Car Sales Report August 2024 - Hyundai, Tata See Decline For Third Time

A global slowdown of automobile sales has resulted in the piling up of unsold inventory at stockyards in recent months. Even the passenger vehicle (PV) commodity costs have gone up by 20 basis points month on month. Because of these, bestsellers like Maruti and Tata reported a negative sentiment in the month of August, whereas Toyota and Kia had a dream run. 

Maruti Suzuki

Maruti witnessed a 4% year-on-year (YoY) fall in total sales last month, with 1,81,782 units sold compared to 1,89,082 in August 2023. Out of this, PVs accounted for 1,43,075 units for a negative 8% change (1,56,114 in the same month last year). This was the second straight month of decline for the carmaker. Utility Vehicles or UVs, including Grand Vitara and Brezza, was the only sub-segment which occupied a spot in the positive territory. Exports were up by 5.6% at 26,003, compared to 24,614 in the year-ago period. 

Hyundai

Hyundai’s combined August sales reached 63,175 compared to 71,435 units in the same month last year. The domestic market dispatches, however, saw an 8% decline totalling 49,525 units, down from 53,830 units a year ago. Notably, this was its third month in FY 2024-25 with sales under 50,000 units. 

Hyundai India COO Tarun Garg said, “SUVs, led by models like the Creta, Venue and Exter remain a key growth driver for HMIL in 2024 with 66.8% contribution to domestic sales. We are soon going to launch the new 6- and 7-seater SUV, Hyundai Alcazar and are confident of strong festive season response to this new launch."

Tata

In August 2024, Tata sold a combined 71,693 units, a decline from 78,010 units in August 2023. The domestic sales fell by 3% to 44,142, while total PVs sold, including EVs dropped by a similar percentage to 44,486 units. EVs (domestic and international) combined decreased by 5% to 5,935 from 6,236 in the same month last year.

Toyota

The Japanese car manufacturer rode high on a growth of 37% YoY with sales reaching 28,589 from 20,944. It also was Toyota’s second-best monthly performance in this fiscal to date. “As we approach the festive season, demand for our products remains buoyant and we are already witnessing increased consumer interest and higher footfall across all our dealerships,” stated Toyota India Group Head Sabari Manohar. A major chunk of sales was brought in by the likes of the Fortuner, Innova Hycross and Urban Cruiser Hyryder, which reportedly saw greater acceptance in Tier 2 and 3 cities. 

Kia 

Kia registered its best monthly performance in FY25 selling 22,523 units, up 17% YoY from 19,219. Much of the sales went to the new Sonet which was equipped with Advanced Driver Assistance Systems (ADAS) earlier this year. The sub-compact SUV has outsold the larger Seltos throughout this year. “This success reflects our strategic product optimisation, ensuring our vehicles offer exceptional value,” said Hardeep Singh Brar, Senior Vice President, Kia India.

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