Most automotive manufacturers have registered a optimistic month-on-month (MoM) gross sales progress in final month’s gross sales
The brand-wise gross sales report for March 2024 is out, and as typical, Maruti Suzuki stays the best-selling automotive model in India, with Hyundai, Tata, Mahindra, and Toyota additionally securing spots within the high 5. While most manufacturers recorded optimistic month-over-month (MoM) progress final month, just a few confronted year-on-year (YoY) gross sales losses. Let’s take a more in-depth take a look at the efficiency of every model in March 2024 gross sales.
|
Brand |
March 2024 |
February 2024 |
MoM Growth % |
March 2023 |
YoY Growth % |
|
Maruti Suzuki |
1,52,718 |
1,60,272 |
-4.7 |
1,32,763 |
15 |
|
Hyundai |
53,001 |
50,201 |
5.6 |
50,600 |
4.7 |
|
Tata |
50,105 |
51,270 |
-2.3 |
44,047 |
13.8 |
|
Mahindra |
40,631 |
42,401 |
-4.2 |
35,976 |
12.9 |
|
Toyota |
25,119 |
23,300 |
7.8 |
18,670 |
34.5 |
|
Kia |
21,400 |
20,200 |
5.9 |
21,501 |
-0.5 |
|
Honda |
7,071 |
7,142 |
-1 |
6,692 |
5.7 |
|
MG |
4,648 |
4,532 |
2.6 |
6,051 |
-23.2 |
|
Renault |
4,225 |
4,080 |
3.6 |
5,389 |
-21.6 |
|
Volkswagen |
3,529 |
3,019 |
16.9 |
3,900 |
-9.5 |
Key Takeaways
-
In March 2024, Maruti Suzuki alone offered greater than 1.5 lakh automobiles in India, surpassing the mixed gross sales of Hyundai, Tata, and Mahindra. Although Maruti’s MoM gross sales declined by almost 5 p.c, it nonetheless achieved a 15 p.c progress in YoY gross sales.
-
Hyundai surpassed Tata to develop into the second best-selling automotive model in March 2024. The Korean automaker offered round 53,000 automobiles final month, with optimistic progress of 5.6 p.c and 4.7 p.c in each MoM and YoY gross sales, respectively.
-
Tata slipped to the third spot within the gross sales desk, although it nonetheless crossed the gross sales mark of fifty,000 models final month. Though Tata’s MoM gross sales dipped by greater than 1,000 models final month, the Indian automaker registered a progress of 14 p.c in YoY gross sales.
- Mahindra dispatched greater than 40,600 SUVs final month, taking successful of over 4 p.c in month-to-month gross sales. However, its yearly gross sales have elevated by nearly 13 p.c.
-
With over 25,000 automobiles offered, Toyota not solely registered almost 8 p.c progress in MoM gross sales, but it surely additionally registered the very best progress of 34.5 in YoY gross sales.
-
Kia additionally registered a progress of virtually 6 p.c in MoM gross sales with over 21,000 automobiles offered in March 2024. The Korean automaker additionally maintained a constant demand in YoY gross sales.
-
Honda was one other constant performer final month, as soon as once more surpassing the gross sales mark of seven,000 models in March 2024, with solely a 1 p.c decline in MoM gross sales. The Japanese automaker additionally recorded YoY progress of almost 6 p.c.
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Though MG offered over 4,500 automobiles in March 2024 with a month-to-month progress of round 3 p.c, its yearly gross sales dropped by greater than 1,400 models in March 2024.
-
Renault additionally managed to cross the gross sales mark of 4,000 models final month, but it surely confronted a decline of almost 22 p.c in YoY gross sales.
-
At final, Volkswagen offered greater than 3,500 automobiles in March 2024 registering a progress of round 17 p.c in MoM gross sales. However, its YoY gross sales dipped by almost 10 p.c in March 2024.