Most automobile manufacturers skilled decline in month-on-month (MoM) gross sales in comparison with January 2024
In February 2024, Maruti like all the time took the highest spot for being one of the best promoting automobile model in India. Last month, Tata climbed as much as the second spot beating Hyundai, the fourth time ever. Save for Mahindra, MG, and Renault, all different manufacturers talked about right here have skilled decline in month-to-month gross sales. Let’s take a look on the gross sales efficiency of every model for final month.
|
Brand |
February 2024 |
January 2024 |
MoM Growth % |
February 2023 |
YoY Growth % |
|
Maruti Suzuki |
1,60,272 |
1,66,802 |
-3.9 |
1,47,467 |
8.7 |
|
Tata |
51,270 |
53,635 |
-4.4 |
42,865 |
19.6 |
|
Hyundai |
50,201 |
57,115 |
-12.1 |
46,968 |
6.9 |
|
Mahindra |
42,401 |
43,068 |
-1.5 |
30,221 |
40.3 |
|
Toyota |
23,300 |
23,197 |
0.4 |
15,267 |
52.6 |
|
Kia |
20,200 |
23,769 |
-15 |
24,600 |
-17.9 |
|
Honda |
7,142 |
8,681 |
-17.7 |
6,086 |
17.4 |
|
MG |
4,532 |
3,825 |
18.5 |
4,193 |
8.1 |
|
Renault |
4,080 |
3,826 |
6.6 |
6,616 |
-38.3 |
|
Volkswagen |
3,019 |
3,267 |
-7.6 |
3,313 |
-8.9 |
Key Takeaways
-
Maruti Suzuki continued to be the top-selling automobile model in India in February 2024. The automaker retailed greater than 1.60 lakh items final month, which is greater than the mixed gross sales of Tata, Hyundai, and Mahindra. Though the model noticed a decline of practically 4 p.c in month-on-month (MoM) gross sales, its year-on-year (YoY) progress was roughly 9 p.c.
-
Tata overtook Hyundai in February 2024 gross sales by promoting greater than 50,000 vehicles in February 2024. The model additionally registered a YoY progress of practically 20 p.c.
-
Hyundai’s MoM gross sales declined by over 12 p.c in February 2024, although it nonetheless crossed the 50,000-unit mark.
-
Even although Mahindra’s MoM gross sales dipped by 1.5 p.c final month, the automaker bought greater than 42,000 SUVs in February. The Indian automaker additionally registered important progress of over 40 p.c in YoY gross sales.
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Toyota additionally climbed as much as the fifth spot within the gross sales desk overtaking Kia, by promoting 23,000-odd items final month. Its MoM demand grew by a small margin, whereas it additionally witnessed the best YoY progress of practically 53 p.c.
-
Kia’s month-to-month gross sales declined by 15 p.c in February 2024. The automaker retailed over 20,000 vehicles final month, however noticed a downfall of practically 18 p.c in yearly gross sales.
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Though Honda registered a YoY progress of practically 17.5 p.c final month, its February gross sales nonetheless fell brief by over 1,500 items in comparison with January 2024.
-
MG is the one automaker right here to witness a constructive progress in each MoM and YoY gross sales of 18.5 p.c and over 8 p.c, respectively. The carmaker retailed greater than 4,500 in February 2024.
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Though Renault witnessed the most important decline of greater than 38 p.c in yearly gross sales, it managed to promote greater than 4,000 vehicles final month. The model registered a MoM progress of near 7 p.c.
-
With slightly over 3,000 items dispatched, Volkswagen took the final spot on the gross sales chart. The German automake’s MoM and YoY figures dipped by over 7.5 p.c and practically 9 p.c, respectively.