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Top automobile manufacturers in India, including Maruti Suzuki, Hyundai Motor, Tata Motors, Mahindra & Mahindra, and Toyota Kirloskar Motor, reported greater car sales in March, and the automakers concluded fiscal 2024 with record sales figures, according to monthly company data.
Automakers release wholesale to dealers from their factory gates once a month. The automotive industry accounts for over 50% of the country's economic growth.
The largest automaker in India, Maruti Suzuki, said that domestic passenger car sales increased by 15% in March 2024 to 1,52,718 units from 1,32,763 units in the same month the previous year. With 17,59,881 units, or 1.75 million units (MU), Maruti announced its best-ever FY 2024 dispatches, up 10% from 16,06,870 units, or 1.60 MU, sold in the local market in FY 2023.
Sales at Hyundai Motor also rose by 5% to 53,001 units, compared to 50,600 units in the same period last year. Hyundai Motor recorded its best-ever domestic market sales of 61,4,721 units in FY2024, an increase of 8.3% over FY2023's 56,7,546 units. Similarly, sales at Tata Motors, the third biggest car maker, increased by 14% at 50,110 units last month, up from 44,044 units sold in March 2023. Tata Motors dispatched 5,70,955 units in FY2024, improving its year-ago sales by 6% (FY2023: 538,640 units).
Sales at Mahindra, the utility vehicle specialist, jumped 13% to 40,631 vehicles compared with 35,997 vehicles last year. Mahindra wrapped up FY2024 with its best-ever sales at 45,9,877 units, growing 28% over previous fiscal (FY2023: 35,9,253 units). Sales at Toyota Kirloskar Motor jumped 25% at 27,180 units last month, up from 21,783 units sold in March last year.
Toyota's recorded fiscal year sales at 48% at 26,3,512 units in FY2024, compared with 17,7,683 units sold in FY2023. Sales at Honda Cars stood at 7,071 units in March 2024 compared with 6,692 units sold in the same month last year. In FY24, Honda Cars sold 1,24,173 units, up from 1,14,140 units sold in the previous year.
Also Read : January auto sales: Passenger vehicles, three-wheelers continue to top sales in FY24 Maruti Suzuki expands Manesar manufacturing capacity by 100k units annually
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