- The overall passenger vehicle sales declined in September 2024, the third consecutive month to record a decline.
- After a close battle in August, Mahindra and Mahindra has taken the third spot from Tata Motors.
- Honda has recorded the highest year-on-year decline in sales.
The Indian passenger vehicles segment reported a decline in sales for the third consecutive month in September 2024, amid reports of rising inventory at dealerships. To address the issue, Car makers have started to reduce dispatches to dealerships.
The total domestic PV sales slipped to 3,58,886 vehicles in September 2024, down from 3,62,876 vehicles in September 2023, registering a 1.1% year-on-year decline.
Automakers report a decline
Maruti Suzuki, the country’s biggest automaker took a hit in September 2024, with 1,44,962 cars sold, down from 1,50,812 cars sold in September 2023, recording a 3.88% year-on-year decline in sales.
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The Indian passenger vehicles segment reported a decline in sales for the third consecutive month in September 2024, amid reports of rising inventory at dealerships. To address the issue, Car makers have started to reduce dispatches to dealerships.
The total domestic PV sales slipped to 3,58,886 vehicles in September 2024, down from 3,62,876 vehicles in September 2023, registering a 1.1% year-on-year decline.
Automakers report a decline
Maruti Suzuki, the country’s biggest automaker took a hit in September 2024, with 1,44,962 cars sold, down from 1,50,812 cars sold in September 2023, recording a 3.88% year-on-year decline in sales.
Despite the decline in sales, Maruti Suzuki continues to enjoy a lion’s share in the Indian auto segment, with a 40% market share.
Hyundai is next with 51,101 cars sold during September 2024, down from 54,241 cars sold in September 2023, recording a 5.79% year-on-year decline in sales.
Mahindra and Mahindra overtakes Tata Motors
After emerging as a close fourth in August, Mahindra and Mahindra has managed to overtake Tata Motors in September 2024. The company received a boost in sales in September 2024, with 51,062 cars sold, up from 41,267 cars sold in September 2023, recording a 23.74% year-on-year growth.
Tata Motors sold 41,065 vehicles in September 2024, down from 44,850 vehicles sold in September 2023, recording an 8.44% decline in sales.
Toyota takes the fifth spot with 23,802 cars sold in September 2024, up from 22,168 cars sold in September 2023, recording a 7.37% growth.
Kia India is next with 23,523 cars sold in September 2024, up from 20,022 cars sold in September 2023, recording a 17.49% increase in sales.
Honda recorded the biggest decline, with 5,675 cars sold in September 2024, down from 9,861 cars sold in September 2023, registering a 42.45% year-on-year decline in sales.
MG Motor recorded an 8.3% decline in sales, with 4,588 cars sold in September 2024, down from 5,003 cars sold in September 2023.
