Maruti Suzuki March 2024 Sales Report: The Auto Giant Sees YoY Growth & MoM Decline

Key Highlights:

• Maruti March 2024 sales numbers are out
• The brand's domestic passenger vehicle sales saw a YoY growth but a MoM decline
• Compact segment comprising of hatchbacks & Dzire remains the highest volume driver for Maruti

The March 2024 sales numbers of India’s largest car maker Maruti Suzuki is out. The auto giant sold a total of 1,52,718 passenger vehicles in the domestic market in the month of March this year. With 1,32,763 units sold in March 2023, the car maker saw a YoY growth of 15.03%. On the other hand, it saw a MoM decline of 4.7% with 1,60,271 units sold in the previous month of Feb 2024.

Mini Hatchback Segment Sales

In the entry level mini hatchback segment, which comprises Maruti cars like Alto and S-Presso, the brand sold 11,829 units in March 2024 compared to 11,582 units in March 2023. That’s a 2.13% YoY growth. Looking at the previous month sales numbers of the mini hatchback segment, Maruti had sold a total of 14,782 units in February 2024. This means a MoM growth of 19.97%.

Compact Segment Sales

In the compact segment, with Maruti cars like Baleno, Swift, WagonR, Celerio, Ignis, Dzire, etc, the brand sold 69,844 units in March this year. That’s a YoY decline of 2.76% when compared to the March 2023 sales of 71,832 units. Moreover, that’s also a MoM decline of 2.4% with 71,627 units sold in Feb this year.

Mid-Size Segment Sales

With Maruti Ciaz as the only model in the mid size segment, the brand sold 590 units in March 2024 compared to 300 units in March 2023, resulting in YoY growth of 96.66%. Also, with 481 units sold in Feb 2024, the brand also saw a MoM growth of 22.66%.

Utility Vehicle Segment Sales

Moving on to the UV segment, with models like Brezza, Fronx, Grand Vitara, Jimny, Ertiga, XL6, Invicto, etc, the brand sold a total of 58,436 units in March 2024. When compared to the March 2023 sales number of 37,054 units, the brand has seen a YoY growth of 57.7%. However, with Feb 2024 sales numbers of 61,234 units, the brand saw a MoM decline of 4.5%.

Van Segment Sales

With Maruti Eeco being the only car in the van segment, its sales numbers in March 2024 stood at 12,019 units, which is 0.2% more than the 11,995 units in March 2023. However, it is also 1.05% less than the Feb 2024 number of 12,147 units.

CarBike360 Says

Apart from the YoY growth of 15.03%, Maruti continues to lead the Indian passenger car market with 42 percent market share. In the UV segment too, the brand has clocked 22 percent market share. Moreover, when compared to the 10 percent growth of the entire industry in the month of March, Maruti's 15.03 percent growth truly deserves acknowledgment.