Top 6 car makers registered sales of 3.31 lakh (93.47% market share) in Aug 2024, while the bottom 8 car brands sold only 23,136 (6.53% market share) in total
The month of August 2024 showed off a lull across the PV segment. Heavy rains across the country, flooding in key markets of Gujarat and Kerala, and a lower buyer sentiment resulted in lower showroom footfalls and rising inventories at company dealerships. Car sales in the past month dipped to 3,54,267 units, down from 3,60,230 units sold in August 2023. This was a 1.7% YoY decline. MoM sales however, showed off a 3.3% improvement over 3,43,026 units sold in July 2024.
Car Sales August 2024 – YoY Vs MoM
Despite a YoY decline in sales, Maruti Suzuki once again commanded this list by a hefty margin. Sales stood at 1,43,075 units in August 2024, down from 1,56,114 units sold in August 2023. MoM sales on the other hand saw a growth of 4.1% when compared to 1,37,463 units sold in July 2204. Market share of the company fell by 3% to 40.4% over 43.3% YoY.
Hyundai and Tata Motors continue to battle for the coveted No. 2 spot, with Hyundai taking the lead by 5,383 units. Hyundai with 49,525 unit sales last month saw an 8% decline from 53,830 units sold in the same month last year. MoM sales remained flat with 49,013 units sold in July 2024. Creta, Venue and Exter continued to remain key growth drivers for the company while the company recently expanded the Creta lineup to also include the Knight Edition with an all-black colour scheme.
Suffering both a YoY and MoM decline in sales was Tata Motors. Sales dipped 3% YoY and 1.3% MoM to 44,142 units. There had been 45,515 units and 44,727 units sold in August 2023 and July 2024 respectively.
Bucking the trend of lower YoY demand seen by the top 3 automakers, Mahindra and Toyota ended August 2024 with outstanding sales. Mahindra sales were up 16.1% YoY and 4% MoM to 43,277 units taking up market share to 12.2%. Mahindra is getting close to overtaking Tata Motors for the No 3 spot. Toyota too saw a 36.3% improvement in YoY sales to 28,589 units over 20,970 units sold in August 2023, however suffered a MoM decline by 3.2% when compared to 29,533 units sold in July 2024. Market share improved dramatically by 2.2% to 8.1% share in the past month.
Kia at No.6 also showed a YoY and MoM improvement in sales by 17.2% and 9.8% respectively to 22,523 units. The 2024 Kia Sonet Facelift has played a major role in these improved sales. The company recently added 2024 Kia Gravity Editions for the Sonet, Carens and Seltos and now gears up to expand their portfolio with the new Carnival and EV9.
Sales of Honda dipped by 32.4% YoY to 5,326 units in August 2024 from 7,880 units sold in August 2023. MoM sales however saw a 15.2% improvement over 4,624 units sold in July 2024. The MG Motor lineup has been well received and is set to get even more exciting with the new Windsor CUV in the sidelines. Sales were up 9.2% YoY to 4,571 units in the past month over 4,185 units sold in August 2023 while MoM sales remained flat. MG Motor currently commands a 1.3% market share.
VW, Renault, Skoda, Nissan
Lower down the sales list was VW (3,577 units), Renault (3,018 units), Skoda (2,772 units) and Nissan (2,257 units), each of which have posted YoY decline in sales. However, their MoM performance ended more positively. Sales of Citroen were up 121.4% to 1,257 units, showing off the highest YoY growth as compared to any other automaker on this list. MoM sales also zoomed 280.6%. Jeep sales also improved by 13.7% YoY and 23.2% MoM to 340 units.
