According to data collected by Rushlain, the Indian car industry saw an increase of 1.8% on an annual basis, sales reached 3,97,947 units in October 2023 as compared to 3,90,853 units. MOM sales also increased from 3,58,879 units sold in September 2024 to 10.9%. Among the biggest players, the players were Mahindra, Toyota and MG Motor, while Maruti Suzuki and Kia saw a decline year-on-year decline.
Manage 5 Manufacturers via Future-On-Future (Yoy) Expantion
Toyota: Leading in year-on-year increase, Toyota recorded a 37% increase, sold 28,138 units in October 2024, while the figure was around 20,550 units a year ago. With this, the company’s market share has increased to 7.1%.
Mahindra: With the reduction in the price of strong sales and XUV700 of its recently launched Thar Roxx, Mahindra achieved an annual increase of 24.7% with the sale of 54,504 units. With this, the company’s market share is at 13.7%.
MG Motor: MG Motor saw an increase of 37.9% on an annual basis, recording an increase in double digits. The company recorded its best sales so far with the sale of 7,045 units. This increase was mainly promoted by the launch of Windsor EV, which became the most selling model of MG as well as MG’s best -selling model.
Volkswagen: Volkswagen saw a slight increase of 9% year-on-year, sales reached 4,458 units. With this, its market share increased by 0.1%.
Hyundai: Hyundai continued its steady climb, sales rose 0.8% to 55,568 units on an annual basis. This increase in collaboration with good MOM performance has helped the brand to maintain a solid market share of 14%.
Manage 5 Manufacturers via Future-On-Future (MOM) Expantion
Mg Motor: MG Motor witnessed a tremendous growth of 53.6% in September 2024 from 4,588 units in September 2024 and led the market. The popularity of Windsor EV contributed the most to this spike.
SKODA: Skoda improved MOM sales of 23.6% in October 2024 with sales of 4,079 units. This increase reflects the good efforts of the brand to grab the market attention with new offers and updates.
Toyota: Toyota finished second with 18.2% MOM, with a 28,138 units of sales. This effect appears to be the competitive price of the brand and the announcements of the upcoming model.
Tata Motors: Tata Motors saw an increase of 17.2% MOM and sold 48,133 units. Although there was a slight decline of 0.4% in sales year-on-year, the month-by-month growth kept Tata competitive with 12.1% market share.
Jeep: Despite a decline year-over, the jeep saw an increase of 16.2% MOM. Its 424 units sold, mainly due to the tremendous promotion given by the company.
Well-known manufacturers evaluation
While Maruti Suzuki remains a market leading with sales of 1,59,591 units in October, it faced a 5% decline annually due to high inventory and competition. Hyundai and Mahindra are continuously following Maruti Suzuki with the lead of Mahindra. Tata Motors saw a slight decline from year to year but its performance based on MOM was good. On the other hand, the KIA and Honda faced a major decline in both year-on-year and MOM, which reflects the challenges going on in the market.
