Sub 4m SUV Sales Jan '24: Tata Punch Leads, Jimny Slumps, Sonet Surges, Segment Grows Strong

Key Highlights

• Tata Punch (ICE+EV) dominates with 17,978 units.
• Maruti Jimny records a significant 77.67% MoM decline.
• Sub 4m SUV segment sees 42.78% YoY growth.
• Renault Kiger faces a notable 34.95% YoY decline.
• Overall sales reach 1,20,312 units, emphasizing the dynamic nature of the market.

In January 2024, the sub 4m SUV segment experienced a significant decline, with Maruti Suzuki Jimny experiencing the largest decline at 77.67% MoM. Tata Motors, a major player, dominated the market with its sales figures for Nexon and Punch, including their electric counterparts Nexon EV and Punch EV. Thar also registered its best-ever figures in the segment.

YoY Growth Sub-Compact SUVs Chart

Sub 4m SUV Sales January 2024

Tata Punch (ICE+EV) secured the top position in this fiercely competitive segment, selling a staggering 17,978 units. This marked a remarkable 49.74% YoY growth, emphasizing Tata's stronghold in the market. The recently launched Punch EV played a pivotal role in this achievement, contributing significantly to the overall sales.

Not far behind, Nexon (ICE+EV) claimed the second spot with 17,182 units sold, registering a commendable 10.37% YoY growth. The combined sales of Nexon and Punch, both internal combustion engine (ICE) and electric vehicle (EV) variants, accounted for almost 30% of the sub 4m SUV sales in January 2024.

Maruti Suzuki showcased its prowess by selling 15,303 units of Brezza and 13,643 units of Fronx, securing a total market share of 24.06% in the sub 4m SUV category. Brezza witnessed 6.57% YoY growth, while Fronx recorded an impressive 40.77% MoM growth.

Hyundai Venue and Kia Sonet, the dynamic South Korean duo, nearly matched in numbers with 11,831 and 11,530 units sold, respectively. Sonet stole the spotlight with a staggering 1,15,200% MoM growth, attributed to the pre-facelift model's low sales in December 2023 before the launch of the facelifted version.

MoM Growth Sub-Compact Suvs Chart

Vehicles with sub 10K units sold

Mahindra's Bolero (OG Bolero + Bolero Neo) maintained its position as the best-selling sub 4m SUV in the Mahindra lineup, clocking 9,964 units. Bolero exhibited steady growth with a 16.21% YoY and 24.63% MoM increase.

The recently launched Hyundai Exter secured 8th place with 8,229 units sold, showcasing a 9.49% MoM growth. Mahindra Thar, in the lifestyle off-road SUV niche, recorded 6,059 units sold, marking an impressive 37.39% YoY growth.

However, the news wasn't as positive for Renault Kiger, which experienced a significant decline with 750 units sold and a 34.95% YoY and 13.29% MoM decline.

Maruti Suzuki Jimny witnessed its lowest-ever sales since launch, with only 163 units sold, resulting in a substantial 77.67% MoM decline. In contrast, Mahindra Thar celebrated its highest-ever sales in the same period.

Also Read: Mahindra Thar’s Waiting Period Reduced to 52-Week in Feb’24

CarBike360 Says

The sub 4m SUV sales chart for January 2024 showcased an overall growth of 42.78% YoY, reaching 1,20,312 units. Tata Motors dominated the market, while Maruti Suzuki faced challenges, particularly with the Jimny model. As the industry continues to evolve, pricing strategies and product innovations may become crucial factors in determining the success of sub-4 m SUVs in the future.