The midsize SUV market saw a month-over-month (MoM) growth of approximately 27% in January 2024. The majority of SUVs saw positive month-over-month growth in sales last month, with Mahindra's Scorpio N and Scorpio Classic selling almost twice as many units as the Mahindra XUV700, which is the next best-selling mid-size SUV.
Top 10 mid-size SUV sales sales of January 2024
Mahindra Scorpio sold 14,293 units in January 2024 as compared to 11,355 in December 2023. It is seen that Month over month, there has been a 25.87% increase in sales. In January 2024, Mahindra XUV700 sold around 7,206 units as compared to 5,881 units in December 2023. There has been a 22.53 percent increase in sales with each passing month. Also, Tata Safari sold 2,893 units in January 2024, and in December 2023, 2,103 units were sold. Just within over a month, there has been a growth in sales of 37.56 percent.
Tata Harrier sold 2,626 units in January 2024 as compared to 1,404 units in December 2023. Additionally, there has been an 87.03 percent increase in sales one month over a month.
In January 2024, Hyundai Alcazar sold 1,827 units, compared to 9,54 units in December 2023 marking its position in the top 5 . Month over month, there has been a 91.5 percent increase in sales.
Additionally, MG sold more than 1,800 Hector midsize SUVs at retail, good for sixth place in the sales chart. But in January, Hector's month-over-month (MoM) sales dropped by almost 17%. It is noteworthy that the sales figures encompass both the three-row MG Hector Plus and the five-seater MG Hector.
Even though sales of the Jeep Compass have been steady over the past six months, only 286 people purchased one last month. Its market share in the segment decreased by more than 3 percent year over year, and it is currently less than 1 percent.
Less than 200 Tucson, Hyundai's flagship ICE (internal combustion engine)-powered SUV in India, were sold last month, marking a 12.5 percent drop in sales. The Volkswagen Tiguan had the greatest MoM loss of about 59 percent in January 2024, ranking ninth in the sales chart.
With only one buyer in January 2024, the Citroen C5 Aircross was the least popular model in its class for that month.
Also, to sum up, Popular models like the Scorpio, Bolero, XUV700, and Thar are among the many models in Mahindra's lineup. These models helped the company achieve a respectable 30% YoY growth in sales in January 2024, securing its place as a significant player in the Indian auto industry.