Total vehicle sales crossed 22 lakh including PVs, 2Ws, 3Ws, CVs, etc – Motor vehicle road tax collection was at Rs 7,528 crores for April 2024
The passenger vehicle (PV) segment in India has seen an outstanding 15.94% YoY growth in April 2024 while MoM sales also improved by 3.96% to 3,35,123 units. Data as released by Federation of Automobile Dealers Associations (FADA), shows that Maruti Suzuki, Hyundai and Tata continued their reign as 3 best-selling car brands in April 2024 with a combined market share of 68%.
PV Retail Sales April 2024 – Maruti leads
Not only the PV segment, it was across segments that sales improved in April 2024 with 2W sales up 33%, 3W by 9% while tractor and CV segments also showed marginal 1% and 2% sales growth respectively. Motor vehicle road tax collection was at Rs 7,528 crores for April 2024.
While most brands reported a YoY growth it was cars in the more exclusive segment that have experienced a YoY decline. Total retail sales stood at 3,35,123 units in the past month, up from 2,89,056 units sold in April 2023. These sales were also higher on a MoM basis when compared to 3,22,345 units sold in March 2024.
Maruti Suzuki commanded the segment with 1,36,915 units sold last month, more than the combined sales of Hyundai, Tata and Mahindra to command a 40.86% market share. Strong demand was seen across the company’s utility vehicle segment which includes models such as the Brezza, Grand Vitara, Invicto and Ertiga.
Hyundai led over Tata Motors by 2,120 units. The company continued at a No. 2 position, a spot it had lost to Tata Motors in February 2024 but retained in March 2024, with 48,050 unit retail sales in April 2024. Hyundai currently commands a 14.34% market share and it is the Creta, Venue and Exter SUVs that boost sales each month. The Creta, a leader in the compact SUV segment, which received a facelift in January this year, averages around 15,000 units each month.
At No. 3 was Tata Motors with 45,930 unit sales last month from 41,990 units sold in April 2023. The company is actively testing the Nexon iCNG, which once launched will be the first CNG car in the Indian market to sport a turbo-petrol engine.
Mahindra retail sales also improved YoY to 36,775 units while Kia Motors sales went up to 19,114 units in April 2024. Toyota also saw a significant YoY growth in retail sales to 18,999 units. However, Skoda VW suffered a de-growth with 6,462 unit retail sales in the past month from 7,033 units sold in the same month last year. Retail sales of Honda Cars went up to 6,069 units. However, MG Motors (4,058 units), Renault India (4,012 units) and Nissan (2,200 units) each suffered a YoY de-growth.
PV Retail Sales in Luxury Segment in April 2024
In the luxury segment, it was Mercedes that saw increased retail sales at 1,522 units in April 2024 while BMW sales also increased substantially to 1,185 units from 923 units sold in April 2023. Force Motors sales were up to 777 units last month.
Lower down the list, Citroen (515 units), Jeep (368 units), Volvo (139 units), BYD India (138 units) each suffered a YoY decline in retail sales. JLR, on the other hand, saw its retail sales grow to 256 units from 170 units on a YoY basis. There were others in this list that contributed 1,639 units to total retail sales last month, a YoY decline from 2,598 units sold in April 2023.
