Major car makers led by Maruti Suzuki end 2024 with better sales in December

However, some companies including Hyundai Motor India, Honda Cars India and Nissan India could not match the sales as compared to the same month previous year.

Market leader Maruti Suzuki India (MSIL) reported domestic wholesales (dispatches to dealers) of 1,30,117 units during the month, which was a growth of more than 24 per cent YoY as compared with 1,04,778 units in December 2023. On retail sales, the company said it has recorded a highest-ever monthly sales of 2,52,692 units during the month and the company has a network stock of just nine days. “As on today, we have only nine days of stock because we did very good retail of more than 2.52 lakh vehicles in December. This is the highest-ever sales in any month in the history of Maruti Suzuki. In calendar year also, we did highest-ever sales of 17,90,877 units as compared to 17,42,680 vehicles in December 2023. Earlier, the highest was in 2018 when we sold 17,51,990 vehicles,” Partho Banerjee, Senior Executive Officer, Marketing & Sales, MSIL, told businessline.

Overall, the passenger vehicle (PV) segment is estimated to have grown by 4.5-4.7 per cent in the 2024 calendar year to around 43-lakh units as compared to 41,09,000 lakh units in 2023, Banerjee added. Similarly, Mahindra & Mahindra (M&M) reported a growth of 18 per cent YoY by selling 41,424 vehicles during the month as compared to 35,174 units in December 2023.

Toyota Kirloskar Motor’s (TKM) domestic sales grew by 16.44 per cent YoY to 24,887 units in December as against 21,372 units in the corresponding month previous year

JSW MG Motor India also said it has achieved a YoY growth of 55 per cent in December 2024 wholesales by selling 7,516 units as compared with 4,848 units in December 2023.

‘Nexon’ maker Tata Motors reported a growth of 2 per cent YoY at 44,230 during last month as compared with 43,470 units in December 2023. “In the third quarter of FY25, the industry saw a strong revival, driven by increased retails in the festive season. Looking ahead, we remain optimistic about the outlook for the PV industry. With multiple product launches, innovations and a strengthened multi-powertrain strategy, Tata Motors is well poised for further growth in CY2025,” Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, said.

However, companies like Hyundai Motor India (HMIL), Honda Cars India and Nissan India reported decline in their sales on YoY basis. HMIL reported a decline of 1.3 per cent YoY to 42,208 units in December as against 42,750 in December 2023. Honda Cars India reported 29 per cent YoY decline in December domestic sales to 5,603 units against 7,902 units in December 2023.