Maruti beats Hyundai and Hero beats Honda, sells record breaking cars in January
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Auto Sales: In January 2024, the country’s car manufacturing giant Maruti Suzuki has set a record in the sales of passenger vehicles, beating South Korean company Hyundai Motor. At the same time, in the two-wheeler segment, Hero has sold the maximum number of vehicles, beating Honda. According to data released by the Society of Indian Automobile Manufacturers (SIAM), an organization of automobile companies, Maruti sold 1,66,802 units of passenger vehicles in January. At the same time, Hyundai Motor India had to be satisfied with selling 57,115 units.
Domestic passenger vehicle sales increased by 14 percent
According to data released by SIAM for January 2024, wholesale sales of domestic passenger vehicles increased by 14 percent year-on-year in January to 3,93,074 units. This is the highest sales figure recorded so far in January. However, wholesale sales in January 2023 were 3,46,080 units.
26 percent increase in sales of two-wheelers
According to SIAM data, wholesale sales of two-wheelers in January stood at 14,95,183 units, an increase of 26 percent on an annual basis. Wholesale sales in January 2023 were 11,84,376 units. SIAM President Vinod Aggarwal said that passenger vehicle sales remain strong amid positive attitude of consumers. The two-wheeler segment witnessed good growth in January and the rural market continues to improve.
9 percent increase in sales of three wheelers
He said that although there was no growth in the commercial vehicle sector in January 2024, there is a possibility of good demand in the next two months of the current financial year. Wholesale sales of three-wheelers increased by nine percent to 53,537 units in January, while it was 48,903 units in January 2023. SIAM Director General Rajesh Menon said that the highest ever sales of passenger vehicles and three-wheelers were recorded in the period from April to January in the financial year 2023-24.
Maruti made record breaking sales
According to SIAM, Maruti Suzuki India recorded wholesale sales of 1,66,802 units in January 2024, up from 1,47,348 units in January 2023. At the same time, Hyundai Motor India sold 57,115 units, whereas in the same month of 2023, this number was 50,106 units. Mahindra & Mahindra’s wholesale sales increased from 33,040 units in January 2023 to 43,068 units last month.
Hero sold more than 3.89 lakh motorcycles
In the motorcycle segment, Hero MotoCorp sold 3,89,752 units in the domestic market last month, whereas in the year-ago period this figure was 3,26,467 units. Honda Motorcycle & Scooter India sold 1,83,638 units last month compared to 1,27,912 units in January 2023. SIAM said Bajaj Auto Ltd sold 1,78,056 motorcycles last month, while the figure was 1,38,860 units in January 2023. There was also a strong increase in scooter sales. Honda Motorcycle and Scooter India sold 1,98,874 units, which was 1,50,243 units in January last year.
TVS sold more than 1.24 billion bikes
On the other hand, TVS Motor Company also registered a strong growth of 1,24,664 units last month compared to 1,00,354 units in January 2023. Suzuki Motorcycle India’s wholesale sales also increased to 78,477 units from 65,991 units last year. Vinod Aggarwal said that the government’s focus in the budget for the financial year 2024-25 is on the transport system, which includes strengthening the electric vehicle environment, especially charging infrastructure and public transport.
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