INSUBCONTINENT EXCLUSIVE:
4 min read Last Updated : Aug 01 2024 | 11:36 PM IST
Domestic passenger vehicle (PV) wholesales for top carmakers Maruti Suzuki India
(MSIL), Tata Motors, Hyundai Motor India (HMIL), Mahindra - Mahindra (M-M), and Toyota Kirloskar Motor (TKM) fell by 1.6 per cent
year-on-year (Y-o-Y) to 304,381 units in July
This decrease occurred as carmakers had to rationalise dispatches amid high dealer inventories.
Sales for TKM and M-M, however, rose by
42.25 per cent and 15 per cent, respectively, while MSIL, Tata Motors, and HMIL saw declines of 9.6 per cent, 6 per cent, and 3.3 per cent,
137,463 units, down 9.67 per cent
Sales in its utility vehicle segment dropped from 62,049 units in July 2023 to 56,302 units in July 2024, while sales of its mid-sized sedan
Ciaz fell sharply from 1,348 units last July to 603 units this year
The mini segment cars (Alto and S-Presso) remained resilient at 9,960 units, although sales of compact segment cars (Baleno, Celerio, Dzire,
Ignis, Swift, and WagonR) fell by 12.5 per cent.
Tata Motors sold 44,725 units in July, including electric vehicles (EVs), as demand for
fleet cars declined with the discontinuation of the Faster Adoption and Manufacturing of (Hybrid -) Electric Vehicles (FAME) scheme.
Tata
Motors Group Chief Financial Officer P B Balaji noted in a media call after results on Thursday that some degree of slowdown was evident in
both the internal combustion engine and EV segments.
Elevated inventory levels at PV dealerships led to a sharp increase in discounts in
by 3.33 per cent Y-o-Y to 49,013 units in July
units in July compared to 36,205 units last year.
Toyota achieved its highest-ever monthly sales, with domestic sales reaching 29,533
an all-time high, especially in the SUV and MPV (multi-purpose vehicle) segments
sector shifts into high gear
In contrast, two-wheeler sales continued their strong performance with double-digit growth
Among major players, Honda Motorcycle - Scooter India reported domestic sales of 439,118 units, reflecting a 41 per cent Y-o-Y growth,
attributed to network expansion and reaching sales milestones in South India.
Bajaj Auto also saw a 19 per cent increase in sales,
increasing from 235,230 units in July 2023 to 254,250 units in July 2024.
Two-wheeler sales have revived as rural sentiments improve due
to favourable monsoons.First Published: Aug 01 2024 | 7:31 PMIST
