Top 4 SUVs in this segment (Hyundai / Kia and Suzuki / Toyota) command a near 85% market share with over 41,500 sales
After taking a look at the sub 4m or the sub-compact SUV sales (Nexon, Brezza, etc) for March 2024, we now discuss sales performance of SUVs in the Compact segment. These SUVs are in the 4.2 meter to 4.4 meter length category. In March 2024, the compact SUV segment in India witnessed a remarkable surge in sales, with Hyundai Creta leading the pack. The segment saw a total of 49,210 units sold, marking a significant 24.65% increase compared to the same period last year.
Compact SUV Sales March 2024 vs March 2023 – YoY Performance
Topping the charts was the Hyundai Creta, with sales totalling 16,458 units in March 2024. This impressive figure reflects a 17.34% growth compared to March 2023, showcasing that the new Creta is performing even better than the earlier version. Hyundai recently announced that the 2024 Creta has recorded 1 lakh bookings milestone in 3 months of launch.
In second place, the Maruti Grand Vitara maintained its stronghold in the market, with sales reaching 11,232 units. Despite facing stiff competition from Korean twins (Creta / Seltos), the Grand Vitara recorded a commendable 11.82% growth year-on-year, affirming its appeal among Indian consumers. Next up is Seltos, which has registered sales of 7,912 units in March 2024. This is a 21% growth year on year.
Grand Vitara’s cousin, Toyota HyRyder experienced an impressive 71.70% increase compared to the previous year, with 5,965 units sold. Honda Elevate, although launched recently, garnered significant attention, selling 3,277 units within the month. Volkswagen Taigun and Skoda Kushaq witnessed declines in sales, with 1,588 and 1,293 units sold, respectively. MG Astor sales were at 1,274 units with 11% growth while recently launched C3 Aircross managed to sell 211 units.
Compact SUV Sales March 2024 vs Feb 2024 – MoM Performance
When taking a look at month on month performance, the segment registered a a 9.56% rise from February 2024. Interestingly, all SUVs posted a growth month on month. Hyundai Creta registered a marginal 7.74% increase from February, while Grand Vitara growth rate was moderate at 2.09%.
However, Kia Seltos registered a substantial 26.29% growth MoM. This surge in demand underscores the Seltos’ popularity among Indian consumers seeking a blend of style, performance, and value. Toyota HyRyder represents a commendable 6.50% increase from February, signalling growing acceptance of the model among consumers.
Honda Elevate MoM growth rate was modest at 2.92%, the Elevate’s unique features and competitive pricing contributed to its popularity among buyers. Kushaq (14%) and Taigun (23%) sales also increased MoM. MG Astor saw a healthy growth rate of 22.97%, the C3 Aircross registered a growth rate of 66.14%.
The surge in compact SUV sales in March 2024 underscores the segment’s resilience and potential for sustained growth in the Indian automotive market. As competition intensifies, manufacturers continue to innovate and adapt, ensuring a dynamic landscape for consumers seeking versatile and stylish SUV options.
