The Tata Nexon witnessed a month-on-month drop in gross sales of over 20 % however nonetheless shipped over 10,000 items
The subcompact SUV gross sales figures for April 2024 revealed that the general MoM demand of the section stayed steady, however solely as a result of the expansion of some fashions offset the decline of others. Leading the charts are sub-4m SUVs from Maruti and Tata with over 10,000 unit gross sales every. Let’s take a look on the detailed gross sales report for every subcompact SUV within the desk beneath.
Sub-compact SUVs & crossovers
April 2024
March 2024
MoM Growth
Market share present (%)
Market share (% final yr)
YoY mkt share (%)
Average Sales (6 months)
Maruti Brezza
17113
14614
17.1
32.43
21.23
11.2
14662
Tata Nexon
11168
14058
-20.55
21.16
26.91
-5.75
15454
Hyundai Venue
9120
9614
-5.13
17.28
18.51
-1.23
10587
Kia Sonet
7901
8750
-9.7
14.97
17.47
-2.5
7053
Mahindra XUV300
4003
2072
93.19
7.58
9.08
-1.5
4033
Nissan Magnite
2404
2701
-10.99
4.55
4.69
-0.14
2583
Renault Kiger
1059
1050
0.85
2
2.08
-0.08
859
Total
52768
52859
-0.17
Key Takeaways
With over 17,000 items retailed, the Maruti Brezza remained the best-selling subcompact SUV within the section, the very best tally for the sub-4m SUV in over a yr. It recorded a progress of practically 17.1 % in MoM gross sales, at the moment holding the very best market share % of over 32 % within the section.
Tata Nexon’s gross sales in April 2024 fell by greater than 20 %, promoting shut to six,000 items fewer in comparison with the Maruti Brezza. It was nonetheless the one different sub-4m SUV to cross 10,000 unit gross sales for the earlier month.
The Hyundai Venue additionally skilled a drop in MoM demand with practically 500 fewer gross sales. It nonetheless managed to safe the third place.
Despite a decline of practically 10 % in month-to-month gross sales, Kia nonetheless dispatched over 7,900 items of the Sonet in April 2024. This determine is over 850 items greater than its common gross sales over the previous six months.
The subsequent best-selling mannequin of the section was the Mahindra XUV300, crossing over 4,000 unit gross sales. The subcompact SUV achieved the very best MoM progress of over 93 % in April 2024 gross sales. Its facelift substitute was launched on the finish of April, the Mahindra XUV 3XO.
The Renault Kiger was the least in style subcompact SUV in April 2024 and it solely discovered over 1,000 consumers final month. However, its efficiency final month’s efficiency was higher than common gross sales of the final six months. Meanwhile, its mechanical sibling the Nissan Magnite loved over 2,400 unit gross sales for a similar month.
The month-on-month gross sales for the Maruti Grand Vitara, Toyota Hyryder and Honda Elevate dropped considerably
The model-wise gross sales and manufacturing knowledge for April 2024 is out and we’ve compiled the efficiency of the hotly contested compact SUV phase. As an entire, the phase witnessed notably fewer models shipped than March 2024. Here’s the total mannequin sensible gross sales figures for the phase:
April 2024
March 2024
MoM Growth
Market share present(%)
Market share (% final 12 months)
YoY mkt share (%)
Average gross sales (6 months)
Hyundai Creta
15447
16458
-6.14
39.76
45.31
-5.55
13180
Maruti Grand Vitara
7651
11232
-31.88
19.69
24.73
-5.04
10239
Kia Seltos
6734
7912
-14.88
17.33
23.04
-5.71
9095
Toyota Hyryder
3252
5965
-45.48
8.37
8.35
0.02
4846
Volkswagen Taigun
1758
1588
10.7
4.52
4.85
-0.33
1766
Honda Elevate
1731
3277
-47.17
4.45
0
4.45
4189
Skoda Kushaq
1159
1293
-10.36
2.98
6.9
-3.92
1725
MG Astor
1019
1274
-20.01
2.62
2.24
0.38
952
Citroen C3 Aircross
93
211
-55.92
0.23
0
0.23
193
Total
38844
49210
-21.06
Key Takeaways
The complete compact SUV phase witnessed a drop in demand for the month of April, shrunk by one-fifth, however nonetheless loved near 40,000 unit gross sales.
