Vehicle sales pick up pace in January, dominance of Maruti-Mahindra and Tata continues
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Mumbai/New Delhi: The year 2024 is expected to be better for the automobile industry sector. The reason for this is that the sales of vehicles have gained momentum in the beginning of this year, January 2024. Especially in terms of sales of passenger vehicles, domestic automobile manufacturers Maruti, Mahindra and Tata continue to dominate the market. The biggest thing is that vehicle manufacturing companies have sold more vehicles in January 2024 than in December 2023. According to the data released by the companies regarding vehicle sales on Thursday, the sales of Maruti Suzuki India, Tata Motors, Hyundai Motor India, Mahindra & Mahindra, Bajaj Auto and Honda Motorcycle & Scooter India in January were more than the year before. Has increased in comparison.
Maruti sales increase by more than 15 percent
Maruti Suzuki was successful in achieving its record sales figure in the month of January. The company’s total vehicle sales increased by 15.5 percent to 1,99,364 units in January, compared to 1,72,535 units in the same month last year. This was its highest sales ever on a monthly basis. Maruti Suzuki’s total domestic sales increased by 13 percent to 1,70,214 units from 1,51,367 units in the same month a year ago.
Tata Motors sold 84,276 vehicles
Domestic vehicle manufacturer Tata Motors sold 84,276 units domestically last month, whereas in January 2023 this figure was 79,681 units. Its total vehicle sales increased by six percent on an annual basis to 86,125 units. According to the statement issued by Tata Motors, sales of the company’s commercial vehicles fell by two percent to 32,090 units in the month under review, which was 32,780 units in January 2023. The company’s total passenger vehicle sales, including SUVs, increased by 12 percent last month to 53,633 units, which was 47,987 units in January 2023.
Mahindra sold 73,944 vehicles
Mahindra & Mahindra’s total vehicle sales in January increased by 15 percent on an annual basis to 73,944 units. The company had sold 43,068 vehicles in January 2023. According to the statement issued by Mahindra, domestic sales of commercial vehicles increased by eight percent in the month under review to 23,481 units, which was 21,724 units in January 2023. The statement said that total domestic sales of three-wheelers, including electric three-wheelers, declined by 14 percent year-on-year to 5,649 units. It was 6,562 units in January last year.
Hyundai sales increased by 8.5 percent
Hyundai Motor India’s wholesale vehicle sales in January stood at 67,615 units with an increase of 8.5 percent year-on-year. The company’s domestic sales increased by 14 percent year-on-year to 57,115 units, which was 50,106 units in January 2023. However, exports of Hyundai vehicles declined by 14 percent to 10,500 units in January, compared to 12,170 units in January last year. Tarun Garg, Chief Operating Officer (COO), Hyundai Motor India, said in a statement that this strong growth has been driven by the overwhelming customer response to the recently launched Hyundai Creta. The new model of Hyundai Creta has received around 50,000 bookings in the first month.
Ashok Leyland sales decline seven percent
Total sales of Hinduja Group’s flagship company Ashok Leyland declined by seven percent to 15,939 units in January. The company had sold 17,200 units in January 2023. According to a statement issued by Ashok Leyland, the company’s total MHCV (medium and heavy commercial vehicles) sales declined by eight percent to 14,899 units in January, which was 16,198 units in January last year. According to the statement, light commercial vehicle (LCV) sales declined by seven percent to 5,721 units. In January, 2023 it was 6,150 units.
41.50 percent increase in sales of Honda bikes
Meanwhile, in the two-wheeler segment, Honda Motorcycle & Scooter India’s total sales increased by 41.50 percent to 4,19,395 units in January. During this period, domestic sales increased by 37 percent to 3,82,512 units. Sales of leading motorcycle manufacturer Royal Enfield increased by a marginal two percent to 76,187 units in January. In the same month last year, the company had sold a total of 74,746 vehicles.
Hero MotoCorp sales increase by 22 percent
Vehicle sales of two-wheeler manufacturer Hero MotoCorp increased by 22 percent to 4,33,598 units in January. In January last year, the company’s vehicle sales were 3,56,690 units. The company said in the statement that domestic sales increased by 20 percent to 4,20,934 units in January, compared to 3,49,437 units in the same month last year.
TVS sales increased by 23 percent
TVS Motor’s vehicle sales increased by 23 percent in January to 339,513 units. The company’s vehicle sales in January last year totaled 2,75,115 units. The company said in the statement that a 25 percent increase was recorded in the sales of two-wheelers. Sales increased from 2,64,710 units in January, 2023 to 329,937 units in January, 2024. Of these, domestic sales last month were 2,68,233 units with a jump of 24 percent. Motorcycle sales in the two-wheeler segment increased by 29 percent to 1,55,611 units last month from 1,21,042 units in January 2023. Sales in the scooter segment increased by 24 percent to 1,32,290 units in January, compared to 1,06,537 units in the same month last year. The company said that its electric vehicle sales in January stood at 16,276 units, an increase of 34 percent year-on-year. The company’s total exports have increased by 22 percent.
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