Auto sales figures for March 2024 and FY24 have been released, showing significant growth across various companies. Maruti Suzuki continues to lead the market, while Hyundai has regained the second spot.
Maruti Suzuki Maintains Leadership
Maruti Suzuki, India’s largest carmaker, retained its position at the top by selling 1,52,718 passenger vehicles in March 2024, marking a 15% year-on-year growth from March 2023. For FY24, the company sold 17,59,881 vehicles, recording a 9.5% growth from the previous fiscal year. Sales of compact vehicles like the Brezza, Ertiga, Fronx, and Grand Vitara have particularly contributed to Maruti Suzuki’s strong performance, experiencing a 75% boost during the year.
Hyundai’s Record-Breaking Sales
Hyundai secured the second spot in the Indian car market for March 2024, with domestic sales reaching 53,001 vehicles, up by 5% compared to March 2023. Export numbers also saw an increase of 16%, rising from 10,900 in March 2023 to 12,600 in March 2024. For FY24, Hyundai reported record sales of 7,77,876 vehicles, marking an 8% growth from the previous fiscal year. This figure includes exports of 1,63,515 vehicles, demonstrating Hyundai’s strong performance both domestically and internationally.
Tata Motors Holds Third Position
Tata Motors secured the third position with sales of 50,297 vehicles in March 2024, representing a 14% year-on-year growth. In FY24, the company sold 5,73,495 vehicles, marking a 6% growth compared to FY23. However, commercial sales for Tata Motors witnessed a slight decline, with FY24 numbers totaling 3,78,060 vehicles, down 4% from FY23.
Mahindra Reports Growth, MG Motor Declines
Mahindra and Mahindra experienced growth in domestic dispatches, selling 40,631 vehicles in March 2024, up by 13% from March 2023. For FY24, the company sold 4,59,877 vehicles, recording a significant growth of 28% compared to FY23. In contrast, MG Motor reported a decline in sales, with numbers dropping from 6,051 vehicles in March 2023 to 4,648 vehicles in March 2024.