Hyundai continues to dominate the phase with the Creta which was the one SUV to realize greater than 10,000 unit gross sales final month. Its month-on-month (MoM) demand dropped by over 6 %, however nonetheless loved gross sales of over 15,000 models. Its calls for embody the gross sales of the Creta N Line.
The Maruti Grand Vitara had the most important MoM losses by way of unit gross sales dropping by greater than 30 %, and the April 2024 gross sales tally stood at a bit of over 7,600 models. In comparability, the common gross sales of the final 6 months for this compact SUV are over 10,000 models.
It wasn’t a great month for the opposite model of the Grand Vitara SUV both, because the Toyota Hyryder gross sales dropped by over 45 % MoM and was the fourth highest-selling mannequin of the phase.
Kia witnessed a drop in MoM demand for the Seltos by nearly 15 %, with a tally effectively beneath its 6-month common gross sales of round 9,000 models.
The Volkswagen Taigun was the one compact SUV with a constructive MoM development, 10 %, for April 2024 gross sales as its tally crossed 1,700 models. Meanwhile, its Skoda-badged sibling, the Kushaq suffered a ten % MoM drop in gross sales with lower than 1,200 models offered.
Production for the Honda Elevate almost halved in April in comparison with March, probably in preparation for the MY2024 updates that improved the SUV’s general security package deal.
The MG Astor gross sales decreased by greater than half this earlier month, barely crossing the 1,000 unit gross sales mark.
At the underside of the phase’s month-to-month gross sales desk, we now have the Citroen C3 Aircross which didn’t even handle to ship 100 models in April.
Expect most of those gross sales figures to be nearer to their common figures within the following month.
All automotive manufacturers besides Mahindra skilled a decline in month-on-month (MoM) gross sales in comparison with March 2024
In April 2024, Maruti, as at all times, took the highest spot for being the best-selling automotive model in India, with Hyundai, Tata, Mahindra, and Kia additionally securing spots within the high 5. While few manufacturers recorded optimistic year-on-year (YoY) development, all however Mahindra confronted month-over-month (MoM) gross sales loss. Let’s take a more in-depth have a look at the efficiency of every model in April 2024 gross sales.
Brand
April 2024
March 2024
MoM Growth %
April 2023
YoY Growth %
Maruti Suzuki
1,37,952
1,52,718
-9.7%
1,37,320
0.5%
Hyundai
50,201
53,001
-5.3%
49,701
1.0%
Tata
47,885
50,105
-4.4%
47,010
1.9%
Mahindra
41,008
40,631
0.9%
34,694
18.2%
Kia
19,968
21,400
-6.7%
23,216
-14.0%
Toyota
18,700
25,119
-25.6%
14,162
32.0%
MG
4,485
4,648
-3.5%
4,551
-1.5%
Honda
4,351
7,071
-38.5%
5,313
-18.1%
Renault
3,707
4,225
-12.3%
4,323
-14.2%
Volkswagen
3,049
3,529
-13.6%
3,032
0.6%
Key Takeaways
Maruti Suzuki continued to be the top-selling automotive model in India in April 2024. The automaker retailed greater than 1.37 lakh models, which is greater than the mixed gross sales of Hyundai and Tata. Though the model noticed a decline of almost 9.7 % in month-on-month (MoM) gross sales, its year-on-year (YoY) development was roughly solely 0.5 %.
Hyundai stays forward of Tata because the second-best-selling automotive model in April 2024 with over 50,000 unit gross sales. The Korean automaker noticed a unfavourable development of 5.3 % and a optimistic development of 1 % in each MoM and YoY gross sales, respectively.
Tata’s MoM gross sales dipped by greater than 3,000 models (approx) final month, the Indian automaker registered a development of 1.9 % in YoY gross sales.
Mahindra dispatched greater than 41,000 SUVs final month. It was the one model on this checklist that had optimistic MoM development however solely a measly 0.9 %. However, its yearly gross sales have elevated by virtually 18.2 %. We anticipate this tally to go increased in coming months following the launch of the Mahindra XUV 3XO.
