passenger vehicles in india Wholesale sales of the company stood at a record of more than 42 lakh units in the financial year 2023-24. During this period, a strong jump was seen in the sales of sports utility vehicles (SUVs). Record sales from car companies including Maruti Suzuki India, Hyundai Motor India and Tata Motors led manufacturers to ship a total of 42.3 lakh vehicles to dealers last financial year. This figure is nine percent more than 38.9 lakh units for the financial year 2022-23.
SUV share crossed 50%
The share of sports utility vehicles in total passenger vehicle wholesales increased to 50.4 percent in the last financial year compared to 43 percent in 2022-23. Maruti Suzuki India’s (MSI) total sales increased by 10 per cent to 1,87,196 units in March this year. In the same month last year, the company had sold 1,70,071 vehicles. Maruti Suzuki India said in the statement that the company recorded the highest annual domestic sales of 17,93,644 units in the financial year 2023-24. Apart from this, a record of 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. Maruti Suzuki said that its total domestic sales in March stood at 1,61,304 units, while the figure was 1,39,952 units in the same month a year ago.
Slight increase in Tata Motors sales
Tata Motors’ total domestic wholesale sales in March increased by two percent to 90,822 units. In the same month a year ago, the company had sold 89,351 units in the domestic market. 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. Total commercial vehicle supplies in the domestic market last month stood at 40,712 units, which is 10 percent less than the figure of 45,307 units 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. Sales of passenger vehicles in the last financial year stood at 5,73,495 units, which is six percent more than 5,41,087 units in the financial year 2022-23.
Good demand for Hyundai motor vehicles
Hyundai Motor India’s total sales in March increased by seven percent year-on-year to 65,601 units. The company had sold 61,500 vehicles in March 2023. Hyundai Motor India Limited (HMIL) said its domestic wholesales grew by five percent at 53,001 units last month. This was 50,600 units in the same month a year ago. Exports rose 16 percent to 12,600 units in March, compared to 10,900 units in the same period a year ago. The company recorded its highest ever sales of 7,77,876 units in FY 2023-24, which is eight percent higher than 7,20,565 units in FY 2022-23. Exports increased by seven percent to 1,63,155 units as compared to 1,53,019 units in the financial year 2022-23.
Mahindra sales increased by 4 percent
Domestic vehicle manufacturer Mahindra & Mahindra’s total sales in March increased by four percent to 68,413 units. Releasing sales figures for February, the company said it had sold 66,041 units in the same period a year ago. According to the statement, its passenger vehicles sales in the domestic market increased by 13 per cent to 40,631 units last month as against 35,997 units in March last year. In the financial year 2023-24, the automobile manufacturer’s wholesale sales of passenger vehicles increased by 28 percent to 4,59,877 units. In the financial year 2022-23 it was 3,59,253 units.
Honda cars sales increased by six percent
Honda Cars India Limited (HCIL) said wholesale sales increased six percent to 7,071 units in March. HCIL said in a statement that the company had shipped 6,692 units in the domestic market in March 2023. The company’s exports doubled to 6,860 units in the month under review. Kunal Bahl, Vice President (Marketing and Sales), Honda Cars India, said that 2023-24 has been an important year for the company and the company has strengthened its position in the SUV segment.
MG Motor India’s retail sales in March declined 23 percent year-on-year to 4,648 units. The motor vehicle manufacturer had sold 6,051 units in March 2023. According to the statement, the company’s sales increased by about 14 percent on an annual basis in the financial year 2023-24. However, he did not share the figures related to this.
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