Auto sales Aug 2024 Live Updates: Maruti Suzuki, Hyundai, Tata, Royal Enfield report decline in sales (2024)

Sales odf 350cc Royal Enfield motorcycles have declined by 11 percent. In August this year, the Chennai-based bikemaker sold 61,087 units of 350cc bikes, a drop from 69,023 units in August last year. On the other hand, volume above the 350cc segment has seen a rise, from 8,560 units in August 2023 to 12,542 units August this year, resulting in a YoY growth of 47%. The most notable additions in recent times are Shotgun in the 650cc segment and Guerilla in the 450cc category.

Royal Enfield, part of Eicher Motors, has recorded a total a sales volume of 73,629 units in August 2024, including domestic and exports. In August last year, Enfield sold a 77,583 units which translates to a YoY decline of 5 percent. Domestic sales stood at 65,623 units while 8,006 units were exported to foreign market. Domestic sales declined by 5.4 percent whereas exports have declined by 2 percent.

JSW MG Motor India has recorded retail sales of 4571 units in August 2024. This translates into a 9 percent YoY growth. During this period, electric vehicles have contributed to 35 percent of the total volume which includes MG ZS EV and MG Comet. The company is now gearing up for its third EV model in the form of Windsor EV, slated to launch on 11 September 2024.

Hyundai has achieved YTD (Jan-Aug 2024) total sales of 5,13,510 units, resulting in a YOY growth of 2.06 percent. During the same period, SUVs accounted for 66.8% of Hyundai India‘s total domestic volume. The South Korean brand is currently gearing up for the launch of the Alcazar facelift on 9 September 2024.

Hyundai Motor India Limited (HMIL), registered a total sales volume of 63,175 units in August 2024 out which 49,525 units were sold in the domestic market and 13,650 units were shipped to overseas markets. During the same period last year, HMIL recorded a total volume of 71,435 units – 53,830 units were sold in the domestic market whereas 17,605 units were exported.

Partho Banerjee, head of sales and marketing at Maruti Suzuki clarified that Maruti will, “maintain inventory levels at current levels ahead of the festive seasons, we are calibrating inventory levels to match market levels and demand.”

Partho Banerjee, head of sales and marketing at Maruti Suzuki detailed the sales trend and highligted that “Hybrid sales contributed about 15-16% of overall sales; and the company is seeing MoM increase in hybrid share.”

Three-wheelers registered sales of 12,747 units in August 2024 as against 13,738 units in August 2023.

TVS Motor Company recorded total monthly two-wheeler sales of 378,841 units in August 2024 with a YoY growth of 14% as against 332,110 units sold in August last year. Domestic two-wheeler registered YoY growth of 13% with sales increasing from 256,619 units in August 2023 to 289,073 units in August 2024.

Motorcycle sales registered a YoY growth of 11% with sales increasing from 153,047 units in August last year to 170,486 units in August this year. Scooter registered a growth of 15% with sales increasing from 142,502 units in August 2023 to 163,629 units in August 2024.

Tata Motors has reported a total domestic sales of 44,486 for the passenger vehicle segment in August 2024. This resulted in a 3 percent YoY decline. During the same period last year, Tata Motors recorded a volume of 45,513 units. Only 344 units were exported last month, a drop of 18% from the same period last year.

Tata Motors sold a 5,935 units of electric cars in August this year as compared to 6,236 units sold in August last year. This translates to a YoY decline of 5 percent.

Toyota reopened the bookings in August for the Innova Hycross ZX & ZX (O) models, available in both self-charging strong hybrid electric (SHEV) and gasoline variants. With streamlined production and an enhanced supply chain, Toyota has successfully reduced the waiting period, allowing it to commence bookings for the top-end grades.

Commenting on the strong sales performance, Sabari Manohar – Vice President, Sales-Service-Used Car Business, Toyota Kirloskar Motor said, “As we approach the festive season, demand for our products remain buoyant, and we are already witnessing increased consumer interest and higher footfall across all our dealerships. SUVs and MPVs continue to significantly contribute to our sales numbers, reflecting a growing preference for these segment vehicles.”

Toyota Kirloskar Motor (TKM) reported a wholesale of 30,879 units in August 2024. In August 2023, TKM had sold 22,910 units. This resulted in a 35% YoY growth. Total domestic sales stood at 28,589 units while exports accounted for 2290 units.

Additionally, the first eight months of thr CY2024 reported a 45% growth over the same period last year. From January- August 2024, the company sold 2,12,785 units while CY 2023 recorded sales of 1,47,192 units.

Kia reported 22,523 units of domestic sales in India for the month August 2024. This resulted in a 17.19% Y-o-Y growth compared to the 19,219 units sold in the corresponding month of the last year.

The Sonet was the highest-selling model for Kia in August recording a volume of 10,073 units. It was followed by the Seltos with a volume of 6,536 units during the same period while Carens reported a monthly volume of 5,881 units. The Korean carmaker sold 33 units of EV6 which comes to India as a fully-imported CBU model.

In August 2024, Maruti Suzuki India Limited sold a total of 181,782 units. Total sales in the month include domestic sales of 145,570 units, sales to other OEM of 10,209 units and exports of 26,003 units.

The small car segment which comprises models like Alto, S-Presso, Baleno, Celerio, Dzire, Ignis, Swift, WagonR registered a volume of 68,699 units, whereas utility vehicles like Brezza, Grand Vitara, Fronx, Ertiga, XL6, and Jimny registered 62,684 units.

The Indian auto industry is currently experiencing a high inventory of passenger vehicles, with some dealers struggling to sell their stocks. As of August 2024, the inventory of passenger vehicles in India is worth ₹73,000 crore, and the inventory levels are at a record high of 67-72 days.

In July 2024, passenger vehicle sales in India declined by 2.5% year-on-year to 3,41,510 units. This decline is due to high inventory levels and lower-than-expected demand from consumers. Companies have reduced sales to check high inventory levels with dealers.