Maruti Suzuki, Hyundai, Tata Motors report decline in July sales

Passenger vehicle sales of Maruti Suzuki India Ltd, India’s largest carmaker, declined 9.6% year-on-year to 137,463 units in July 2024 compared with 152,126 units in the corresponding month last year.

IPO-bound Hyundai Motor India Ltd witnessed a 3% decline in passenger vehicle sales in July. The South Korean carmaker registered total sales of 64,563 units last month, down 3% from 66,701 units in July 2023.

The automaker’s domestic sales fell 3.33% year-on-year to 49,013 units in July 2024 compared with 50,701 units in July 2023. Exports declined 2.8% to 15,550 units.

“We have posted an overall sales growth of 4.31% year-on-year in the period of January to July 2024. SUVs continue to demonstrate a robust contribution, accounting for 66.6% of total HMIL's domestic sales,” says Tarun Garg, whole-time director and chief operating officer, HMIL.

Tata Motors’ domestic passenger vehicle sales dropped 6% to 44,725 units in July 2024 from 47,628 units in the same month last year. Its electric vehicle sales of dropped by 21% to 5,027 units in July as against 6,329 units in the same month of 2023.

Homegrown automaker Mahindra & Mahindra sold 41,623 vehicles in the domestic market, a growth of 15% and overall, 42,012 vehicles, including exports. “We sold a total of 41,623 SUVs in June, a growth of 15% and 66,444 total vehicles,” says Veejay Nakra, president, Automotive Division, M&M.

Kia India sold 20,507 units in the domestic market in July 2024, registering 2.5% year-on-year growth compared to the 20,002 units sold in July 2023. The newly launched Sonet claimed the highest contribution to Kia India’s July 2024 sales with 9,459 units, followed by Carens and Seltos with 5,679 and 5347 units, respectively.

Japanese carmaker Toyota Kirloskar Motor registered best-ever monthly wholesale of 31,656 units in July 2024. While domestic sales accounted for 29,533 units, exports totalled to 2,123 units during the month. This marks a remarkable growth of 44% compared to July 2023, when 21,911 units were sold. In the previous month of June 2024, TKM sold 27,474 units.

JSW MG Motor India announced retail sales of 4572 units in July 2024. The company’s electric vehicle portfolio accounts for more than 35% of the total units sold during the month. The carmaker is gearing up for its next launch, a Crossover Utility Vehicle (CUV) ‘Windsor’, in the forthcoming festive season.