India’s domestic car market experienced a boost in November 2024, with leading manufacturers such as Maruti Suzuki, Tata Motors, and Toyota Kirloskar showing strong growth in vehicle dispatches to dealers.
Insights
Maruti Suzuki India Ltd reported a 5.3% increase in its domestic passenger vehicle sales, reaching 141,312 units in November, compared to 134,158 units during the same period last year.
The surge was particularly evident in the SUV segment, where sales of models like the Brezza, Grand Vitara, and Jimny grew significantly, rising to 59,003 units from 49,016 units in November 2023.
Toyota Kirloskar Motor (TKM) saw a remarkable 44% jump in sales, selling 25,586 units in November 2024, up from 17,818 units in the previous year.
The company also exported 1,140 units, with Vice President Sabari Manohar noting that the company’s broad portfolio continues to meet diverse consumer needs.
“Our diverse portfolio, spanning from hatchbacks to SUVs, continues to offer tailored mobility solutions that resonate with varying lifestyles,” Sabari Manohar asserted.
Tata Motors recorded a 2% year-on-year increase in passenger vehicle sales, totaling 47,117 units in November 2024.
However, commercial vehicle sales saw a slight dip of 1%, totaling 27,636 units. Overall, Tata Motors sold 74,753 vehicles during the month, slightly higher than 74,172 units in November 2023.
Hyundai Motor India Ltd reported a total of 61,252 units sold in November 2024, with domestic sales standing at 48,246 units and export sales at 13,006 units.
Tarun Garg, HMIL Chief Operating Officer stated, “HMIL’s push towards fortifying SUV supremacy continued in November with SUVs contributing 68.8 per cent of our total domestic sales. We also bolstered HMIL’s presence in the hinterland of India, by achieving the highest-ever monthly rural contribution of 22.1 per cent in November. Our innovative Hy-CNG technology continues to strengthen HMIL’s CNG sales, with a 14.4 per cent contribution in November 2024.”
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