Car gross sales in high gear, Maruti, Mahindra, Tata struggling because of craze for SUVs – India TV Hindi

passenger automobiles in india Wholesale gross sales of the corporate stood at a report of greater than 42 lakh models within the monetary yr 2023-24. Throughout this era, a robust bounce was seen within the gross sales of sports activities utility automobiles (SUVs). Report gross sales from automotive corporations together with Maruti Suzuki India, Hyundai Motor India and Tata Motors led producers to ship a complete of 42.3 lakh automobiles to sellers final monetary yr. This determine is 9 % greater than 38.9 lakh models for the monetary yr 2022-23.

SUV share crossed 50%

The share of sports activities utility automobiles in complete passenger automobile wholesales elevated to 50.4 % within the final monetary yr in comparison with 43 % in 2022-23. Maruti Suzuki India’s (MSI) complete gross sales elevated by 10 per cent to 1,87,196 models in March this yr. In the identical month final yr, the corporate had bought 1,70,071 automobiles. Maruti Suzuki India mentioned within the assertion that the corporate recorded the very best annual home gross sales of 17,93,644 models within the monetary yr 2023-24. Aside from this, a report of two,83,067 models had been exported. With this, the corporate crossed the whole annual gross sales determine of 20 lakh models over the last monetary yr. Maruti Suzuki mentioned that its complete home gross sales in March stood at 1,61,304 models, whereas the determine was 1,39,952 models in the identical month a yr in the past.

Slight improve in Tata Motors gross sales

Tata Motors’ complete home wholesale gross sales in March elevated by two % to 90,822 models. In the identical month a yr in the past, the corporate had bought 89,351 models within the home market. In accordance with the corporate, gross sales of passenger automobiles, together with electrical automobiles, within the home market stood at 50,297 models in March. That is 14 % greater than 44,225 models in the identical interval final yr. Whole business automobile provides within the home market final month stood at 40,712 models, which is 10 % lower than the determine of 45,307 models in March 2023. In accordance with the corporate, complete wholesale gross sales within the home market stood at 9,49,015 models within the monetary yr ending March 31, 2024, which is 2 % greater than 9,31,957 models in 2022-23. Gross sales of passenger automobiles within the final monetary yr stood at 5,73,495 models, which is six % greater than 5,41,087 models within the monetary yr 2022-23.

Good demand for Hyundai motor automobiles

Hyundai Motor India’s complete gross sales in March elevated by seven % year-on-year to 65,601 models. The corporate had bought 61,500 automobiles in March 2023. Hyundai Motor India Restricted (HMIL) mentioned its home wholesales grew by 5 % at 53,001 models final month. It was 50,600 models in the identical month a yr in the past. Exports rose 16 % to 12,600 models in March, in comparison with 10,900 models in the identical interval a yr in the past. The corporate recorded its highest ever gross sales of seven,77,876 models in FY 2023-24, which is eight % greater than 7,20,565 models in FY 2022-23. Exports elevated by seven % to 1,63,155 models as in comparison with 1,53,019 models within the monetary yr 2022-23.

Mahindra gross sales elevated by 4 %

Home automobile producer Mahindra & Mahindra’s complete gross sales in March elevated by 4 % to 68,413 models. Releasing gross sales figures for February, the corporate mentioned it had bought 66,041 models in the identical interval a yr in the past. In accordance with the assertion, its passenger automobiles gross sales within the home market elevated by 13 per cent to 40,631 models final month as towards 35,997 models in March final yr. Within the monetary yr 2023-24, the auto producer’s wholesale gross sales of passenger automobiles elevated by 28 % to 4,59,877 models. Within the monetary yr 2022-23 it was 3,59,253 models.

Honda vehicles gross sales elevated by six %

Honda Automobiles India Restricted (HCIL) mentioned wholesale gross sales elevated six % to 7,071 models in March. HCIL mentioned in a press release that the corporate had shipped 6,692 models within the home market in March 2023. The corporate’s exports doubled to six,860 models within the month beneath evaluate. Kunal Bahl, Vice President (Advertising and Gross sales), Honda Automobiles India, mentioned that 2023-24 has been an necessary yr for the corporate and the corporate has strengthened its place within the SUV phase.

MG Motor India’s retail gross sales in March declined 23 % year-on-year to 4,648 models. The motorized vehicle producer had bought 6,051 models in March 2023. In accordance with the assertion, the corporate’s gross sales elevated by about 14 % on an annual foundation within the monetary yr 2023-24. Nevertheless, he didn’t share the figures associated to this.

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