Hyundai Venue Overtakes The Tata Nexon To Become The Second Best-selling Sub-4m SUV In August 2023

The Nexon suffered the highest month-on-month loss in August 2023 sales, likely because customers are awaiting the launch of the facelift this month

In August 2023, the Maruti Brezza retained the title of the best-selling subcompact SUV, with the Hyundai Venue some distance behind. They were the only two SUVs that managed to surpass the 10,000-unit sales mark in August, in a segment that experienced an overall month-over-month (MoM) decline of 9.4 percent, with the Tata Nexon suffering the most significant loss. Let's now examine the sales of sub-4m SUV models in August 2023.

Key Takeaways

• Despite experiencing a month-over-month (MoM) decline of nearly 12 percent, the Maruti Brezza still managed to secure its position as the best-selling subcompact SUV in August 2023. With over 14,500 units sold, this Maruti SUV also achieved a year-on-year growth of 6 percent

• The Hyundai Venue climbed to the second spot on the sales table by selling 2,800 units over the Tata Nexon. With a month-over-month (MoM) growth of 8.8 percent, the Venue is the only subcompact SUV on the list, after the Brezza, to surpass the 10,000-unit sales mark. The Venue has also recently received a safety update.

• Sales of the Nexon took a significant hit in August 2023, going down by 34.82 percent, probably as customers are awaiting its update in September. Now, the Tata Nexon facelift, along with its updated electric version boasting a host of new tech features and a refreshed design, is set to be launched on September 14. We expect that Tata's subcompact SUV will regain its momentum in the market.

• At fourth, the Mahindra XUV300 has gained a MoM of over 10 percent in August 2023,with more than 4,900 units sold. Last month, Mahindra also launched the new base-spec variant of the XUV300, which has been one of the major contributors to its sales growth.

• With over 4,000 units sold, the Kia Sonet takes the fifth position in the sales chart. Kia’s subcompact SUV has faced a slight decline of nearly 3 percent in MoM sales. Now, the sunroof equipped variant of the Kia Sonet has become more accessible.

• Nissan retailed more than 2,500 units of the Magnite. Its August 2023 sales almost matches the average sales of the last six months.

• The Renault Kiger was the least selling subcompact SUV in August 2023, failing to retail even 1,000 units. Recently, Renault has also introduced a limited-run ‘Urban Black’ edition of the Kiger, which comes with minor cosmetic changes.

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