The Indian auto industry displayed a mixed performance in November 2024, with some manufacturers reporting significant growth while others faced challenges. This month marked the end of the festive season, traditionally a critical time for auto sales. Here’s a detailed overview of the sales figures from key players in the market.
Maruti Suzuki
Maruti Suzuki India Limited (MSIL) led the market with total sales of 181,531 units in November 2024. This includes 144,238 units sold domestically, 8,660 units sold to other OEMs, and 28,633 units exported. This performance reflects a 10.4% year-on-year growth compared to 164,439 units sold in November 2023.
- Domestic Sales: 144,238 units
- Sales to Other OEMs: 8,660 units
- Exports: 28,633 units
- Year-on-Year Growth: 10.4%
The increase in exports was particularly noteworthy, showing a rise of 24.76%, driven by strong international demand.
Hyundai Motor India
Hyundai Motor India Limited (HMIL) reported total sales of 61,252 units in November 2024, which marks a decline of 6.9% year-on-year from 65,801 units in November 2023. Domestic sales fell by 2.4%, totaling 48,246 units, while exports dropped significantly by 20.5% to 13,006 units.
- Total Sales: 61,252 units
- Domestic Sales: 48,246 units
- Exports: 13,006 units
- Year-on-Year Decline: 6.9%
Despite the overall decline, SUVs contributed significantly to domestic sales at 68.8%, and the company achieved its highest-ever rural contribution at 22.1%.
JSW MG Motor India
JSW MG Motor India reported a strong performance with total wholesales reaching 6,019 units, reflecting a robust growth of 20% year-on-year compared to the same month last year.
- Total Sales: 6,019 units
- Growth Rate: 20%
The electric crossover Windsor was a key driver of this growth, selling 3,144 units, and new energy vehicles (NEVs) accounted for an impressive 70% of total monthly sales.
Escorts Kubota
Escorts Kubota faced challenges in November 2024, with total sales declining by 9.4% year-on-year, totaling 8,974 units. Domestic tractor sales were down by 8.1%, amounting to 8,730 units, and exports shrank by a significant 39.5% to just 244 units.
- Total Sales: 8,974 units
- Domestic Tractor Sales: 8,730 units
- Exports: 244 units
- Year-on-Year Decline: 9.4%
Despite this decline for November alone, Escorts Kubota reported a rise in tractor sales during the festive months from September to November.
Toyota Kirloskar Motor
Toyota Kirloskar Motor India experienced substantial growth with total sales reaching 25,586 units, marking an impressive increase of 44% year-on-year from last year’s figure of 17,818 units.
- Total Sales: 25,586 units
- Year-on-Year Growth: 44%
This surge was primarily driven by strong demand for Toyota’s SUVs and marked another successful month for the automaker in India.
Tata Motors
Tata Motors reported stable performance with total sales of 74,753 units, slightly above estimates of 74,200 units. This represents a marginal increase of 0.8% year-on-year compared to last November’s figures.
- Total Sales: 74,753 units
- Domestic Sales: 73,246 units
- Year-on-Year Growth: 0.8%
However, the commercial vehicle segment saw a slight decline of about 1%, totaling approximately 26,183 units.
TVS Motor Company
TVS Motor Company had a robust month in November 2024 with total sales reaching approximately 401,000 units, surpassing market estimates of around 387,000 units—a notable increase of about 10.2% year-on-year.
- Total Sales: 401,000 units
- Two-Wheeler Sales Growth: 12%
- Electric Vehicle Sales Growth: 57%
The company’s electric vehicle segment saw significant growth as consumer demand for sustainable mobility continues to rise. The mixed performance across these major automakers highlights varying trends within the Indian auto industry as it adapts to changing consumer preferences and economic conditions. As the year progresses into December and beyond, it will be interesting to see how these trends evolve and impact overall market dynamics.
Disclaimer: This article is for informational purposes only and does not constitute financial advice or predictions regarding auto sales performance. Readers should conduct their own research or consult industry experts before making any assumptions about market trends or company performance.