Kia witnessed a decline of virtually 6.7 and 14 % in MoM and YoY gross sales with over 20,000 automobiles bought in April 2024.
With over 19,000 automobiles bought, Toyota registered the very best YoY development on this checklist of 32 %. However, it noticed a decline of 25.6 % gross sales in MoM development.
Though MG bought over 4,500 automobiles in April 2024 with a month-to-month decline of round 3.5 %, its yearly gross sales dropped by 1.5 %.
Honda noticed the very best MoM decline of 38.5 %. The gross sales dipped by virtually 2,700 models in April 2024. The Japanese automaker additionally recorded a YoY decline of almost 18.1 %. This drop is probably going as a result of introduction of MY2024 updates throughout the lineup in April and can possible go as much as the standard gross sales of over 5,000 models a month.
Renault additionally managed to cross the gross sales mark of three,700 models final month, but it surely confronted a decline of 14.2 % in YoY gross sales.
Volkswagen bought round 3,500 automobiles in March 2024 respectively, going through a decline in each MoM and YoY gross sales.
The electric vehicle (EV) sales slowdown is real and it is at the moment occurring as we communicate. As quite a few analysts have predicted, whereas gross sales could (or could not) proceed to develop in 2024, that tempo of growth is going to be a lot slower in 2024. In reality, there may even be quarters the place EV gross sales could also be decrease than the prior quarter. The purpose? Most EV buyers have been early adopters, and now in 2024, a lot of the early adopters already personal an EV. The subsequent problem now for the automotive business is to persuade the mainstream purchaser to modify to an EV.
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However, that is not going to occur in a single day. The EV shift goes to be sluggish and gradual, and a stepping stone will probably be wanted. Thankfully, that is already existed since 1997 because of Toyota and its various vary of hybrids. What was simply the Prius, Toyota now has a hybrid throughout all automobile segments, and that features actually all of its SUVs.
At the identical time, SUVs and crossovers are all the trend as of late. We additionally know that most hybrids nowadays have the best resale values–even in comparison with vehicles with purely simply an inside combustion engine (ICE). So a hybrid SUV have to be probably the most fascinating automobile in 2024, proper? Yes, certainly! So if you’re seeking to purchase a one-year-old (labeled as barely utilized by iSeeCars) hybrid SUV with the considering that you’re going to be saving some huge cash, this can be a automobile you are really higher off going the brand-new route as a substitute.
When Toyota revealed the $10,000 Hilux Champ final 12 months, pleasure was at an all-time excessive — however the query stays, whether or not or not we’ll have it.
In order to provide the most modern and correct info attainable, the information used to compile this text was sourced from numerous producer web sites and different authoritative sources, together with Cox Automotive, iSeeCars, and Toyota.
A Toyota Sequoia Hybrid Has The Best Resale Value
According to iSeeCars, the hybrid SUV with the best resale value is, unsurprisingly, a Toyota. The brand-new three-row Sequoia, to be exact. Remember the half the place the depreciation curve is at its steepest through the first 5 years of possession? Well, that does not appear to be the case with the brand new Sequoia.
It Loses Less Than Five-percent Of Its Value
Cars are not often an funding, and even for the Sequoia, that is nonetheless the case. However, if you wish to take advantage of out of your buck, the new Sequoia, which is solely provided as a hybrid in 2024, solely loses 4.6 % of its worth after a 12 months. This is a automobile we would not advocate getting as barely used because of how little worth it loses in a 12 months, so that you’re higher off in search of the spec you need at a dealership. However, should you handle to discover a one-year-old mannequin that matches your spec, you’ll certainly take pleasure in a tiny quantity of savings–probably one which’s sufficient so that you can go on a vacation.
How It Compares To Other Cars
In the iSeeCars checklist of autos with the least quantity of one-year depreciation, there may be one other automobile that competes in the identical phase because the Sequoia. While the Sequoia is seventh on this checklist, the Chevrolet Tahoe is fifteenth, dropping 8.1 % of its worth in a 12 months. Still good, thoughts you, however versus the Sequoia? The clear winner is clear.
