The year 2024 started positively for all the major OEMs as they posed a healthy rise in sales.The trend is anticipated to continue in the coming months as the demand rises. Here's a quick breakdown of the sales analysis of India's leading auto manufacturers for January 2024.
1) Maruti Suzuki
India's largest car maker has registered the highest-ever sales number in its history. The brand managed total sales of 199,364 units, out of which 1,70,214 units account for domestic sales. The sales of the SUV segment have gone marginally up, wherein Brezza, Ertiga, Fronx, Grand Vitara, S-cross and XL6 combined account for a total of 62,038 units. However, the combined sales of - Alto, S-Presso, Baleno, Celerio, Dzire, Ignis, Swift, Tour S, and WagonR are around 92,382 units. The growth is driven by premium SUVs, as compared to entry-level cars, which used to rule the market a few years back.
2) Hyundai Motors
The South Korean auto major has reported around 14 percent of positive YoY growth, with a total of 57,115 units sold compared to 50,106 units in Jan 2023. Hyundai Creta, is anticipated to amplify sales for the brand, as the brand expects high-volume sales in this segment.
The Indian homegrown brand has seen quite a turnaround in recent years with its new-age cars. For January, they reported total sales of 54,033 passenger vehicles, registering a growth of 12 percent. Tata Motors' highest-selling SUV, Nexon, also got a major facelift; its EV derivative got substantial changes, too. Tata is expected to grow multifold with the new-age EVs hitting our shores in 2024 or later in 2025. Tata Motors has also launched a facelifted Safari and Harrier. To read more about them, click here. Tata has also announced a strategic collaboration with JLR group; to read more about that, click here.
4) Mahindra and Mahindra
M&M has encountered tremendous growth, registering 31 per cent YoY growth with total sales of 43,068 units in Jan 2024 compared to 32,915 units sold in Jan 2023. Mahindra has also shown the Thar EV and pickup concept based on Scorpio-N, thus exhibiting their potential to tap into multiple market segments. Mahindra will also launch a 5-door Thar this year.
5) Honda India
Honda Cars India registered monthly domestic sales of 8,681 units in Jan 2024. Honda made a strong comeback in the Indian market with its Creta-rival SUV - Elevate, bringing much-needed sales momentum.
7) Toyota Kirloskar Motor
Toyota has recently upped its game in the Indian market, resulting in 92 per cent YoY growth with a total of 23,197 units sold in Jan 2024. Toyota also launched a Maruti Ertiga-based MPV called Rumion at Rs 10.29 lakh. Badge-engineering products also help Toyota scale up its sales numbers.