Car sales were about 3.5 lakh in May 2024 – This was a 4% YoY growth and a 3.5% MoM growth The Indian car market witnessed a modest growth of 4.03% year-on-year in May 2024, with total car sales reaching 3,49,054 units compared to 3,35,531 units in May 2023. Despite challenges, several automakers saw significant sales increases, contributing to the overall positive trend.
Car Sales May 2024 – Maruti Maintains Market Dominance Maruti Suzuki continued to lead the market, selling 1,44,002 units in May 2024, a slight increase of 0.20% from 1,43,708 units in May 2023. This modest growth secured Maruti’s dominant market share of 41.25%, reaffirming its position as the top-selling car manufacturer in India. Next up, Hyundai’s sales increased by 1.13% year-on-year, reaching 49,151 units in May 2024 compared to 48,601 units in May 2023. This growth helped Hyundai maintain a market share of 14.08%.
At no 3, Tata Motors experienced a 1.79% rise in sales, with 46,697 units sold in May 2024 compared to 45,878 units in May 2023. Tata’s market share stood at 13.38% in May 2024. Catching up to Tata, Mahindra emerged as a standout performer with an impressive 31.42% year-on-year growth.
The company sold 43,218 units in May 2024, a substantial increase from 32,886 units in May 2023. This surge boosted Mahindra’s market share to 12.38%. Toyota’s sales rose by 17.39%, from 20,410 units in May 2023 to 23,959 units in May 2024. This notable increase secured Toyota a market share of 6.86%.
Kia recorded a 3.91% increase in sales, selling 19,500 units in May 2024 compared to 18,766 units in the previous year. Kia’s market share in May 2024 was 5.59%. Honda experienced a 3.48% growth in sales, with 4,822 units sold in May 2024 compared to 4,660 units in May 2023. Honda’s market share stood at 1.38%.
MG Motor (Retail) reported a 4.73% decrease in sales, with 4,769 units sold in May 2024 compared to 5,006 units in May 2023. This decline resulted in MG’s market share of 1.37%. Renault’s sales dropped by 19.81%, from 4,625 units in May 2023 to 3,709 units in May 2024, reducing its market share to 1.06%
Volkswagen (VW) experienced a slight decline of 0.40% in sales, with 3,273 units sold in May 2024 compared to 3,286 units in May 2023. VW’s market share was 0.94%. Skoda saw an 18.69% decrease in sales, with 2,884 units sold in May 2024 compared to 3,547 units in May 2023. This decline brought Skoda’s market share to 0.83%.
Nissan experienced a 15.55% decline in sales, with 2,211 units sold in May 2024 compared to 2,618 units in May 2023, resulting in a market share of 0.63%. Citroen’s sales plummeted by 36.10%, with 515 units sold in May 2024 compared to 806 units in May 2023, leading to a market share of 0.15%. Jeep recorded the steepest decline, with sales dropping by 53.13%, from 734 units in May 2023 to 344 units in May 2024. Jeep’s market share was 0.10%.
