Car Sales Q3 2024 – Maruti, Hyundai, Mahindra, Tata, Toyota, Kia, Honda, MG, VW, Renault

Mahindra XUV 3XO

While the Indian car market saw a slight overall decline in Q3 2024, brands like Mahindra, Toyota, Kia, and Citroen managed to post strong growth

The third quarter of 2024 has shown mixed results for car manufacturers in India, with overall sales dipping by 1.75% compared to Q3 2023. A total of 10,56,179 units were sold in Q3 2024, down by 18,835 units from the 10,75,014 units sold in the same period last year.

Car Sales Q3 2024 – Top 6 brands have 94% market share

Maruti, the dominant player in the market, experienced a 7.31% decline in sales, with 4,25,500 units sold in Q3 2024 compared to 4,59,052 units in Q3 2023. Despite this drop, Maruti retains the largest market share with over 40%. Hyundai, the second-largest carmaker, saw its sales fall by 5.75%, selling 1,49,639 units this quarter compared to 1,58,772 units in Q3 2023. The drop in sales slightly impacted its market presence, though Hyundai remains a major player.

Car Sales Q3 2024

Mahindra posted one of the strongest performances, with sales growing by 18.49% year-on-year (YoY). The brand sold 1,35,962 units in Q3 2024, up from 1,14,742 units in the same period last year. Thanks to this, Mahindra has overtaken Tata Motors in sales. Tata Motors experienced a slight decline in sales, down by 5.84%. The company sold 1,29,934 units in Q3 2024, compared to 1,37,995 units in Q3 2023. Despite the dip, Tata remains one of the top performers in the Indian automotive market.

Toyota emerged as the top growth performer, with a significant 28.21% increase in sales, rising from 63,897 units in Q3 2023 to 81,924 units in Q3 2024. Toyota’s sales surge was driven by the popularity of its SUV and hybrid models. Kia also showed positive growth, with sales increasing by 12.34%, from 59,243 units in Q3 2023 to 66,553 units this quarter. Kia’s consistent performance in the SUV segment has bolstered its presence in the Indian market.

Car Sales Q3 2024

Brands with less than 16k sales in Q3 2024

Honda, however, faced a sharp 30.88% drop in sales, with only 15,625 units sold in Q3 2024 compared to 22,605 units in Q3 2023. The decline highlights Honda’s struggles in the Indian market this year. MG Motor recorded a 3.30% decline in sales, selling 13,731 units in Q3 2024, down from 14,200 units in the previous year.

Volkswagen (VW) saw a 10.19% drop in sales, with 10,378 units sold in Q3 2024 compared to 11,556 units last year. Similarly, Renault faced a 14.53% decline, selling 9,067 units compared to 10,609 units in Q3 2023. Skoda experienced one of the steepest declines, with sales dropping by 34.78%. The company sold 8,183 units in Q3 2024, down from 12,546 units in Q3 2023.

Nissan also saw a 7.04% drop in sales, with 6,381 units sold in Q3 2024 compared to 6,864 units last year. Citroen, on the other hand, posted the highest YoY growth, with sales jumping by 35.57%. Citroen sold 2,321 units in Q3 2024, up from 1,712 units in Q3 2023, showing the brand’s growing traction in the Indian market. Lastly, Jeep faced a decline of 19.66%, with sales dropping to 981 units in Q3 2024, compared to 1,221 units in the previous year.

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