Maruti Grand Vitara emerged as the new frontrunner in the compact SUV segment market in January 2024, recording a 55% YoY growth as compared to the same month last year
The highly competitive and rapidly growing compact SUV segment has seen both a YoY and MoM growth in sales in January 2024. The segment was led by the Maruti Grand Vitara and Hyundai Creta both of which commanded a combined market share of 57 percent. Compact SUV sales in January 2024 grew by 9.20 percent YoY to 46,724 units, up from 42,789 units sold in January 2023. This was a 3,935 unit volume growth. MoM sales also improved by 12.21 percent form 41,641 units relating to a volume growth of 5,083 units.
Compact SUV Sales January 2024
Maruti Suzuki has reported its highest ever monthly sales in January 2024 with a total of 199,364 units sold bolstered by sales in the compact SUV segment. Sales of the Grand Vitara in the past month stood at 13,438 units, up 55.14 percent from 8,662 units sold in January 2023 to command a 28.76 percent share in this segment. MoM sales also improved by a massive 92.30 percent from 6,988 units sold in December 2023.
At No. 2 was the Hyundai Creta which has posted a YoY decline in sales by 12.14 percent to 13,212 units, down from 15,037 units sold in January 2023. MoM sales grew by 42.94 percent over 9,243 units sold in December 2023. Hyundai had launched the updated Creta recently. It comes with overall improvement both in its exterior and interior makeup while safety will also be enhanced by Hyundai SmartSense – Level 2 ADAS features. Creta is likely to retake No 1 position in the segment in the coming months.
Kia Seltos, which was the No. 1 compact SUV in December 2023, lost its position and was relegated to No.3 in January 2024 with YoY and MoM decline in sales. Sales dipped to 6,391 units last month down 38.96 percent over 10,470 units sold in January 2023 while MoM sales slipped 35.81 percent over 9,957 units sold in December 2023. Earlier this month, the Seltos reached a milestone of 1 lakh + bookings making it the company’s bestselling model.
Increased sales were reported for the Toyota HyRyder, which stood at 5,543 units in January 2024. This was a 32.16 percent YoY growth from 4,194 units sold in January 2023. MoM sales also improved by 11.39 percent over 4,976 units sold in December 2023. Honda Elevate was at No. 5 with 4,586 units sold in January 2024. This was a 4.80 percent MoM growth from 4,376 units sold in December 2023.
VW Taigun, Skoda Kushaq Sales Dip YoY and MoM
Lower sales were seen for both the Volkswagen Taigun and Skoda Kushaq in January 2024. VW Taigun sales dipped 12.37 percent YoY and as much as 48.09 percent on a MoM basis to 1,275 units in January 2024. There had been 1,455 units and 2,456 units sold in January 2023 and December 2023 respectively. These lower sales took market share down to 2.73 percent in the past month from 5.90 percent held in December 2023.
There was also a significant dip in sales for the Skoda Kushaq which fell 46.25 percent YoY and 56.46 percent MoM to 1,082 units in January 2024. There had been 2,013 units sold in January 2023 while sales in December 2023 had been at 2,485 units.
At Nos. 8 and 9 were the MG Astor and Citroen C3 Aircross. MG Astor sales marginally improved YoY by 0.8 4 percent to 966 units from 958 units sold in January 2023 while MoM sales saw growth of 17.66 percent over 821 units sold in December 2023. Citroen C3 Aircross on the other hand, launched in October 2023, saw its sales dip 31.86 percent MoM to 231 units from 339 units sold in December 2023.
