Most car brands have registered a positive month-on-month (MoM) sales growth in last month’s sales
The brand-wise sales report for March 2024 is out, and as usual, Maruti Suzuki remains the best-selling car brand in India, with Hyundai, Tata, Mahindra, and Toyota also securing spots in the top 5. While most brands recorded positive month-over-month (MoM) growth last month, a few faced year-on-year (YoY) sales losses. Let’s take a closer look at the performance of each brand in March 2024 sales.
| Brand | March 2024 | February 2024 | MoM Growth % | March 2023 | YoY Growth % |
| Maruti Suzuki | 1,52,718 | 1,60,272 | -4.7 | 1,32,763 | 15 |
| Hyundai | 53,001 | 50,201 | 5.6 | 50,600 | 4.7 |
| Tata | 50,105 | 51,270 | -2.3 | 44,047 | 13.8 |
| Mahindra | 40,631 | 42,401 | -4.2 | 35,976 | 12.9 |
| Toyota | 25,119 | 23,300 | 7.8 | 18,670 | 34.5 |
| Kia | 21,400 | 20,200 | 5.9 | 21,501 | -0.5 |
| Honda | 7,071 | 7,142 | -1 | 6,692 | 5.7 |
| MG | 4,648 | 4,532 | 2.6 | 6,051 | -23.2 |
| Renault | 4,225 | 4,080 | 3.6 | 5,389 | -21.6 |
| Volkswagen | 3,529 | 3,019 | 16.9 | 3,900 | -9.5 |
Key Takeaways
- In March 2024, Maruti Suzuki alone sold more than 1.5 lakh vehicles in India, surpassing the combined sales of Hyundai, Tata, and Mahindra. Although Maruti’s MoM sales declined by nearly 5 percent, it still achieved a 15 percent growth in YoY sales.
- Hyundai surpassed Tata to become the second best-selling car brand in March 2024. The Korean automaker sold around 53,000 cars last month, with positive growth of 5.6 percent and 4.7 percent in both MoM and YoY sales, respectively.
- Tata slipped to the third spot in the sales table, though it still crossed the sales mark of 50,000 units last month. Though Tata’s MoM sales dipped by more than 1,000 units last month, the Indian automaker registered a growth of 14 percent in YoY sales.
- Mahindra dispatched more than 40,600 SUVs last month, taking a hit of over 4 percent in monthly sales. However, its yearly sales have increased by almost 13 percent.
- With over 25,000 cars sold, Toyota not only registered nearly 8 percent growth in MoM sales, but it also registered the highest growth of 34.5 in YoY sales.
- Kia also registered a growth of almost 6 percent in MoM sales with over 21,000 cars sold in March 2024. The Korean automaker also maintained a consistent demand in YoY sales.
- Honda was another consistent performer last month, once again surpassing the sales mark of 7,000 units in March 2024, with only a 1 percent decline in MoM sales. The Japanese automaker also recorded YoY growth of nearly 6 percent.
- Though MG sold over 4,500 cars in March 2024 with a monthly growth of around 3 percent, its yearly sales dropped by more than 1,400 units in March 2024.
- Renault also managed to cross the sales mark of 4,000 units last month, but it faced a decline of nearly 22 percent in YoY sales.
- At last, Volkswagen sold more than 3,500 cars in March 2024 registering a growth of around 17 percent in MoM sales. However, its YoY sales dipped by nearly 10 percent in March 2024.
