Auto Sales: Indian car manufacturing companies have released sales figures during March 2024. In a way, the sales of cars of domestic automobile manufacturer Maruti Suzuki got a boost. Due to discount in the prices of cars during the festive season like Holi, it recorded a growth of 1 per cent and sold around 1,87,196 units in this month. Although, other car companies also presented discount offers to the customers on their respective models, but Maruti remained at the top among them. At the same time, South Korean company Hyundai was at second place, which sold about 65,601 units with an increase of seven percent. Like always, Tata Motors seems to be lagging behind in sales this time too, while Mahindra has registered an increase of about four percent in car sales.
Maruti Suzuki’s total sales in March crossed 1.87 lakh
According to a report by news agency Bhasha, total sales of Maruti Suzuki India increased by 10 percent to 1,87,196 units during March 2024, while in March 2023 the company sold 1,70,071 vehicles. Maruti Suzuki India said in the statement that in the financial year 2023-24, the company recorded the highest annual domestic sales of 17,93,644 units. Besides, a record 2,83,067 units were exported. With this, the company crossed the total annual sales figure of 20 lakh units during the last financial year. However, its total domestic sales in March 2024 stood at 1,61,304 units, whereas this figure was 1,39,952 units in the same month a year ago.
Hyundai is at second place in terms of sales
At the same time, South Korean company Hyundai Motor India stood second in terms of vehicle sales in March 2024. The total sales of Hyundai Motor India, India’s second largest automobile manufacturer, increased by seven percent year-on-year in March to 65,601 units, while it had sold 61,500 vehicles in March 2023. Hyundai Motor India Limited released sales figures on Monday. Domestic wholesale sales of vehicles increased by five percent last month to 53,001 units. It was 50,600 units in the same month a year ago. Exports increased by 16 percent to 12,600 units in March, compared to 10,900 units in the same period a year ago.
Mahindra sales increase by 4 percent in March
Mahindra & Mahindra’s total sales during March 2024 increased by four percent to 68,413 units. The data released by the company states that it had sold 66,041 units in March 2023. According to the statement, sales of its passenger vehicles in the domestic market increased by 13 percent to 40,631 units last month, which was 35,997 units in March last year. In the financial year 2023-24, the automaker’s wholesale sales of passenger vehicles increased by 28 percent to 4,59,877 units.
Tata Motors sales increased by two percent
In terms of vehicle sales, Tata Motors’ total domestic wholesale sales in March increased by two percent to 90,822 units, whereas in March 2023 it had sold 89,351 units. According to the company, sales of passenger vehicles including electric vehicles in the domestic market stood at 50,297 units in March. This is 14 percent more than 44,225 units in the same period last year. The total commercial vehicle supply in the domestic market last month stood at 40,712 units, which is 10 percent less as compared to the figure of 45,307 in March 2023. According to the company, total wholesale sales in the domestic market stood at 9,49,015 units in the financial year ending March 31, 2024, which is two percent more than 9,31,957 units in 2022-23.
Also Read: Raghuram Rajan said, India’s entry into chip manufacturing will be disastrous
MG motor sales decreased by 23 percent
China’s MG Motor India is in the worst position in terms of vehicle sales during March 2024. Its retail sales in March declined by 23 percent on an annual basis to 4,648 units. This company had sold 6,051 units in March 2023. According to the statement issued by the company, the company’s sales increased by about 14 percent on an annual basis in the financial year 2023-24.
Also Read: Which is better Automatic or Manual Gearbox in Cars?