Rank
Model
% Difference Used Over New
$ Difference Used Over New
Used Price
1
Land Rover Range Rover
2.8%
$4,067
$147,311
2
Kia Rio
-0.1%
-$21
$18,682
3
Mercedes-Benz G-Class
-2.3%
-$4,587
$196,112
4
Ford Maverick
-4.1%
-$1,385
$32,505
5
Ford Maverick Hybrid
-4.4%
-$1,474
$32,039
6
Toyota Sequoia Hybrid
-4.6%
-$3,737
$77,653
7
Toyota Corolla Hybrid
-5.0%
-$1,359
$26,038
8
Toyota RAV4 Hybrid
-5.3%
-$2,131
$37,727
9
Honda Civic
-5.5%
-$1,577
$26,934
10
Kia Sportage Hybrid
-5.9%
-$2,085
$33,397
11
Tesla Model X
-6.9%
-$5,993
$80,471
12
Nissan Versa
-7.1%
-$1,480
$19,452
13
Honda CR-V Hybrid
-7.5%
-$2,963
$36,474
14
Toyota Corolla Hatchback
-7.9%
-$2,131
$24,838
15
Chevrolet Tahoe
-8.1%
-$6,079
$69,042
16
Tesla Model Y
-8.3%
-$3,867
$42,649
17
Chevrolet Corvette
-8.4%
-$6,945
$76,050
18
Chevrolet Traverse
-8.5%
-$3,782
$40,648
19
GMC Sierra 1500
-8.5%
-$5,678
$60,787
20
Honda Civic Hatchback
-8.8%
-$2,700
$28,006
Overall Average
-12.8%
-$5,778
$39,328
(Data sourced from iSeeCars)
Thanks to the popularity of SUVs and crossovers, the checklist is unsurprisingly dominated by these autos, together with vans. In reality, out of the 20 autos on this checklist, there are 13 SUVs, vans, and crossovers, with the remaining seven being numerous passenger automotive physique types.
This reinvigorated mannequin is probably the most highly effective hybrid sedan within the model’s lineup, providing loads of efficiency and luxury for the worth.
Why The Toyota Sequoia Hybrid Has Strong Resale Values
The Toyota Sequoia does not simply maintain its worth strongly after a 12 months, it is also the top full-size SUV when it comes to five-year depreciation according to iSeeCars. The Toyota Sequoia solely loses 38.7 % of its worth, which is close to the business common of 38.8 %, however is definitely the perfect within the full-size SUV phase.
Rank
Model
Average 5-Year Depreciation
1
Toyota Sequoia
38.7%
2
Mercedes-Benz G-Class
46.3%
3
Chevrolet Tahoe
47.0%
4
GMC Yukon
48.2%
5
Chevrolet Suburban
50.9%
Full-Size SUV Average
51.9%
(Data sourced from iSeeCars)
It’s A Rugged, Full-Size SUV That’s Also A Hybrid
Americans love SUVs and crossovers, extra so if it is a rugged body-on-frame full-size one. Car-based unibody crossovers are the modern-day MPV since these have road-biased dealing with and comparable (however not the identical) practicality because the boring folks carriers it changed, however these autos will not have the off-road functionality {that a} truck-based body-on-frame SUV can do.
If you will discover as properly, the SUV class within the checklist is subdivided into three segments: small, midsize, and full-size. Though there isn’t any small body-on-frame SUV within the United States, there’s a plethora of body-on-frame decisions within the midsize and full-size segments. Take a have a look at the checklist, and you may see that the SUVs in these two dimension lessons which have the least depreciation are body-on-frame rugged ones with a excessive diploma of off-road functionality. Finally, as talked about, as a result of this can be a hybrid, the Sequoia has all the right ingredients to be fascinating to its core buyer base.
And, Finally, It’s A Toyota
Do we have to state the opposite apparent purpose? Apart from having a essentially superior product, it additionally pays to have a model whose repute was constructed by way of years and years of belief and excessive ranges of dependability. Take a glance as soon as once more on the iSeeCars lists (any of their lists, actually) and there is one model that you’re going to see manner too many occasions. That is, after all, Toyota, whose model was identified for making vehicles that will not go away you stranded on the aspect of the highway.
