While the numbers are in the red in December, Jeep India has posted a healthy YoY growth of 13.83% during CY 2022
With its expanded portfolio, Jeep India has been able to boost sales in CY 2022. A total of 13,263 units were sold in 2022, as compared to 11,652 units in CY 2021.
As may be recalled, Jeep had launched Meridian earlier this year in May, followed by 2022 Grand Cherokee in November. Jeep India portfolio also has Compass and Wrangler SUVs. Compass is the most affordable and continues to be the primary volume generator for the company in India.
Jeep India CY2022 sales
Jeep India has posted positive growth in the first three quarters of CY2022. YoY growth was 10.40% in Q1, 76.45% in Q2 and 5.72% in Q3. Surprisingly, Jeep India sales growth is negative during the festive season. Throughout Sep, Oct, Nov and Dec, the company has posted negative YoY growth. As a result, Q4 YoY growth is down by -14.98%. It has also impacted H2 numbers, which is down by -4.47%. In comparison, H1 YoY growth was pretty good at 38.45%.
Highest sales in 2022 was in June, with 1,909 units sold. This was probably due to the sales boost provided by Jeep Meridian. Lowest sales were in December at 769 units. On an average, Jeep India has registered sales of around 1,105 units per month. In December, Jeep India had negative YoY growth of -16.05%. Sales in the corresponding period last year were at 916 units. December MoM growth is also negative at -13.98%, as compared to 894 units sold in November 2022.
Jeep upcoming SUVs
With positive market response, Jeep has plans to strengthen its presence in Indian market. In 2023 and beyond, multiple new products are expected to be launched. Going forward, Jeep could increase focus on launching affordable vehicles to boost sales. The likes of Meridian, Wrangler and Grand Cherokee are hugely desirable, but sales are limited due to the high pricing.
To boost sales, Jeep will have to target the C-segment and B-segment SUV space. These are the fastest growing segments and have a major share in overall SUV sales in the country. Some of the most popular SUVs in this space include Tata Nexon, Maruti Brezza, Hyundai Venue, Kia Sonet, Hyundai Creta and Kia Seltos. Recently launched Maruti Grand Vitara and Toyota HyRyder have also been registering strong sales. Skoda Kushaq is another popular compact SUV.
One of the possibilities for Indian market could be Jeep Avenger that has been spotted multiple times in recent months. It is one of the 100 new vehicles that Stellantis has planned to launch by 2030. Jeep Avenger will be a compact SUV, rival to the likes of Creta and Seltos. It will be sold in several countries across the globe.
Jeep Avenger is built on the CMP platform and utilizes a FWD setup. It is expected to be available with both petrol and full electric powertrains. ICE variants will have a 1.2-litre turbo petrol motor. Onboard Citroen C3, this engine generates max power of 110 PS and peak torque of 190 Nm. Jeep Avenger is expected to get both manual and automatic transmission options. Electric version of Jeep Avenger has a power output of 156 hp and a range of around 550 km (WLTP standard).