Only Mahindra and Toyota sees Positive MoM and YoY Growth in July Car sales

In July 2024, the automotive market experienced varied performances among leading brands. Mahindra and Toyota emerged as top performers with impressive sales growth, while Maruti Suzuki and Hyundai encountered declines.

By Mohit Kumar

23.43k

Aug 06, 2024 10:10 am IST

The latest sales data for July 2024 reveals a competitive landscape among major automotive brands, showcasing significant shifts in the market dynamics. While some brands experienced growth, others faced challenges, highlighting the diverse performance across the industry.

RANK	OEM	YoY Analysis			MoM Analysis
		July'24	July'23	GROWTH	July'24	June'24	GROWTH
1	Maruti Suzuki	1,37,463	1,52,126	-9.6%	1,37,463	1,37,160	0.2%
2	Hyundai	49,013	50,701	-3.3%	49,013	50,103	-2.2%
3	Tata	44,727	47,630	-6.1%	44,727	43,527	2.8%
4	Mahindra	41,623	36,205	15.0%	41,623	40,022	4.0%
5	Toyota	29,533	20,759	42.3%	29,533	25,752	14.7%
6	Kia	20,507	20,002	2.5%	20,507	21,300	-3.7%
7	Honda	4,624	4,864	-4.9%	4,624	4,804	-3.7%
8	MG	4,572	5,012	-8.8%	4,572	4,644	-1.6%
9	VW	3,407	3,814	-10.7%	3,407	3,260	4.5%
10	Renault	2,832	3,607	-21.5%	2,832	3,553	-20.3%
11	Skoda	2,103	4,207	-50.0%	2,103	2,566	-18.0%
12	Nissan	2,011	2,152	-6.6%	2,011	2,107	-4.6%
13	Citroen	335	388	-13.7%	335	339	-1.2%
14	Jeep	276	441	-37.4%	276	281	-1.8%
	TOTAL	3,43,026	3,51,908	-2.5%	3,43,026	3,39,418	1.1%

Top Car Brand Performers in July 2024

Maruti Suzuki

Sales: 137,463 units
YoY Growth: -9.6% (from 152,126 units)
MoM Growth: 0.2% (from 137,160 units)

Maruti Suzuki remains the market leader, despite a year-on-year decline of 9.6%. The brand managed a slight month-on-month increase, indicating stabilization in its sales performance.

Hyundai

Sales: 49,013 units
YoY Growth: -3.3% (from 50,701 units)
MoM Growth: -2.2% (from 50,103 units)

Hyundai continues to hold the second position, although it experienced a decline in both year-on-year and month-on-month sales, reflecting potential challenges in maintaining its market share.

Tata

Sales: 44,727 units
YoY Growth: -6.1% (from 47,630 units)
MoM Growth: 2.8% (from 43,527 units)

Tata saw a decrease in year-on-year sales but reported a notable increase of 2.8% month-on-month, indicating strong demand for its recent offerings.

Car Brands Showing Growth in July 2024

Mahindra

Sales: 41,623 units
YoY Growth: 15.0% (from 36,205 units)
MoM Growth: 4.0% (from 40,022 units)

Mahindra achieved impressive growth, with a 15% increase in year-on-year sales and a solid 4% rise month-on-month, driven by its popular SUV lineup.

Toyota

Sales: 29,533 units
YoY Growth: 42.3% (from 20,759 units)
MoM Growth: 14.7% (from 25,752 units)

Toyota recorded the highest year-on-year growth among the top brands, with a significant increase of 42.3%, and continued to build on its momentum with a 14.7% month-on-month rise.

Car Brands Facing Declines in July 2024

Kia

Sales: 20,507 units
YoY Growth: 2.5% (from 20,002 units)
MoM Growth: -3.7% (from 21,300 units)

Kia experienced a positive year-on-year growth but faced a month-on-month decline, indicating fluctuations in consumer demand.

Honda, MG, VW, Renault, Skoda, Nissan, Citroen, and Jeep all faced year-on-year sales declines, with Skoda experiencing the most significant drop at 50%. Month-on-month performance was mixed, with Volkswagen showing a slight recovery with a 4.5% increase.

Industry Overview

Total Sales: 343,026 units
YoY Change: -2.5% (from 351,908 units)
MoM Change: 1.1% (from 339,418 units)

The overall market saw a 2.5% decline in year-on-year sales, reflecting ongoing challenges in the automotive sector. However, the month-on-month increase of 1.1% suggests some recovery and resilience among certain brands.

Conclusion

The sales data for July 2024 highlights a dynamic market with varying performances across brands. While some companies capitalized on growing segments like SUVs, others faced hurdles in maintaining their sales momentum. As the industry continues to evolve, brands that can adapt to changing consumer preferences and innovate in their offerings are likely to lead the way in future sales growth.