Car Sales Q3 2024 – Maruti, Hyundai, Mahindra, Tata, Toyota,

While the Indian car market overall declined slightly in Q3 2024, brands such as Mahindra, Toyota, Kia and Citroen posted strong growth

In the third quarter of 2024, the results of Indian automakers were mixed, with overall sales falling by 1.75% compared to the third quarter of 2023. A total of 10,56,179 units were sold in the third quarter of 2024, a decrease of 18,835 units from 10,75,014 units sold in the same period last year.

Car sales in the third quarter of 2024 – six major brands account for 94% of the market share

Market leader Maruti’s sales fell by 7.31%, with sales of 4,25,500 units in Q3 2024 as compared to 4,59,052 units in Q3 2023. Despite this, Maruti still maintains the largest market share with over 40% market share. Second-largest automaker Hyundai Motor’s sales fell 5.75% in the quarter, with sales of 1,49,639 units as compared to 1,58,772 units in the third quarter of 2023. Although Hyundai remains a major player, lower sales have slightly impacted its market share.

Mahindra was one of the strongest performers, with sales rising 18.49% year-on-year. The brand sold 1,35,962 units in the third quarter of 2024, up from 1,14,742 units in the same period last year. Thanks to this, Mahindra’s sales exceeded Tata Motors. Tata Motors sales fell slightly, down 5.84%. The company sold 1,29,934 units in the third quarter of 2024, as compared to 1,37,995 units in the third quarter of 2023. Despite the decline in sales, Tata remains one of the top performers in the Indian auto market.

Toyota became the fastest growing company, with sales increasing significantly by 28.21%, from 63,897 vehicles in the third quarter of 2023 to 81,924 vehicles in the third quarter of 2024. Toyota’s sales surge has been driven by the popularity of its SUVs and hybrid models. Kia also showed positive growth, with sales increasing by 12.34%, from 59,243 vehicles in the third quarter of 2023 to 66,553 vehicles in the current quarter. Kia’s continued performance in the SUV segment has strengthened its position in the Indian market.

Brands with sales below 16,000 units in the third quarter of 2024

However, Honda’s sales dropped significantly by 30.88%, with sales in the third quarter of 2024 being only 15,625 vehicles, compared with 22,605 vehicles in the third quarter of 2023. The decline highlights Honda’s struggles in the Indian market this year. MG Motor’s sales in the third quarter of 2024 fell by 3.30%, with sales of 13,731 vehicles, down from 14,200 vehicles in the same period last year.

Volkswagen (VW) sold 10,378 vehicles in the third quarter of 2024, a decrease of 10.19% from 11,556 vehicles in the same period last year. Similarly, Renault sales fell by 14.53%, with sales of 9,067 units compared to 10,609 units sold in the third quarter of 2023. Skoda was one of the cars with the biggest decline, with sales down 34.78%. The company sold 8,183 vehicles in the third quarter of 2024, down from 12,546 vehicles in the third quarter of 2023.

Nissan’s sales also fell by 7.04%, with sales in the third quarter of 2024 reaching 6,381 vehicles compared with 6,864 vehicles last year. Citroën had the highest year-on-year growth, with sales soaring 35.57%. Citroën sold 2,321 units in the third quarter of 2024, up from 1,712 units in the third quarter of 2023, indicating the brand’s growing appeal in the Indian market. Finally, Jeep faced a 19.66% decline, with sales falling to 981 units in the third quarter of 2024 compared to 1,221 units in the previous year.