Passenger vehicle sales went down by 0.96% compared to the previous year.

According to the data released by the Federation of Automobile Dealers Associations (FADA), vehicle retail sales grew by 2.61% in May 2024 compared to the same month last year.

Overall sales for the month of May 2024 stood at 20,89,603 units, compared to 20,36,528 units in May 2023.

Tractor sales dropped by 1.06%, from 70,813 units in May 2023 to 70,065 units last month.

Two-wheeler sales went up by 2.48% to 15,34,856 units from 14,97,778 units in May 2023.

Three-wheeler sales were up by 20.09% in May 2024. 98,265 units were sold, compared to 81,825 units in May 2023.

Passenger vehicle sales went down by 0.96% compared to the previous year. 3,03,358 units were sold last month, compared to 3,06,305 units in May 2023.

Commercial vehicle sales increased by 4.07%. 83,059 units were sold in May 2024, compared to 79,807 units in the previous year.

According to FADA, despite better supply, some pending bookings and discount schemes, the lack of new models, intense competition and poor marketing efforts by OEMs affected sales. Due to the extreme heat, the number of walk-ins to showrooms dropped by around 18%.

Team-BHP's detailed analysis of the May 2024 sales figures.

The top 3 positions are occupied by Maruti & Tata (Swift, Punch & Dzire).

The list of the top 10 best-selling cars in India in May 2024 consists of models from Maruti, Tata, Hyundai & Mahindra.

The top 3 positions are occupied by Maruti & Tata (Swift, Punch & Dzire). The Maruti WagonR sits in the 5th spot, while the 6th, 7th, 9th and 10th positions have been secured by the Brezza, Ertiga, Baleno & Fronx, respectively.

The Hyundai Creta is in 4th place, while the Mahindra Scorpio is in 8th position.

The top 10 cars sold in May 2024:

1. Maruti Swift - 19,393
2. Tata Punch - 18,949
3. Maruti Dzire - 16,061
4. Hyundai Creta - 14,662
5. Maruti WagonR - 14,492
6. Maruti Brezza - 14,186
7. Maruti Ertiga - 13,893
8. Mahindra Scorpio - 13,717
9. Maruti Baleno - 12,842
10. Maruti Fronx - 12,681

The 4-door Maruti Jimny, a sales disaster in India, is saved by its export potential.

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FY 2023-24 | Indian car export analysis | Japanese & Korean MNCs contribute 88% | Indian MNCs only 2%!

FY 2023-24 Export Highlights

• Industry: 6,71,756 units were exported from India; the growth rate was nearly flat at 1.3%.
• Brand: Maruti Suzuki is the largest exporter, with a 42% share, followed by Hyundai at 24%.
• Body style: Sedan export share is highest at 35%, followed by 30% of hatchbacks.
• Fuel: 98% of cars had a petrol-only engine.
• Product: The Maruti Baleno (Hatchback) was the most exported car, followed by the Hyundai Verna (Sedan).
• Export-only Products: Nissan Sunny (Sedan) and Mahindra KUV 100 (Hatchback) were export-only products from India with no domestic sales.
• MNC: The combined export contribution of Japanese and South Korean MNCs was 88%, whereas the Indian MNCs was mere 2%.

Indian car export industry

Over the last three decades, several foreign car makers, starting with Hyundai and Ford in the late 90s, have established an export-oriented manufacturing base in India as a clever strategy to mitigate the risk emanating from the local demand cycle and make India one of the global hubs of automobile production.

Exports from India touched peak in FY 2016–17, at 7,58,727 units. Since then, there has been a decline in exports. In the last fiscal year (2023–24), exports were near stagnant at 6,71,756 units, with just 1.3% growth over FY 2022–23.

Since the days of the highest exports (FY 2016-17) things have changed dramatically. Two American giants, GM and Ford (30% export market share then), have stopped making cars in India for domestic and export markets. Japanese MNCs gained a stronghold in exports, followed by South Koreans in FY 2023–24. Most exported product has changed from the Ford Ecosport (crossover) then, to the Maruti Baleno (hatchback), now.

What has not changed, though, is the dismal export share of Indian MNCs, namely Mahindra and Tata. Which is constant at ~2%, and volume-wise, has gone down by 651 units in the last seven years!

Exporter MNC’s country of origin

Foreign MNCs with operations across several continents have established India as one of their strong bases. And these MNCs now contribute 98% of the export volume from India. They have invested capital in India and created assets within the country that provide direct and indirect employment to many, besides capital infusion from their suppliers and port operators.

