Car Retail Sales Aug 2024

Image – Smit Mane

Car Retail Sales in India Decline by 4.53% in August 2024, Maruti and Hyundai See Steep Drops

After taking a look at the wholesales, let us now discuss retail sales of car OEMs in Aug 2024. India’s car retail sales recorded a 4.53% year-on-year (YoY) decline in August 2024, with total sales of 3,09,053 units compared to 3,23,720 units in August 2023. Despite the overall drop, several brands saw growth, while others experienced significant declines.

Car Retail Sales Aug 2024 – Maruti and Hyundai Lead the Decline

Maruti Suzuki, India’s largest carmaker, saw its retail sales fall by 8.48% YoY in August 2024. Maruti sold 1,24,164 units compared to 1,35,675 units in August 2023, marking a decline of 11,511 units. Despite this, Maruti retained a 40.18% share of the total car retail market. Hyundai, the second-largest carmaker, also experienced a significant drop in sales. Hyundai sold 42,091 units in August 2024, down by 6,206 units compared to 48,297 units in August 2023, representing a 12.85% YoY decline. Hyundai held a 13.62% market share for the month.

Car Retail Sales Aug 2024 – YoY Comparison

Tata Motors, another major player, saw a minor decline in retail sales. Tata sold 38,788 units in August 2024, down by 1,066 units from 39,854 units in August 2023, representing a 2.67% YoY decrease. Tata’s market share stood at 12.55%. Kia India also posted a slight decline, with retail sales falling by 2.42% YoY. Kia sold 18,503 units in August 2024, down by 459 units from the previous year, securing a 5.99% share of the market.

Mahindra, however, bucked the trend with an 18.47% YoY growth in August 2024. The company sold 38,493 units, up by 6,002 units compared to August 2023, capturing a 12.46% share of the market. This growth reflects strong demand for Mahindra’s SUVs, particularly models like Scorpio and XUV700. Toyota Kirloskar Motor also posted strong growth, with a 19.81% increase in retail sales. Toyota sold 21,854 units in August 2024, up by 3,614 units from 18,240 units in August 2023, capturing 7.07% of the market.

Car Retail Sales Aug 2024 – MoM Comparison

Skoda VW and Renault Experience Steep Declines

The Skoda VW group saw a sharp decline of 26.25% in August 2024, with sales dropping to 5,902 units, down by 2,101 units from 8,003 units in August 2023. This decline resulted in Skoda VW holding a 1.91% market share. Renault also faced a steep 24.99% YoY decline in retail sales, with 2,990 units sold in August 2024, down by 996 units from August 2023. Renault’s market share fell to 0.97%.

Luxury Brands and Electric Vehicles Post Mixed Results

Among luxury brands, Mercedes-Benz recorded an 11.07% YoY increase in sales, with 1,234 units sold in August 2024, up by 123 units from August 2023. In contrast, BMW saw a decline of 16.95%, with sales dropping to 921 units in August 2024 from 1,109 units the previous year.

Jaguar Land Rover (JLR) posted an impressive 62.17% YoY growth in retail sales. JLR sold 433 units in August 2024, up by 166 units from the 267 units sold in August 2023. Volvo also struggled, with sales dropping by 35.00% YoY. The brand sold 104 units in August 2024, down from 160 units sold in August 2023.

BYD, an electric vehicle (EV) brand, posted the highest growth rate, with retail sales surging by 100.96% YoY. BYD sold 209 units in August 2024, an increase of 105 units compared to August 2023. This reflects the growing demand for electric vehicles in India.

Citroen, another notable player, faced a 22.54% drop in sales. Citroen sold 402 units in August 2024, down by 117 units from 519 units sold in August 2023, accounting for 0.13% of the market. Force Motors also posted positive results, with sales rising by 7.00% YoY. Force Motors sold 749 units in August 2024, up by 49 units from 700 units sold in August 2023. Jeep faced a significant decline in sales, with retail sales dropping by 37.48% YoY. Jeep sold just 327 units in August 2024, down by 196 units from the previous year.

_{Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.}