Maruti Suzuki Sales Dip in August 2024: 4% YoY Decline Recorded
Maruti Suzuki and Tata Motors Record Mixed Sales Performance in August 2024
Maruti Suzuki’s Sales Dip in August 2024
In August 2024, Maruti Suzuki reported the sale of 181,782 vehicles, marking a 4% decline compared to August 2023, when 189,082 units were sold. Specifically, in the passenger vehicle segment, the company sold 143,075 vehicles, an 8% decrease from the 156,114 vehicles sold the previous year. This decline follows a recent 3% price hike across several automakers in the country.
Tata Motors Sees 8% Drop in August Sales
Tata Motors also experienced a dip in sales, with a total of 71,693 vehicles sold in August 2024, reflecting an 8% decline from the 78,010 units sold in August 2023. In the domestic market, Tata Motors sold 70,006 vehicles, while exports accounted for 1,687 units. The commercial vehicle segment saw a notable 16% drop in domestic sales, with 25,864 vehicles sold compared to last year.
Hyundai Motors Plans to Launch Alcazar Model
Hyundai Motors India Limited (HMIL) saw an 8% increase in sales, selling 49,525 vehicles in August 2024, compared to 53,830 units in the same month last year. According to Tarun Garg, the company’s Director of Sales and Marketing, models like Creta, Venue, and Exter contributed significantly, accounting for 66.8% of total sales. Hyundai is also gearing up to launch the Alcazar model soon.
Mahindra & Mahindra and Toyota Kirloskar Report Growth
Mahindra & Mahindra recorded a 16% growth in sales, with 43,277 passenger vehicles sold in August 2024, up from 37,270 in August 2023. Vijay Nakra, President of the Automotive Division at M&M Limited, highlighted that the company is focusing on making the Thar franchise the number one SUV franchise by volume in the next 3 to 5 years.
Toyota Kirloskar Motor (TKM) reported a 35% increase in sales, with 30,879 vehicles sold. The company’s Vice President, Subari Manohar, noted that the SUV and MPV segments are driving the majority of sales, and this trend is not limited to major cities but extends to Tier-2 and Tier-3 markets as well.
