Maruti Suzuki has consistently been India’s top-favorite car for months now. While Suzuki has topped the list, Toyota has broken records. Toyota witnessed Record growth in July 2024. Maruti sold nearly 1.4 lakh vehicles, surpassing the combined sales of Hyundai, Tata, and Mahindra. It also saw a nearly 10% decline in year-on-year (YoY) sales, dropping from 1,52,126 units in July 2023 to 1,37,463 units in July 2024.
Hyundai Falls Short of 50,000 Units
Hyundai, despite being a strong competitor, failed to cross the 50,000-unit sales mark in July 2024. The Korean automaker sold 49,013 units, marking a 2.2% decrease in month-on-month (MoM) sales compared to June 2024. Additionally, Hyundai experienced a 3.3% decline in YoY sales, dropping from 50,701 units in July 2023.
Tata Motors Holds Steady
Tata Motors secured the third spot in July 2024, selling approximately 44,727 units. The company saw a slight increase in MoM sales, with an additional 1,000 units sold compared to June 2024. However, Tata's YoY sales decreased by about 3,000 units, reflecting a 6.1% decline from 47,630 units in July 2023.
Mahindra Shows Positive Growth
Mahindra was the fourth automaker to exceed the 40,000 sales mark in July 2024, selling 41,623 units. The brand recorded a positive growth of 4% in MoM sales and a significant 15% increase in YoY sales, up from 36,205 units in July 2023.
Toyota Achieves Record Growth
Toyota stood out in July 2024 with the highest double-digit growth among major car brands. The Japanese automaker sold 29,533 units, a 14.7% increase in MoM sales from 25,752 units in June 2024. Even more impressive, Toyota's YoY sales surged by 42.3%, up from 20,759 units in July 2023.
Kia's Slight Decline
Kia experienced a slight decline in July 2024, with sales dropping by 3.7% compared to June 2024. The company sold 20,507 units in July, down from 21,300 units in the previous month. However, Kia's YoY sales showed a marginal growth of 2.5%, up from 20,002 units in July 2023.
Honda Struggles to Meet Expectations
Honda faced challenges in July 2024, selling only 4,624 units, failing to reach the 5,000-unit mark. The brand saw a 3.7% decrease in MoM sales and a 4.9% decline in YoY sales, down from 4,864 units in July 2023.
MG Maintains Steady Demand
MG maintained a consistent monthly demand in July 2024, selling 4,572 units. Despite stable MoM sales, the brand experienced an 8.8% decline in YoY sales, dropping from 5,012 units in July 2023.
Volkswagen Overtakes Renault
Volkswagen showed a 4.5% increase in MoM sales, selling 3,407 units in July 2024, up from 3,260 units in June 2024. However, the brand saw a 10.7% decline in YoY sales, down from 3,814 units in July 2023. Volkswagen's growth helped it surpass Renault in sales for the month.
Renault Faces Significant Decline
Renault faced the steepest decline among major car brands in July 2024. The company sold only 2,832 units, a 20.3% drop in MoM sales from 3,553 units in June 2024. Renault's YoY sales also fell by 21.5%, down from 3,607 units in July 2023, placing it at the bottom of the sales chart.
In summary, July 2024 saw Maruti Suzuki maintaining its leadership in the Indian car market, despite a slight decline in YoY sales. Toyota emerged as the standout performer with significant MoM and YoY growth. Hyundai, Tata, and Mahindra remained strong contenders, while brands like Kia, Honda, MG, Volkswagen, and Renault faced various challenges. The month highlighted the dynamic nature of the Indian automotive market, with some brands thriving and others struggling to keep pace.
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