With the exit of Americans (except Jeep), Japanese carmakers took strong control of export volumes. Kia's entry and its strong export volume have taken Korean’s share to 32%. European’s export market share too has dropped in the past due to lower exports by Volkswagen (-42,672 units).

Brand

• Maruti-Suzuki, 55% owned by Suzuki Motors Corporation Japan remains the largest exporter of cars from India, accounting for 42% of the total export volume. It’s an incredible achievement for Maruti to double its export volume in the last 7 years.
• Hyundai’s volume has been consistent for a long time. Kia became the third-largest exporter of cars from India in a very short span of time, thus helping the plant production capacity to reach 95–100% utilization rate in the last fiscal year.
• Volkswagen and Nissan export over 50% of their production to international markets. Followed by Honda, Jeep, and Citroen, with over 30% volume.
• Despite a strong comeback in the Indian domestic market by Tata and Mahindra, their export volume is dismally low, with no progress whatsoever in the last decade. The irony is that within their group, they have software and service exporters like TCS and Tech Mahindra, which add a significant amount to Indian foreign exchange reserves.

Body style

Though in the Indian market, sedans and hatchbacks are dying breeds, there is demand for them in other markets. Thus, both body styles are being made in Indian factories and exported to foreign shores like Mexico, South Africa, etc.

Product: Export sales are higher than domestic sales

• Nissan has discontinued Sunny in India; however, its next generation is still being produced in India and getting exported to Mexico and Brazil.
• Mahindra is still producing diesel and petrol KUV 100, discontinued in India, and exporting them to Sri Lanka and some other markets.
• Hyundai has retained the Verna in the diminishing executive sedan segment of India because it has a substantial market globally, as is the case with the Volkswagen Virtus, Honda City, and Maruti Ciaz, thus making India a hub for global production.
• The 4-door Maruti Jimny, a sales disaster in India, is saved by its export potential.

Well, every market across the world is unique with varying tastes and preferences, which is why if some products have low or no demand in the domestic market, they can still be made for the export market with India as the base.

Product

Maruti Baleno (Hatchback) was the most exported car from India, followed by Hyundai Verna (Sedan) and Maruti Dzire (sub-4m sedan).

Read BHPian comments for more insights and information.

Passenger vehicle sales went up by 15.94% compared to the previous year.

According to the data released by the Federation of Automobile Dealers Associations (FADA), vehicle retail sales grew by 26.74% in April 2024 compared to the same month last year.

Overall sales for the month of April 2024 stood at 22,06,070 units, compared to 17,40,649 units in April 2023.

Tractor sales increased by 1.37%, from 55,857 units in April 2023 to 56,625 units last month.

Two-wheeler sales went up by 33.21% to 16,43,510 units from 12,33,763 units in April 2023.

Three-wheeler sales were up by 9.27% in April 2024. 80,105 units were sold, compared to 73,310 units in April 2023.

Passenger vehicle sales went up by 15.94% compared to the previous year. 3,35,123 units were sold last month, compared to 2,89,056 units in April 2023.

Commercial vehicle sales also increased by 2.31%. 90,707 units were sold in April 2024, compared to 88,663 units in the previous year.

As per FADA, the motor vehicle road tax collection rose to 25.2% from Rs 6,012 crore in April 2023 to Rs 7,528 crore last month.

Team-BHP's detailed analysis of the April 2024 sales figures.

The top 3 positions are occupied by Tata & Maruti (Punch, WagonR & Brezza).

The list of the top 10 best-selling cars in India in April 2024 consists of models from Maruti, Tata, Hyundai & Mahindra.

The top 3 positions are occupied by Tata & Maruti (Punch, WagonR & Brezza). The Maruti Dzire sits in the 4th spot, while the 7th, 8th, 9th and 10th positions have been secured by the Fronx, Baleno, Ertiga & Eeco, respectively.

The Hyundai Creta is in 5th place, while the Mahindra Scorpio is in 6th position.

The top 10 cars sold in April 2024:

1. Tata Punch - 19,158
2. Maruti WagonR - 17,850
3. Maruti Brezza - 17,113
4. Maruti Dzire - 15,825
5. Hyundai Creta - 15,447
6. Mahindra Scorpio - 14,807
7. Maruti Fronx - 14,286
8. Maruti Baleno - 14,049
9. Maruti Ertiga - 13,544
10. Maruti Eeco - 12,060

In second place was the Maruti WagonR with 17,850 units, followed by the Brezza.

The Tata Punch was the best-selling model in India last month. Punch sales zoomed past Maruti Suzuki’s popular models like the WagonR, Swift and Brezza.

