In accordance with knowledge compiled by Rushlane, the Indian automobile business noticed a 1.8% year-on-year progress, with gross sales reaching 3,97,947 items in October 2023 in comparison with 3,90,853 items. MoM gross sales additionally elevated by 10.9% from 3,58,879 items bought in September 2024. Among the many largest gamers, Mahindra, Toyota and MG Motor have been among the many gamers, whereas Maruti Suzuki and Kia noticed a year-on-year decline.
Prime 5 Manufacturers by 12 months-on-12 months (YoY) Development
Toyota: Main the year-on-year progress, Toyota recorded 37% progress, promoting 28,138 items in October 2024, in comparison with round 20,550 items a yr in the past. With this the corporate’s market share has elevated to 7.1%.
Mahindra: With sturdy gross sales of its not too long ago launched Thar Roxx and worth minimize of XUV700, Mahindra achieved 24.7% YoY progress with gross sales of 54,504 items. With this the corporate’s market share is at 13.7%.
MG Motor: Registering double-digit progress, MG Motor witnessed 37.9% YoY progress. The corporate recorded its finest ever gross sales with gross sales of seven,045 items. This progress was primarily pushed by the launch of the Windsor EV, which turned MG’s best-selling mannequin since its launch.
Volkswagen: Volkswagen noticed a modest progress of 9% year-on-year, with gross sales reaching 4,458 items. With this its market share elevated by 0.1%.
Hyundai: Hyundai continued its regular climb, with gross sales up 0.8% year-on-year to 55,568 items. This progress coupled with good MoM efficiency has helped the model keep a stable market share of 14%.
Prime 5 Manufacturers by Month-on-Month (MoM) Development
MG Motor: In MoM progress, MG Motor witnessed a large progress of 53.6% at 4,588 items in September 2024 and led the market. The recognition of the Windsor EV contributed essentially the most to this spike.
Skoda: Skoda improved MoM gross sales by 23.6% with gross sales of 4,079 items in October 2024. This enhance displays the model’s good efforts to seize the market’s consideration with new affords and updates.
Toyota: Toyota stood second with 18.2% MoM progress with gross sales of 28,138 items. This seems to be the influence of the model’s aggressive pricing and bulletins of upcoming fashions.
Tata Motors: Tata Motors witnessed 17.2% MoM progress and bought 48,133 items. Though gross sales declined marginally by 0.4% year-on-year, the month-on-month progress saved Tata aggressive with a 12.1% market share.
Jeep: Regardless of YoY decline, Jeep noticed 16.2% MoM progress. Its 424 items have been bought, primarily as a result of super promotions given by the corporate.
Main Manufacturers Overview
Whereas Maruti Suzuki continues to steer the market with gross sales of 1,59,591 items in October, it suffered a 5% YoY decline as a result of excessive stock and competitors. With Mahindra’s lead, Hyundai and Mahindra are constantly lagging behind Maruti Suzuki. Tata Motors noticed a slight decline year-on-year however on MoM foundation its efficiency was good. Alternatively, Kia and Honda confronted massive declines in each YoY and MoM place, reflecting the continued challenges out there.
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