Auto Sales October 2024: TATA Motors, Mahindra, Maruti Suzuki, Hyundai, Toyota and MG Motor

Auto sector October 2024 data released by the companies showed mixed performance in October, with several companies reporting significant growth while others faced some challenges. The festival season brought varying results across different segments. The SUVs are still dominating the market share, and electric vehicles are making their place in the market.

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Tata Motors

In October 2024, Tata Motors achieved total passenger vehicle deliveries of 48,423 units. The company's domestic market performance reached 48,131 units, while international shipments were only 292 units, which is a YOY decrease of 3%. The company's electric vehicle segment recorded 5,355 units, including exports, showing a minor 2% reduction compared to the last year. Passenger and commercial vehicle sales combined reached 82,682 units, slightly below last year's figure of 82,954 units.

Mahindra & Mahindra

The automotive giant Mahindra & Mahindra recorded overall sales of 96,648 units in all segments, including overseas shipments and commercial vehicles. M&M domestic passenger vehicle division showed strong performance with 54,504 units, achieving a 25% increase YOY. The company's SUV segment, including international markets, sales was 55,571 units. Year-to-date figures revealed good growth of 22%, with total sales of 314,714 units compared to 258,622 units in the previous year.

Maruti Suzuki

Setting a new benchmark, Maruti Suzuki reported its highest monthly sales volume at 206,434 units. The company's domestic passenger vehicle segment registered 159,591 units, representing a 5% decline from last year's 168,047 units. Export performance strengthened significantly, with 33,168 units shipped overseas, up from 21,951 units in the previous year. The April-October period saw total domestic passenger vehicle sales of 1,004,205 units, indicating a 3% reduction compared to the same timeframe last year.

Hyundai

Hyundai's total sales reached 70,078 units in October 2024, reflecting a 2% annual growth. Domestic market performance showed marginal improvement, with 55,568 units sold, slightly above last year's 55,128 units. The company's export division delivered 14,510 units, marking a 6.7% increase year-over-year. SUVs dominated the company's sales mix at 68.2%, while CNG vehicles contributed 14.9% to total sales.

Toyota

Toyota demonstrated strong market momentum with total sales of 30,845 units in October 2024, achieving a remarkable 41% growth year-over-year. The breakdown shows 28,138 units in domestic sales and 2,707 units in exports. The company's performance in the first seven months of the fiscal year reached 193,468 units, representing a 33% increase over the previous year.

MG Motor

MG Motor India's in October 2024 sold 7,045 units, which showed a slight improvement, which is a 31% increase from the last year. MG Windsor EV model performed really well and act as a key contributor as its 3,116 units sold. The company's EV portfolio continued to dominate its sales mix, accounting for 70% of total deliveries.

Conclusion

Auto sales October 2024 shows the emerging dynamics of India's auto market, with variable performance across companies. While some brands encountered good growth, others experienced challenges in sales. It is pretty much evident that the demand for electric vehicles and SUVs among the public is increasing in the automotive sector. This reflects the industry's shift in the trend of consumer preference as well as the evolution of the industry toward sustainable mobility solutions.

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