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- The Indian passenger vehicles segment has recorded decent growth in March 2024.
Maruti Suzuki continues to lead the passenger vehicle segment withHyundai at the second spot.- Hyundai has beaten
Tata Motors to reclaim the second spot in the Indian car industry.
The auto sales numbers for March 2024 and FY24 have started pouring in, with companies recording decent growth across the board. Maruti Suzuki has once again emerged as the market leader, with Hyundai taking the second spot.
Hyundai lost the second position to Indian automaker Tata Motors in February 2024 after it sold around a thousand vehicles less than the latter. The company has now reclaimed the second position and reported a new high for its yearly sales.
India’s largest car maker Maruti Suzuki retained the top spot reporting sales of 1,52,718 passenger vehicles in March 2024, up from 1,32,763 cars sold in March 2023, registering a 15% year-on-year growth.
Coming to the company’s sales during FY24, the Indian automaker sold 17,59,881 vehicles during the year, up from 16,06,870 vehicles sold in FY23, recording a 9.5% growth.
The company’s sales have been boosted the sale of compact vehicles such as the Brezza, Ertiga, Fronx, Grand Vitara and more, which have received a 75% boost during the year.
Hyundai has emerged as the second biggest player in the Indian car market in March 2024 with domestic sales of 53,001 vehicles in March 2024, up from 50,600 vehicles sold in March 2023, recording a growth of around 5%.
The company’s exports reported a growth of 16% from 10,900 in March 2023 to 12,600 in March 2024.
The company reported record sales during FY24 at 7,77,876 vehicles, up from 7,20,565 vehicles sold in FY23, registering a growth of 8%. This includes an export of 1,63,515 vehicles in FY24 and 1,53,019 vehicles in FY23.
Tata Motors came in third with sales of 50,297 vehicles in March 2024, up from 44,225 vehicles in March 2023, registering a 14% growth year-on-year.
Coming to its annual sales, the company sold 5,73,495 vehicles in FY24, up from 5,41,087 vehicles in FY23, registering a 6% growth.
The company’s commercial sales during FY24 were 3,78,060 in FY24, down 4% from 3,93,317 vehicles sold in FY23.
Mahindra reports growth while MG declines
Mahindra and Mahindra reported a growth in domestic dispatches from 35,997 vehicles in March 2023 to 40,631 vehicles in March 2024, registering a growth of 13%.
During FY24, the company sold 4,59,877 vehicles, up from 3,59,253 vehicles sold in FY23, recording a growth of 28%.
On the other hand, MG Motor reported a decline in its sales. The company sold 4,648 vehicles in March 2024, down from 6,051 in March 2023.
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