevrolet Beat

2.926

     19.312

1,9%

1,1%

1,4%

1,6%

1,2%

20

25

21

Volkswagen Polo

2.908

     25.304

1,4%

1,5%

1,4%

1,6%

1,5%

21

20

22

Toyota Etios

2.590

     22.444

1,6%

1,3%

1,5%

1,4%

1,4%

22

28

27

Toyota Liva

2.578

     18.512

1,2%

1,1%

1,2%

1,4%

1,1%

23

23

18

Maruti Ritz

2.533

     28.286

2,4%

1,8%

1,4%

1,4%

1,7%

24

27

28

Tata Indigo/Manza

2.420

     18.288

2,4%

1,1%

1,2%

1,3%

1,1%

25

19

17

Hyundai Santro

2.417

     29.586

1,8%

1,9%

1,6%

1,3%

1,8%

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