But additionally core to the model’s repute that results in robust resale values is the brand-dealer-customer relationship. Dealers have a two-way relationship with the model, and due to this, it results in optimized seller operations, which then makes sellers in a position to present top-notch customer support.
Toyota has a relationship that transcends the whole auto business. From R&D to manufacturing to the dealership and eventually, the shoppers buying these autos, Toyota takes care of each technique of the automotive enterprise. More than simply having nice merchandise, a model can nonetheless fail if it does not construct a relationship with everybody within the meals chain, however with Toyota, they’ve mastered taking good care of its personal enterprise, in addition to the opposite companies and the folks that depend upon it.
Toyota has launched quite a few hybrid SUVs over time, Here’s how all of them stack up in opposition to one another by way of gas effectivity.
What It’s Like To Live With A Sequoia Hybrid
So you have been satisfied by our article to get a Toyota Sequoia Hybrid? That’s nice! Toyota, we wish our fee now. Just kidding, however anyway, the Sequoia Hybrid is all-new for the 2024 mannequin 12 months. Considering that the earlier Sequoia was round for 14 years, the technological and driving dynamics leap is undoubtedly going to be large. Thankfully, our crew has comprehensively reviewed the Sequoia Hybrid in range-topping Capstone trim, so you possibly can vouch for us in our opinions on what life is like with a brand new Sequoia Hybrid.
A Near-Lexus Experience…
By choosing this range-topping Capstone trim, the inside is as luxurious as a full-size SUV from a non-luxury model can get. In reality, in our opinion, it is nearly nearly as good as a Lexus for a way the premium supplies really feel and the general sheer scale and luxurious that the inside exudes. There’s additionally the elegant but imposing styling that is additionally matched by a well-designed and well-engineered iForce Max 3.5-liter twin-turbo V-6 parallel hybrid drivetrain.
Producing 437 horsepower and 583 pound-feet of torque, this electrified drivetrain sounds good while having a easy demeanor. The engine’s full of torque that is not simply sufficient to haul the Sequoia’s physique, but in addition pull as much as 9,000 kilos. Finally, by going hybrid, it is much more environment friendly than the V-8 it replaces. The earlier Sequoia in rear-wheel drive (RWD) has a 15 MPG mixed EPA-estimated gas financial system determine whereas including four-wheel drive (4WD) drops this to 14 MPG, however the brand new one does 22 MPG with RWD and 20 MPG with 4WD.
… That’s Spoiled By An Unsettled Ride
Unfortunately, spoiling that near-Lexus expertise is its trip high quality. Despite switching to a multi-link rear suspension, the trip is definitely harsher than the earlier Sequoia. Granted, body-on-frame SUVs will not be as comfortable as unibody crossovers SUVs, particularly with most of them having strong rear axles, however with the brand new physique and the extra refined suspension arrange, it is the one side that is spoiling the in any other case serene and stress-free driving expertise.
Finally, although this can be a rather more minor niggle, there isn’t any everlasting four-wheel drive choice out there. What you solely have is the standard 2H, 4H, and 4L settings together with a button for the locking differential, which is completely advantageous for many seasoned off-roaders. For those that need extra nuanced management relying on the terrain and even an computerized everlasting 4WD setting, different SUVs have this functionality.
Ultimately, although, the phase is shrinking, from nearly 30% of recent EVs in 2021, with gross sales of a couple of million to under 10% final yr, properly down from its six-figure document, in line with analysis from the Oxford Institute for Energy Studies.
Two elements are at work right here. One is that cities corresponding to Shanghai are blocking the smallest EVs from schemes to limit new licence plate allocation to EVs solely. Whether you’re 3m lengthy or 5m lengthy, you’re nonetheless visitors. The different is that a brand new class of 4m-long, four-door electrical superminis is increasing with costs nearly nearly as good.
The BYD Seagull, costing from the equal of £8100, leads the pack with 239,270 gross sales final yr, adopted by Wuling’s personal Bingo at 167,764 (costing from simply £6,000) and the well-regarded Leapmotor T03, which leads proprietor evaluations on the Autohome automotive gross sales portal above the Binguo.
“In China’s heart, we want to purchase big cars,” stated one senior govt on the Beijing present. “We only purchase small cars because of price, not a desire to own one.”
