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Look at Most Selling Car Brands in March 2024 after Maruti
Discover the top-selling car brands in March 2024 after Maruti. Explore the latest trends and find out which brands dominated the market.
Key Highlights:
- Maruti Suzuki leads March 2024 sales with a 15% YoY growth, reinforcing its market dominance.
- Tata, Hyundai, and Mahindra also achieve double-digit growth, signaling a positive industry trend.
- Despite a 0.80% MoM decline, Volkswagen and Skoda show strong recovery with impressive growth.
- Maruti Suzuki secures 41.30% market share, while Toyota gains 1.20%, cementing their positions in the market.
The Automotive Industry is growing at a rapid pace in India. All OEMS are working on new innovations and launching new models whether it’s electric or fossil fuel vehicles. But who is performing well? Now the March 2024 sales figures have just been released, showcasing a notable Year-over-Year (YoY) growth across the board. Among the key highlights is Maruti Suzuki's impressive performance, leading the surge in sales.
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YoY Car Brand Sales
Maruti Suzuki, India's largest car manufacturer, witnessed a substantial 15% increase in sales compared to March 2023, reaching 152,718 units. This surge solidifies Maruti's dominance in the market, capturing a significant 41.30% of the market share.
Other notable performers include Tata, Hyundai, and Mahindra, all reporting double-digit growth percentages. Tata recorded a remarkable 13.80% growth, with Hyundai and Mahindra following closely at 4.70% and 12.90%, respectively.
However, some manufacturers faced challenges, with Skoda, Citroen, and MG witnessing declines of 36.8%, 50.1%, and 23.2%, respectively.
Overall, the industry experienced a commendable 9.90% YoY growth, indicating a positive trajectory in the automotive sector.
YoY Analysis | |||
OEM | March 2024 | March 2023 | Growth |
Maruti Suzuki | 152,718 | 132,763 | 15.00% |
Hyundai | 53,001 | 50,600 | 4.70% |
Tata | 50,105 | 44,047 | 13.80% |
Mahindra | 40,631 | 35,976 | 12.90% |
Toyota | 25,119 | 18,670 | 34.50% |
Kia Auto | 21,400 | 21,501 | -0.50% |
Honda | 7,071 | 6,692 | 5.70% |
MG | 4,648 | 6,051 | -23.20% |
Renault | 4,225 | 5,389 | -21.60% |
VW | 3,529 | 3,900 | -9,5% |
Skoda | 2,802 | 4,432 | -36,8% |
Nissan | 2,701 | 3,260 | -17,1% |
Citroen | 1,006 | 2,015 | -50,1% |
Jeep | 425 | 680 | -37,5% |
Total | 369,381 | 335,976 | 9.90% |
MoM Car Brand Sales
March 2024 showed a slight dip in sales compared to February, with a marginal decrease of 0.80%. Despite this, several manufacturers managed to maintain or even improve their sales figures month-on-month.
Volkswagen and Skoda stood out with impressive growth percentages of 16.90% and 24.30%, respectively, showcasing a strong recovery from the previous month's performance.
However, Maruti Suzuki experienced a 4.70% decline in sales compared to February, while Tata and Mahindra also saw decreases of 2.30% and 4.20%, respectively.
MoM Analysis | |||
OEM | March 2024 | February 2024 | Growth |
Maruti Suzuki | 152,718 | 160,272 | -4.70% |
Hyundai | 53,001 | 50,201 | 5,6% |
Tata | 50,105 | 51,270 | -2.30% |
Mahindra | 40,631 | 42,401 | -4.20% |
Toyota | 25,119 | 23,300 | 7.80% |
Kia Auto | 21,400 | 20,200 | 5.90% |
Honda | 7,071 | 7,142 | -1.00% |
MG | 4,648 | 4,532 | 2.60% |
Renault | 4,225 | 4,080 | 3.60% |
VW | 3,529 | 3,019 | 16.90% |
Skoda | 2,802 | 2,254 | 24.30% |
Nissan | 2,701 | 2,755 | -2.00% |
Citroen | 1,006 | 421 | 139.00% |
Jeep | 425 | 331 | 28.40% |
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