Of the 16 hatchbacks on sale in India, 7 are from Maruti Suzuki – Which have a combined market share of over 71%
After taking a look at the Sedan Sales Feb 2024 and SUV Sales Feb 2024, let us now take a look at the Hatchback Sales Feb 2024. In February 2024, the hatchback segment in India experienced a mixed bag of performances as several key models witnessed fluctuations in sales figures compared to the same period last year. Total hatchback sales for February 2024 stood at 98,788 units, marking a notable decline of 18.77% compared to February 2023, which recorded 1,21,614 units sold.
Hatchback Sales Feb 2024 vs Feb 2023 – YoY comparison
Maruti Suzuki, the leading automaker in India, maintained its dominance in the hatchback segment, with four of its models securing the top positions in terms of sales volume. The Maruti WagonR emerged as the best-selling hatchback for the month, with sales totaling 19,412 units, exhibiting a substantial growth of 14.94% compared to the same period last year. The Maruti Baleno and Maruti Swift, however, experienced declines of 5.78% and 28.50% respectively.
The Maruti Swift, traditionally one of the top-selling hatchbacks, faced a significant drop in sales, with only 13,165 units sold in February 2024 compared to 18,412 units in February 2023. Similarly, the Maruti Alto, another popular model, witnessed a decline of 35.28% in sales volume. Hyundai Motor India Limited also saw mixed performances with its hatchback offerings. While the Hyundai i20 experienced a considerable decline of 44.75% in sales, the Hyundai i10 NIOS faced an even steeper decline of 48.66% compared to February 2023.
Tata Motors, on the other hand, showcased a positive trend with its hatchback models. The Tata Altroz recorded a growth of 15.50%, with sales reaching 4,568 units in February 2024. However, the Tata Tiago, including its electric variant, witnessed a marginal decline of 6.84%. Among other manufacturers, Toyota Glanza showed a modest growth of 8.48%, whereas Renault Kwid and Maruti Ignis experienced significant declines of 52.90% and 55.57% respectively. Notably, the MG Comet EV made recorded 920 units sold in February 2024.
Hatchback Sales Feb 2024 vs Jan 2024 – MoM comparison
Hatchback sales February 2024 stood at 98,788 units, marking a 7.24% decrease from January 2024, which recorded 1,06,493 units sold. Maruti WagonR, experiencing a growth of 9.33% month-on-month (MoM) with 19,412 units sold in February 2024. However, the Maruti Baleno witnessed a decline of 10.76% MoM, with 17,517 units sold during the same period. Other Maruti models like the Swift and Alto also faced declines in sales volume, indicating shifting consumer preferences and market trends. The Swift recorded 13,165 units sold in February, marking a decrease of 14.35% MoM, while the Alto experienced a 5.42% decline with 11,723 units sold.
Tata Motors showcased a mixed performance with its hatchback offerings. While the Tiago, including its electric variant, witnessed a growth of 7.17% MoM with 6,947 units sold, the Altroz experienced a decline of 7.44% MoM, recording 4,568 units sold in February 2024. Hyundai Motor India Limited also saw declines in sales volume for its hatchback models, including the i20 and i10 NIOS, which experienced decreases of 27.56% and 27.94% MoM respectively.
However, some models managed to buck the trend and showed growth in sales compared to January 2024. The Toyota Glanza recorded a significant growth of 22.49% MoM with 4,581 units sold in February. Additionally, the MG Comet EV made its mark with 920 units sold, showing an impressive growth of 82.18% MoM.
While the overall hatchback segment faced challenges in February 2024, characterized by declining sales figures, certain models managed to sustain growth or make noteworthy debuts, indicating ongoing shifts in consumer preferences and market dynamics. Industry analysts suggest that factors such as rising fuel prices, inflation, and the emergence of electric vehicles could be influencing consumer behaviour, impacting the sales trajectory of hatchback models in the country. As automakers continue to adapt to evolving market conditions, the hatchback segment is expected to witness further transformations in the coming months.