Indeed, a premium mini-EV, the Arcfox Lite, was shortly discontinued because of lack of buyer curiosity.
Around 2.2 million Smart clients have proven us that Europeans do have that need – and Smart below its new 50:50 possession by Geely and Mercedes-Benz is planning to return to the phase with a reborn Fortwo.
The Hyundai Venue was the one one within the section to get pleasure from month-on-month progress in gross sales which positioned it again forward of the Kia Sonet
In March 2024, the Maruti Brezza retained its prime spot within the gross sales tables and maintained its lead over the Tata Nexon. Although the section’s general month-on-month (MoM) gross sales decreased by almost 6 %, near 53,000 subcompact SUVs have been nonetheless offered within the nation final month. Here’s the detailed gross sales report of how every subcompact SUV carried out.
Sub-compact SUVs & crossovers
March 2024
February 2024
MoM Growth
Market share present(%)
Market share (% final 12 months)
YoY mkt share (%)
Average gross sales (6 months)
Maruti Brezza
14614
15765
-7.3
27.64
27.2
0.44
14726
Tata Nexon
14058
14395
-2.34
26.59
24.75
1.84
15665
Hyundai Venue
9614
8933
7.62
18.18
16.8
1.38
11019
Kia Sonet
8750
9102
-3.86
16.55
14.54
2.01
6425
Nissan Magnite
2701
2755
-1.96
5.1
5.46
-0.36
2542
Mahindra XUV300
2072
4218
-50.87
3.91
8.59
-4.68
4514
Renault Kiger
1050
1047
0.28
1.98
2.62
-0.64
847
Total
52859
56215
-5.96
Key Takeaways
With over 14,500 models retailed, the Maruti Brezza remained the best-selling subcompact SUV within the section, regardless of experiencing a lack of greater than 7 % in month-on-month (MoM) gross sales. The Brezza nonetheless maintains the very best market share of just about 28 % within the section.
Tata Nexon’s gross sales in March 2024 fell quick by over 500 models in comparison with the Maruti Brezza, thus sustaining its place because the second best-selling compact SUV within the section. Following the Brezza, the Nexon is the one subcompact SUV right here to surpass the ten,000-unit gross sales mark. Please word that these figures embody each Tata Nexon and Tata Nexon EV gross sales.
The Hyundai Venue, the third best-selling sub-4m SUV, attracted greater than 9,500 consumers in March 2024. It recorded a progress of almost 8 % in MoM gross sales, at the moment holding over 18 % of market share within the section. It’s vital to notice that the Venue’s tally right here combines the gross sales of each Hyundai Venue and Venue N Line.
Despite a decline of almost 8 % in month-to-month gross sales, Kia nonetheless dispatched over 8,500 models of the Sonet in March 2024. This determine is over 2,000 models increased than its common gross sales over the previous six months.
The Mahindra XUV300 took the most important hit of over 50 % in MoM gross sales, and it solely managed to cross the gross sales mark of two,000 models. The essential motive for this decline is that Mahindra is getting ready for the introduction of its facelifted model, the XUV 3XO.
The Renault Kiger was the least promoting subcompact SUV in March 2024 and it solely discovered over 1,000 consumers final month. However, its efficiency final month’s efficiency was higher than common gross sales of the final six months. Meanwhile, its mechanical sibling the Nissan Magnite loved over 2,700 unit gross sales for a similar month for a comparatively steady demand.
The phase’s month-to-month gross sales have gone up by over 10 %, with greater than 6,600 items bought in March 2024
It looks as if the compact sedan phase ended the monetary yr 2023-2024 on a constructive word as steered by March 2024 gross sales. The Volkswagen Virtus leads the gross sales chart, carefully adopted by the Hyundai Verna. Except the Honda City, nearly all compact sedans have proven constructive month-on-month (MoM) progress final month. Here’s a breakdown of how every sedan carried out in March 2024 gross sales.
