Maruti Suzuki sales dropped by 10% whereas Toyota sales jumped over 44%.
The car sales report for July 2024 reveals a mixed performance among India’s top automakers. Combined wholesales of the top seven passenger vehicle manufacturers were down 1 percent year-on-year at 3,11,553 units. The top three manufacturers—Maruti Suzuki, Hyundai, and Tata Motors—registered declines. Four out of the seven carmakers saw a year-on-year decline in sales. This decline can be attributed to high inventory levels and low customer inquiries, as highlighted by FADA president Manish Raj Singhania.
Key Highlights:
- Combined wholesales for July 2024 down 1% YoY at 3,11,553 units.
- Maruti Suzuki sees a 10% decline in sales with 1,37,463 units.
- Hyundai’s sales dip by 3% YoY, totaling 49,013 units.
- Tata Motors records a 6% drop in PV sales and a 21% decline in EV sales.
- Mahindra and Toyota buck the trend with increases of 15% and 44%, respectively.
Car Sales Report for July 2024: Overview
| Manufacturer | July 2024 Sales | YoY % |
|---|---|---|
| Maruti Suzuki | 1,37,463 units | -10 % |
| Hyundai | 49,013 units | -3 % |
| Tata Motors | 44,725 units | -6% |
| Honda Cars India | 4,624 units | -5% |
| Mahindra | 41,623 units | 15% |
| Toyota | 29,533 units | 44% |
Maruti Suzuki
Maruti Suzuki reported a 10% decline in sales, with 1,37,463 units sold in July 2024. The decline was observed across most segments, including hatchbacks and sedans. However, entry-level models like Alto and S Presso showed a slight YoY increase of 4%, aided by price cuts.
Hyundai
Hyundai’s sales decreased by 3% YoY to 49,013 units. The new Creta remains a strong performer, accounting for 35% of total sales. The Venue and Exter SUVs also contributed significantly, though specific numbers were not disclosed.
Tata Motors
Tata Motors saw a 6% decline in overall PV sales and a significant 21% drop in EV sales, totaling 44,725 units. The company is seeing growing demand for its CNG models, offering a diverse range of powertrains.
Mahindra
Mahindra registered a 15% increase in sales, with 41,623 units sold. The company’s strong lineup of SUVs, including the XUV700 and Scorpio models, continues to drive growth. As of August 2, Mahindra had open bookings for 2,20,000 units.
Toyota
Toyota experienced a 44% YoY increase, selling 29,533 units. The company’s growth is attributed to strong demand for its MPVs and SUVs and ramped-up production. Toyota’s recent initiatives, including a new manufacturing facility, signal continued growth.
Honda Cars India
Honda saw a 5% decline in sales, with 4,624 units sold in July. The company’s export numbers surpassed domestic sales, with 20,719 units exported in the first four months of FY2024.
Also Read:
Maruti Suzuki production July 2024: A Decline Amid Diverse Segment Performance