The Punch has emerged as the highest-selling model for 2 months in succession. Tata Motors sold 19,158 units of the Punch last month compared to 17,850 units of the WagonR. The third best-selling model was the Maruti Suzuki Brezza with 17,113 units.

The Punch was on top of the sales charts in March 2024 with sales of 17,547 units. In the same month, the Hyundai Creta was in second place with 16,458 units, while the Maruti WagonR was in third with 16,368 units.

Models like the Tiago, Altroz, Punch and Nexon have fuelled Tata Motors’ growth in the past few years. In FY2024, the homegrown carmaker pipped Hyundai to become the second-largest brand in India in terms of sales.

Source: ET Auto

Passenger vehicle sales went up by 12.36% compared to the previous year.

According to the data released by the Federation of Automobile Dealers Associations (FADA), vehicle retail sales grew by 13.07% in February 2024 compared to the same month last year.

Overall sales for the month of February 2024 stood at 20,29,541 units, compared to 17,94,866 units in February 2023.

Tractor sales increased by 11%, from 69,034 units in February 2023 to 76,626 units last month.

Two-wheeler sales went up by 13.25% to 14,39,523 units from 12,71,073 units in February 2023.

Three-wheeler sales were up by 23.88% in February 2024. 94,918 units were sold, compared to 76,619 units in February 2023.

Passenger vehicle sales went up by 12.36% compared to the previous year. 3,30,107 units were sold last month, compared to 2,93,803 units in February 2023.

Commercial vehicle sales also increased by 4.78%. 88,367 units were sold in February 2024, compared to 84,337 units in the previous year.

Team-BHP's detailed analysis of the February 2024 sales figures.

Mercedes-Benz has come out on top, followed by BMW and Jaguar Land Rover.

FADA has released the vehicle registration data of luxury cars for February 2024.

Mercedes-Benz has come out on top with 1,252 units sold, followed by BMW and Jaguar Land Rover, which have sold 1,040 units and 257 units, respectively.

Luxury carmaker sales for February 2024:

• Mercedes-Benz - 1,252 units, up from 1,162 units in February 2023
• BMW - 1,040 units, up from 666 units in February 2023
• Jaguar Land Rover - 257 units, up from 168 units in February 2023
• Volvo - 165 units, up from 153 units in February 2023
• Audi - 52 units (CBU), down from 156 units in February 2023

Team-BHP's detailed analysis of February 2024 sales figures.

The top 3 positions are occupied by the Maruti WagonR, Tata Punch & Maruti Baleno.

The list of the top 10 best-selling cars in India in February 2024 consists of models from Maruti, Tata, Hyundai & Mahindra.

The top 3 positions are occupied by Maruti & Tata cars (WagonR, Punch & Baleno). The Mahindra Scorpio is in 8th place, while the Hyundai Creta & Tata Nexon are in 7th and 9th place, respectively.

The Maruti Dzire sits in the 4th spot, while the 5th, 6th & 10th positions have been secured by the Brezza, Ertiga & Fronx, respectively.

The top 10 cars sold in February 2024:

1. Maruti WagonR - 19,412
2. Tata Punch - 18,438
3. Maruti Baleno - 17,517
4. Maruti Dzire - 15,837
5. Maruti Brezza - 15,765
6. Maruti Ertiga - 15,519
7. Hyundai Creta - 15,276
8. Mahindra Scorpio - 15,051
9. Tata Nexon - 14,395
10. Maruti Fronx - 14,168

Passenger vehicle sales went up by 13.30% compared to the previous year.

According to the data released by the Federation of Automobile Dealers Associations (FADA), vehicle retail sales grew by 15.03% in January 2024 compared to the same month last year.

Overall sales for the month of January 2024 stood at 21,27,653 units, compared to 18,49,691 units in January 2023.

Tractor sales increased by 21.16%, from 73,184 units in January 2023 to 88,671 units last month.

Two-wheeler sales went up by 14.96% to 14,58,849 units from 12,68,990 units in January 2023.

Three-wheeler sales were up by 36.94% in January 2024. 97,675 units were sold, compared to 71,325 units in January 2023.

Passenger vehicle sales went up by 13.30% compared to the previous year. 3,93,250 units were sold last month, compared to 3,47,086 units in January 2023.

Commercial vehicle sales also increased by 0.11%. 89,208 units were sold in January 2024, compared to 89,106 units in the previous year.

The PV segment achieved all-time high retail sales last month. SUV demand, along with the introduction of new models, greater availability, effective marketing, consumer schemes and the auspicious wedding season, underpinned this strong performance. However, serious concerns remain regarding PV inventory levels, now in the 50-55 day range.

Team-BHP's detailed analysis of the January 2024 sales figures.