The launch of new models, especially in the SUV segment, has boosted passenger vehicle sales, while two-wheeler sales have increased on the back of higher rural incomes, according to auto executives.
Demand for commercial vehicles has also increased, reflecting the higher level of economic activity taking place in the economy. This increases the demand for commercial vehicles to transport goods in both the agricultural and industrial sectors.
Leading manufacturer Tata Motors' domestic and international sales of commercial vehicles in June 2024 were 15,224 units as against 14,770 units in June 2023; while in Q1FY25 it stood at 41,974 units, as against 36,577 units in Q1FY24.
Girish Wagh, CEO, Tata Motors Ltd, said, “Tata Motors Commercial Vehicles domestic sales at 87,615 units in Q1 FY25 were 7 per cent higher than Q1 FY24 sales. Additionally, sales in June 2024 were 3 percent higher compared to May 2024.”
Leading automaker Maruti Suzuki reported a 3 per cent year-on-year rise in domestic passenger vehicle sales to 137,160 units in June 2024, up from 133,027 units in June 2023. The market leader's sales for the quarter April to June rose 1.2 percent to 419,114 units.
Maruti Suzuki's arch-rival Hyundai has also seen a surge in sales driven by the SUV segment. “We closed the first half of calendar year 2024 with overall sales growth of 5.68 percent year-on-year. SUVs have contributed strongly, accounting for 66 percent of our domestic sales. The new Hyundai CRETA has been a key driver for domestic sales in the first half, with 91,348 units sold, up 11 per cent from the same period last year,” said Tarun Garg, chief operating officer, Hyundai Motor India Ltd.
Likewise, Mahindra & Mahindra sold 40,022 vehicles in the domestic market in the SUV segment, a growth of 23 per cent and in total, 40,644 vehicles, including exports. National sales of Commercial Vehicles stood at 20,594.
According to Veejay Nakra, President, Automotive Division, M&M Ltd, “We sold a total of 40,022 SUVs in June, a growth of 23 percent and 69,397 vehicles in total, a growth of 11 percent over last year. June has been a momentous month as we launched the 200,000th XUV700 at our facility. We also celebrate 25 years of Bolero Pik-Ups, category creator and market leader in the light commercial vehicle segment.”
With the revival of demand in rural areas, sales of two-wheelers have increased. Motorcycle maker Bajaj Auto recorded a 7 per cent rise in domestic two-wheeler sales in June at 1,77,207 units, up from 1,66,292 units a year ago. For the April-June period, it also recorded a 7 per cent rise in domestic sales at 582,497 units, up from 542,931 units in the first quarter of FY24.
Honda Motorcycle & Scooter India sales stood at 518,799 units, representing a year-on-year growth of 60 per cent. This includes domestic sales of 482,597 units and exports of 36,202 units.
TVS Motor Company recorded monthly sales of 3,33,646 units in June 2024, up 5 percent year-on-year. Its two-wheeler sales recorded a growth of 6 per cent from 304,401 units in June 2023 to 322,168 units in June 2024.
Demand for commercial vehicles has also increased, reflecting the higher level of economic activity taking place in the economy. This increases the demand for commercial vehicles to transport goods in both the agricultural and industrial sectors.
Leading manufacturer Tata Motors' domestic and international sales of commercial vehicles in June 2024 were 15,224 units as against 14,770 units in June 2023; while in Q1FY25 it stood at 41,974 units, as against 36,577 units in Q1FY24.
Girish Wagh, CEO, Tata Motors Ltd, said, “Tata Motors Commercial Vehicles domestic sales at 87,615 units in Q1 FY25 were 7 per cent higher than Q1 FY24 sales. Additionally, sales in June 2024 were 3 percent higher compared to May 2024.”
Leading automaker Maruti Suzuki reported a 3 per cent year-on-year rise in domestic passenger vehicle sales to 137,160 units in June 2024, up from 133,027 units in June 2023. The market leader's sales for the quarter April to June rose 1.2 percent to 419,114 units.
Maruti Suzuki's arch-rival Hyundai has also seen a surge in sales driven by the SUV segment. “We closed the first half of calendar year 2024 with overall sales growth of 5.68 percent year-on-year. SUVs have contributed strongly, accounting for 66 percent of our domestic sales. The new Hyundai CRETA has been a key driver for domestic sales in the first half, with 91,348 units sold, up 11 per cent from the same period last year,” said Tarun Garg, chief operating officer, Hyundai Motor India Ltd.
Likewise, Mahindra & Mahindra sold 40,022 vehicles in the domestic market in the SUV segment, a growth of 23 per cent and in total, 40,644 vehicles, including exports. National sales of Commercial Vehicles stood at 20,594.
According to Veejay Nakra, President, Automotive Division, M&M Ltd, “We sold a total of 40,022 SUVs in June, a growth of 23 percent and 69,397 vehicles in total, a growth of 11 percent over last year. June has been a momentous month as we launched the 200,000th XUV700 at our facility. We also celebrate 25 years of Bolero Pik-Ups, category creator and market leader in the light commercial vehicle segment.”
With the revival of demand in rural areas, sales of two-wheelers have increased. Motorcycle maker Bajaj Auto recorded a 7 per cent rise in domestic two-wheeler sales in June at 1,77,207 units, up from 1,66,292 units a year ago. For the April-June period, it also recorded a 7 per cent rise in domestic sales at 582,497 units, up from 542,931 units in the first quarter of FY24.
Honda Motorcycle & Scooter India sales stood at 518,799 units, representing a year-on-year growth of 60 per cent. This includes domestic sales of 482,597 units and exports of 36,202 units.
TVS Motor Company recorded monthly sales of 3,33,646 units in June 2024, up 5 percent year-on-year. Its two-wheeler sales recorded a growth of 6 per cent from 304,401 units in June 2023 to 322,168 units in June 2024.
