Car Brand Sales in April 2024 | Decline in MoM sales in Indian Market

Key Highlights:

• Maruti Suzuki maintains lead with marginal 0.5% YoY growth, but faces significant 9.7% MoM decline.
• Mahindra emerges as a star performer, boasting impressive 18.2% YoY growth and 1.7% increase in market share.
• Kia struggles with substantial 14.0% YoY decline, contributing to 1.1% drop in market share.
• Toyota shows strong 32.0% YoY growth, offset by notable 25.6% MoM decline.

In April 2024, approximately 337,000 passenger cars were sold in India, marking a nearly stagnant performance compared to April of the previous year. This figure reflects an 8.7% decline from the preceding month of March 2024.

April typically sees subdued car sales, primarily because most Original Equipment Manufacturers (OEMs) implement price increases during this period, and there are no major festivals to drive sales. Additionally, following a robust March, automakers tend to ease off deliveries in April. The decrease in dispatches can be attributed to various factors such as the high sales base from the previous year, elevated dealer inventories, dwindling demand for compact cars, and the onset of general elections.

The impact of the ongoing elections, coupled with the enforcement of the model code of conduct, is expected to further dampen passenger vehicle sales in May 2024. This is anticipated to slow down cash transactions, consequently affecting overall sales. It's worth noting that the surge in bookings has significantly declined due to increased supply levels and improvements in semiconductor availability.

Cars Brand Sales in India - April 2024

Record Growth for Mahindra, Decline in Market Leader Maruti Suzuki's Dominance

In April 2024, the Indian automotive market witnessed notable shifts in sales figures, indicating both triumphs and challenges for various Original Equipment Manufacturers (OEMs). Here's a comprehensive breakdown of the month's sales performance

1. Maruti Suzuki

Despite retaining its top position in the market, Maruti Suzuki faced a marginal Year-on-Year (YoY) growth of 0.5%, with sales reaching 1,37,952 units. However, the Month-on-Month (MoM) analysis revealed a concerning 9.7% decline compared to March 2024, attributing to 40.9% market share, down by 0.5% from the same period last year.

2. Hyundai

Hyundai maintained its second position, reporting a YoY growth of 1.0% with 50,201 units sold. However, the MoM analysis demonstrated a 5.3% decrease in sales, resulting in a slight market share decline of 0.1%.

3. Tata

Tata Motors showcased a promising performance with a 1.9% YoY growth, selling 47,885 units. Similar to Hyundai, Tata also witnessed a MoM decrease of 4.4%, maintaining a stable market share from the previous year.

4. Mahindra

The standout performer of the month was Mahindra, experiencing a remarkable 18.2% YoY growth, reaching 41,008 units sold. This growth translated to a 1.7% increase in market share, showcasing the brand's strengthening position in the Indian automotive landscape.

5. Kia

Kia faced a challenging month, witnessing a significant 14.0% YoY decline in sales, amounting to 19,968 units. The MoM analysis also indicated a 6.7% decrease, resulting in a 1.1% drop in market share compared to the previous year.

6. Toyota

Toyota demonstrated substantial YoY growth of 32.0%, selling 18,700 units. However, a staggering MoM decline of 25.6% impacted the brand's market share, although it still managed to increase by 1.3% from the previous year.

7. MG, Honda, Renault, VW, Skoda, Nissan, Citroen, Jeep

These OEMs experienced varied performance during April 2024, with fluctuations in both YoY and MoM sales figures. Honda notably faced a significant 18.1% YoY decline, while Skoda witnessed a notable 35.7% decrease. Citroen and Jeep also struggled, each with a substantial YoY decline of nearly 60% and 32.4%, respectively.

April 2024 Market Share

Carbike360 Says

Despite individual fluctuations, the total automotive market in India recorded a modest 1.7% YoY growth, totaling 3,37,070 units sold. However, compared to March 2024, the market saw an 8.7% decline, reflecting the ongoing challenges and fluctuations within the industry.

While some OEMs celebrated growth and market share increases, others faced significant challenges, highlighting the dynamic and competitive nature of the Indian automotive market in April 2024.