The major OEMs enjoyed a strong start to 2024, with a notable surge in sales. This trend is set to persist as demand for their products continues to escalate in the months ahead. Here's a quick breakdown of the sales analysis of India's leading auto manufacturers for February 2024.
1) Maruti Suzuki
In February, India's biggest car manufacturer sold a total of 1,60,271 units, with a YoY growth of 8.68 per cent. 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 61,234 units. However, the combined sales of - Alto, S-Presso, Baleno, Celerio, Dzire, Ignis, Swift, Tour S, and WagonR are around 86,409 units. The growth is driven by premium SUVs, as compared to entry-level cars, which used to rule the market a few years back. The brand has made total export sales of 28,927 units.
2) Hyundai Motors
The South Korean auto major has reported around 6.9 percent of positive YoY growth, with a total of 50,215 units sold compared to 46,968 units in Feb 23. Hyundai Creta, is anticipated to amplify sales for the brand, as the brand expects high-volume sales in this segment.
3)Tata Motors
The Indian homegrown brand has seen quite a turnaround in recent years with its new-age cars. For Feb, they reported total sales of 51,270 passenger vehicles, registering a growth of 19 percent. Tata is expected to grow multifold with the new-age EVs hitting our shores in 2024 or later in 2025.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 40 per cent YoY growth with total sales of 42,401 units in Feb 2024 compared to 30,221 units sold in Feb 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 by the second half of this year.
5) Honda India
Honda Cars India registered monthly domestic sales of 7,142 units in Feb 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 52.62 per cent YoY growth with a total of 23,300 units sold in Feb 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.
8) MG Motors
MG Motors India recorded total sales of 4,532 units in February, an 8 percent growth. MG is expected to update Gloster, Astor and ZS EV this year.