Compact sedans
March 2024
February 2024
MoM Growth
Market share present(%)
Market share (% final yr)
YoY mkt share (%)
Average gross sales (6 months)
Volkswagen Virtus
1847
1631
13.24
27.87
17.71
10.16
1741
Hyundai Verna
1716
1680
2.14
25.89
37.12
-11.23
1865
Skoda Slavia
1358
1028
32.1
20.49
15.56
4.93
1584
Honda City
1116
1184
-5.74
16.84
26.62
-9.78
1318
Maruti Suzuki Ciaz
590
481
22.66
8.9
2.96
5.94
633
Total
6627
6004
10.37
99.99
Key Takeaways
With over 1,800 items bought, the Volkswagen Virtus was the best-selling compact sedan in March 2024. The Virtus recorded month-to-month gross sales progress of over 13 %, and it has almost 28 % market share within the phase.
The Hyundai Verna narrowly missed surpassing the Virtus’ gross sales by simply 131 items. Despite sustaining constant month-on-month gross sales with over 1,700 dispatches, its year-on-year (YoY) market share declined by greater than 11 %.
Skoda’s compact sedan, the Slavia, attracted greater than 1,300 patrons in March 2024. Despite registering the very best 32 % progress in month-on-month (MoM) gross sales, the Slavia’s gross sales final month had been nonetheless over 200 items lower than its common gross sales during the last six months.
The Honda City is the one compact sedan right here which took successful in month-to-month gross sales, nonetheless it nonetheless crossed the gross sales mark of 1,000 items. The City’s YoY market share additionally went down by almost 10 %. We suspect this drop in output was because of the change in variant-wise options that had been introduced in April 2024, and the Honda sedan ought to return to its ordinary gross sales output quickly.
The Maruti Ciaz, now thought-about a dated mannequin within the phase, emerged because the least promoting compact sedan in March 2024. Despite attracting lower than 600 patrons final month, its month-to-month gross sales elevated by over 100 items.
Toyota Motor North America is a new-car firm. So why ought to it care in regards to the gross sales of used vehicles?
Because, once you delve into the main points, you quickly uncover that these two sectors of the retail automotive enterprise are inextricably linked—to the good thing about Toyota, its sellers, and their prospects.
That’s why Toyota has lengthy supported and promoted a strong licensed used program. And it’s why Toyota not too long ago expanded that program to incorporate autos as much as 10 mannequin years previous with between 60,000-125,000 miles on their odometers.
Silver Certified goes past the present Gold Certified eligibility parameters of as much as six mannequin years and 85,000 miles. The transfer might assist increase Toyota Certified’s present gross sales of greater than 370,000 autos per yr.
“That’s a lot,” mentioned Ron Cooney, Toyota Certified Used Vehicles (TCUV) gross sales operations supervisor. “Based on Motor Intelligence’s evaluation, if Toyota Certified was a brand new automobile model, it will be ranked 13 th out of the 48 makes available in the market.
“But it’s also small when you step back and look at the bigger picture. According to figures compiled by Edmunds, some 6 million used Toyotas are sold every year. Yet our year-end financial statement shows that our dealers only sold 790,540 in 2023. So, there is a tremendous opportunity for growth here.”
In some methods, Toyota’s stellar status for high quality, sturdiness and reliability works in opposition to it on this entrance. Customers know that nearly any well-maintained Toyota is an effective wager when shopping for used, whether or not it’s being bought by an unbiased vendor or personal occasion. But now, with Silver Certified, there much more motive buy a used Toyota from a Toyota vendor.
Why? Three phrases: peace of thoughts. A Silver Certified Toyota comes with:
A restricted powertrain guarantee for 12 months/12,000 miles
24-hour roadside help for 12 months/12,000 miles
A 136-point minimal high quality assurance inspection
A free CARFAX® Vehicle History Report
The choice of together with a trade-in to facilitate the transaction
The choice of financing the deal by way of Toyota Financial Services
Trouble-free dealing with of the transaction, together with DMV paperwork
The choice of financing the deal by way of Toyota Financial Services
Trouble-free dealing with of the transaction, together with DMV paperwork
Further, the powertrain guarantee and roadside help are transferable to the subsequent proprietor for free of charge if the automobile is resold earlier than the 12 month/12,000 mile expiration, thus boosting its resale worth. And the guarantee is honored at over 1,400 Toyota sellers within the continental U.S. and Canada.
