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New Delhi. Wholesale sales of passenger vehicles in India reached a record of more than 42 lakh units in the financial year 2023-24. During this period, a huge jump was seen in the sales of sports utility vehicles (SUV). Due to record sales of car companies including Maruti Suzuki India, Hyundai Motor India and Tata Motors, manufacturers shipped a total of 42.3 lakh vehicles to dealers in the last financial year. This figure is nine percent more than 38.9 lakh units for the financial year 2022-23.
The share of sports utility vehicles in the wholesale sales of total passenger vehicles increased to 50.4 percent in the last financial year compared to 43 percent in 2022-23. Total sales of Maruti Suzuki India (MSI) increased by 10 percent to 1,87,196 units in March this year. In the same month last year, the company had sold 1,70,071 vehicles. Maruti Suzuki India said in the statement that in the financial year 2023-24, the company recorded the highest annual domestic sales of 17,93,644 units. Apart from this, a record of 2,83,067 units were exported. With this, the company crossed the total annual sales figure of 20 lakh units during the last financial year.
Maruti Suzuki said that its total domestic sales in March stood at 1,61,304 units, whereas in the same month a year ago this figure was 1,39,952 units. Tata Motors’ total domestic wholesale sales in March increased by two percent to 90,822 units. In the same month a year ago, the company had sold 89,351 units in the domestic market.
According to the company, sales of passenger vehicles including electric vehicles in the domestic market stood at 50,297 units in March. This is 14 percent more than 44,225 units in the same period last year. The total commercial vehicle supply in the domestic market last month stood at 40,712 units, which is 10 percent less as compared to the figure of 45,307 in March 2023.
According to the company, the total wholesale sales in the domestic market in the financial year ending March 31, 2024 stood at 9,49,015 units, which is two percent more than 9,31,957 units in 2022-23. Sales of passenger vehicles in the last financial year stood at 5,73,495 units, which is six percent more than 5,41,087 units in the financial year 2022-23.
Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles, said, ‘The company’s passenger vehicles (including EVs) have achieved wholesale sales of 5,73,495 units in FY 2023-24 (six percent more than FY 2023) and FY 2022. Recorded the highest sales for the third consecutive year with retail sales almost 10 percent higher than in -23.
Hyundai Motor India’s total sales in March increased by seven percent year-on-year to 65,601 units. The company had sold 61,500 vehicles in March 2023. Hyundai Motor India Limited (HMIL) said that its domestic wholesale sales increased by five percent last month to 53,001 units. It was 50,600 units in the same month a year ago.
Exports increased by 16 percent to 12,600 units in March, compared to 10,900 units in the same period a year ago. The company recorded its highest ever sales of 7,77,876 units in the financial year 2023-24, which is eight percent more than 7,20,565 units in the financial year 2022-23. Exports increased by seven percent to 1,63,155 units as compared to 1,53,019 units in the financial year 2022-23.
Hyundai Motor India Chief Operating Officer (COO) Tarun Garg said that the sale of 7.77 lakh units in the financial year 2023-24 is a proof of the acceptance of the company’s diverse products. Domestic vehicle manufacturer Mahindra & Mahindra’s total sales in March increased by four percent to 68,413 units. Releasing sales figures for February, the company said it had sold 66,041 units in the same period a year ago.
According to the statement, sales of its passenger vehicles in the domestic market increased by 13 percent to 40,631 units last month, compared to 35,997 units in March last year. In the financial year 2023-24, the automobile manufacturer’s wholesale sales of passenger vehicles increased by 28 percent to 4,59,877 units. In the financial year 2022-23 it was 3,59,253 units.
Mahindra & Mahindra President (Automotive Division) Vijay Nakra said, ‘We ended the financial year 2023-24 on a positive note.’ Automobile manufacturer Toyota Kirloskar Motor has recorded the highest ever monthly wholesales in March with sales of 27,180 units.
Releasing the wholesale sales figures for March on Monday, the company said that its supply increased by 25 percent to 22,910 units last month. In the same period a year ago, it had sold 21,783 vehicles. For the financial year 2023-24, the company recorded the highest ever wholesale sales of 2,63,512 units, which shows a growth of 48 percent as compared to 1,77,683 units in 2022-23.
Sabri Manohar, vice president (sales, service, used vehicle business), Toyota Kirloskar Motor, said, ‘We are very happy with the sales of 2,63,512 units in the financial year 2023-24 and 27,180 units in March 2024.’
He said that we will continue to work to meet the increasing consumer demand in various sectors. Honda Cars India Limited (HCIL) said that wholesale sales increased by six percent to 7,071 units in March. HCIL said in a statement that the company had shipped 6,692 units to the domestic market in March 2023. In the month under review, the company’s exports doubled to 6,860 units.
Kunal Bahl, Vice President (Marketing and Sales), Honda Cars India, said that 2023-24 has been an important year for the company and the company has strengthened its position in the SUV segment. At the same time, MG Motor India’s retail sales in March declined by 23 percent on an annual basis to 4,648 units. The motor vehicle manufacturer had sold 6,051 units in March 2023. According to the statement, the company’s sales increased by about 14 percent on an annual basis in the financial year 2023-24. However, he did not share the figures related to this.
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Tag: auto news, car
first published : April 2, 2024, 8:18 pm IST
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