In September 2024, Indian automobile manufacturers disclosed their respective sales figures, revealing a continued trend of underwhelming performance across the sector. Major players such as Hyundai and Tata Motors reported declines in sales, while Maruti Suzuki managed to achieve growth, thanks to robust export numbers and increased sales to other OEMs. Conversely, Mahindra and Toyota maintained their growth trajectories, showcasing resilience in a challenging market. Let’s delve into the specifics of each brand’s performance.
Hyundai announced a total sales volume of 64,201 units for September 2024, marking a decrease of 10.38 percent compared to the same month the previous year. Within this total, domestic sales were recorded at 51,101 units, a decline from 54,241 units in September 2023. On the export front, the company shipped out 13,100 units, reflecting a nearly 25 percent drop from the prior year’s figures.
Despite these year-on-year challenges, Hyundai experienced an increase in domestic sales on a month-to-month basis, rising from 49,525 units in August 2024 to 51,101 units in September. However, exports saw a slight reduction from 13,650 units in August to 13,100 units in September. Hyundai highlighted that its SUV lineup constituted a significant 70 percent of total sales for the month, while CNG vehicles contributed 13.8 percent to overall sales.
Kia India, on the other hand, reported a total of 23,523 units sold in September 2024, signifying a 17 percent increase from the 20,022 units sold in the same month the previous year. The Sonet emerged as the brand’s most popular model, with sales exceeding 10,000 units, followed closely by the Seltos at 6,959 units and the Carens at 6,217 units. Additionally, Kia’s exports reached 2,006 units.
The company shared that it sold a total of 66,553 units during the third quarter of the calendar year, which translates to a 10 percent growth compared to the second quarter. Notably, the Sonet accounted for 45 percent of sales in this quarter, with the Seltos and Carens contributing 28 percent and 27 percent, respectively.
India’s largest automotive manufacturer, Maruti Suzuki, reported another month of declining sales, with total domestic sales reaching 148,061 units, down from 153,106 units. This figure included sales from its only light commercial vehicle (LCV), the Super Carry, which recorded sales of 3,099 units in September 2024, an increase from 2,294 units a year prior. Within specific segments, the Alto and S-Presso experienced slight growth, with sales rising from 10,351 units last year to 10,363 units in September 2024.
Utility vehicle sales also saw an uptick, climbing from 59,272 units to 61,549 units, while van sales increased from 11,147 units to 11,908 units. In contrast, Tata Motors reported total passenger vehicle sales of 41,313 units for September 2024, reflecting a year-on-year decline of 9 percent. Last year, the carmaker’s domestic sales stood at 45,317 units in the same month.
In the domestic market, Tata’s total passenger vehicle sales amounted to 41,063 units, marking an 8 percent decrease compared to the previous year, while exports halved to 250 units from 508 units in the same month last year. Passenger vehicle sales were also down relative to August 2024 when the company reported 44,486 units sold.
Electric vehicle (EV) sales at Tata Motors also saw a downward trend, with only 4,680 units sold this year—a significant drop of 23 percent year-on-year and a decline of 21.14 percent compared to August 2024. Cumulatively, Tata reported a 15 percent decrease in domestic sales, dropping from 82,023 units in September 2023 to 69,694 units last month.
On a more positive note, Toyota experienced a year-on-year sales increase of 14 percent, with a total of 26,847 units (including exports) sold in September 2024. The company’s domestic sales amounted to 23,802 units, complemented by exports totaling 3,045 units.
Toyota noted that its total sales for the first half of the financial year reached 162,623 units, which represents the highest figures the brand has ever achieved for this period. This is a significant improvement compared to the 123,939 units reported during the same timeframe last year. However, when compared to August 2024, Toyota’s cumulative sales experienced a decline, falling from 30,879 units.
While some brands like Maruti Suzuki, Kia, and Toyota demonstrated growth and resilience, others, including Hyundai and Tata Motors, faced significant sales declines in September 2024. The auto industry continues to navigate through challenging market conditions, highlighting the need for adaptive strategies to foster growth amidst fluctuating demand.