“We’re not the first automaker to certify its older vehicles, but we studied what our competitors were offering and made sure we got it right,” Cooney mentioned. “Some of them limit the warranty to three months. Others only offer it on some vehicles. Some don’t include CARFAX. It can get very confusing for the customer. We made sure our vehicles were covered for a full year, which is a big selling point to customers who aren’t used to getting any kind of warranty on an older/higher-mileage vehicle unless they pay extra for it.”
Cooney mentioned Toyota’s sellers are supportive of this new stage of certification. Because of it, they’re extra possible to absorb an older Toyota in commerce. That issues when you think about that the majority new-car gross sales contain some form of trade-in automobile. Also, primarily based on preliminary suggestions from sellers, Cooney mentioned they’re promoting Silver Certified Toyotas quicker than non-certified used autos—contributing to their backside line.
“I can see used Toyotas sitting in a dealer’s inventory for 30 or 60 days,” Cooney mentioned. “Then we launched Silver Certified. And the dealers who have taken advantage of this program have sold those cars more quickly.”
Meanwhile, if these prospects do want repairs below guarantee, they’re much extra more likely to convey their autos again to their Toyota sellers. That generates even increased model loyalty.
The internet impact is that the TCUV program helps increase automobile resale values (a key metric on the subject of Toyota’s leasing enterprise) and—maybe most significantly—proprietor retention.
“We want to sell each of our vehicles at least four times: new, Gold Certified, Silver Certified and used,” Cooney mentioned. “We want to keep that car, and the customer, in our family for as long as possible. Ultimately, that’s what this is all about.”
PEUGEOT has elevated its automobile and van gross sales volumes by 32% year-on-year, with market share additionally rising by +0.8% to an general 4.4%, based on the most recent new car registration figures revealed in the present day by the Society of Motor Manufacturers and Traders (SMMT).
Strong gross sales efficiency in March contributed to a profitable first quarter for PEUGEOT, with 15,852 autos offered for the month, leading to its mixed automobile and van market share climbing by +0.7% to an general 4.3%, when in comparison with 2023. This improve sees PEUGEOT ranked as one of many prime three UK manufacturers for market progress. The model’s share of the electrical car market additionally elevated considerably from 3.9% to 4.9%, whereas its year-to-date EV market share has risen to 4.4%.
New E-208 is the UK’s best-selling small electrical automobile
PEUGEOT has grown its share of the passenger automobile market in March by +0.7% to an general 3.8%, whereas year-to-date it has recorded an excellent bigger rise of +0.9% to a complete of three.9%. This represents 21,271 registrations thus far this yr, up 42% from the identical level in 2023. The new PEUGEOT E-208 additionally tops its phase because the UK’s best-selling small electrical automobile.
PEUGEOT leads the electrical van market
PEUGEOT is the UK’s best-selling electrical van (e-LCV) producer each for March and year-to-date, with the brand new E-EXPERT a key contributor because the UK’s hottest electrical van. In March, the model’s share of the electrical van market greater than doubled from 11.7% to 26.6%. So far in 2024, one in 5 new electrical vans registered within the UK has been a PEUGEOT (20.2%).
In the general van market, PEUGEOT’s market share in March elevated by greater than half a share level to 7.3%, whereas its year-to-date market share additionally elevated to six.9%. PEUGEOT has offered 6,661 vans thus far in 2024, representing a year-on-year improve of 9.3%.
From 2025, restricted manufacturing of the brand new E-EXPERT can be manufactured at Luton, alongside continued manufacturing of the combustion van. The new PEUGEOT E-PARTNER is manufactured at Ellesmere Port, the UK’s first EV-only quantity manufacturing plant. PEUGEOT, alongside its sister Stellantis manufacturers, is the one model to fabricate quantity gentle business autos within the UK.
Adam Wood, Managing Director, PEUGEOT UK, mentioned: “We’ve achieved a great result at the end of the first quarter of 2024, along with the E-208 continuing to top the small electric car market and our new electric van range leading the UK’s e-LCV market. With our share of the overall EV market also increasing, this demonstrates the strength and depth of our electric line-up, which already offers customers the widest choice of any mainstream European brand.”
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