As we roll into to August 2024, carmakers are reporting their sales numbers for July 2024 today. Carmakers such as Maruti Suzuki, Tata Motors, MG, Kia, Hyundai, and Mahindra will release sales data today, while two-wheeler manufacturers will also be sharing numbers.
Maruti Suzuki’s Q1 profit has already shown the company’s profit is up by 47 percent, with CNG cars gaining momentum. For Maruti Suzuki, one in every three cars sold is a CNG vehicle, while the Jimny was the highest exported vehicle last month.
So far, Maruti Suzuki has reported a decrease in sales, along with Hyundai and Tata Motors. Mahindra, Bajaj, Honda and Suzuki have posted positive growth in July 2024. Tomorrow, Honda Car India, Royal Enfield, Nissan, and others are yet to disclose numbers.
July 2024 car sales live updates
In July 2024, Hyundai has seen a 3 percent decline in overall sales compared to July 2023. Last month, the carmaker sold 49,013 units in the domestic market, witnessing a 3.3 percent decline in YoY sales, while it’s exports accounted for 15,500 units, which also saw a 3.1 percent decline.
Tata Motors is gearing up for a big launch in a few days, as the Curvv will compete directly against the Hyundai Creta, the best-seller in the segment and for Hyundai. Here’s a quick look at how the two compare in terms of features.
Features comparison: Why Tata Curvv has an edge over Hyundai Creta
Tata Motors‘ domestic commercial vehicle sales registered sales of 25,436 units in July 2024, witnessing a 19 percent decline. During the same period last year, Tata’s domestic CV sales regitered sales of 31,216 units.
Tata Motors, one of the biggest OEMs in the industry has reported a 6 percent decline in domestic PV sales. Tata sold 44,725 units in July 2024 as compared to selling 47,628 units in July 2023.
Commenting on the strong performance, Sabari Manohar – Vice President, Sales-Service-Used Car Business, Toyota Kirloskar Motor said, “Demand for all our models remains at an all-time high, especially in the SUV and MPV segments. Our formidable presence in these categories, with models like the Innova Crysta, Innova Hycross, Urban Cruiser Hyryder, Rumion, Taisor, Fortuner, Legender, Hilux, and the LC 300, offers robust choices to customers. In addition, our diverse lineup, including the Glanza, Camry Hybrid, and Vellfire, is strategically designed to cater to the evolving and varied needs of our customers, reflecting our commitment to delivering vehicles that align with their preferences and lifestyles.”
During the first seven months of 2024, Toyota‘s sales stood at 1,81,906 units, which is a YoY growth of 46 percent compared to the first seven months of CY23, when the carmaker registered sales of 1,24,282 units.
Toyota has been witnessing strong performance and in July 2024, the Japanese carmaker has registered sales of 31,656 units. For Toyota, domestic sales accounted for 29,533 units while exports stood at to 2,123 units.
During Q1FY25, Mahindra‘s net profit saw a 20 percent growth at Rs 3,283 crore from last year’s Rs 2,745 crore during the same period. Mahindra’s Q1FY25 revenue also saw an increase of 10 percent, while its SUV range delivered strong performance.
EVs are gaining popularity, but they are also witnessing a decline globally. While no OEM has revealed EV sales numbers yet, they are contributing towards a large chunk of sales. Also, why are EV owners looking to switch back to ICE engines? Here’s more.
Cracks in EV bubble: 51% EV owners want to switch to ICE vehicles
While sales have been strong for some and weak for others, upcoming vehicle launches can turn tables. Tata Motors will be launching its mid-size SUV, the Curvv in a few days, while Citroen will also be launching the Basalt. Mahindra has the Thar Roxx scheduled for August 15 while MG also has plans for a new CUV.
So far, Bajaj and Maruti Suzuki have reported positive growth in terms of sales, while MG has reported a decline. There are more numbers to come, so stay tuned.
MG India has registered sales of 4572 units in July 2024, as compared to selling 5,012 units in July 2023, an 8.7 percent decrease in YoY sales. For the company, its NEV portfolio accounted for more than 35 percent of overall sales in July 2024.
Last month, Escorts Kubota exported 423 tractors as compared to exporting 409 units in July 2023, registering a YoY growth of 3.4 percent. The company’s overall tractor sales, including exports, stood at 5,769 units in July 2024.
Escorts Kubota has reported sales of 5,346 units in the domestic market in July 2024, witnessing a YoY growth of 3.6 percent. During the same period in July 2023, the company sold 5,161 tractors in India.
For the Pune-based automaker, its commercial vehicles sales included 42,150 units sold in the domestic market and 14,478 units exported. Both, domestic and exports of CVs saw a positive growth of 13 percent and 6 percent, respectively.
Last month, Bajaj sold a total of 56,628 commercial vehicles, which includes domestic sales and exports. When compared to July 2023, Bajaj’s CV sales saw a 11 percent growth.
For Bajaj, its two-wheeler exports have seen a flat growth of 1 percent in July 2024, having shipped 1,28,694 units as compared to 1,26,850 units exported in July 2023.
Bajaj has reported total domestic sales of 1,68,847 two-wheelers in July 2024, a growth of 19 percent compared to July 2023, when the company sold 1,41,990 units in the domestic market.
During Q1FY25, Maruti Suzuki sold a total of 5,21,868 vehicles compared to 4,98,030 units sold during the same period last year, a gorwth of 5 percent.
Maruti Suzuki has reported its Q1FY25 net profit has gone up 47 percent, and that one in three cars sold are CNG models. For Maruti Suzuki, the net sales in the first quarter came in at Rs 33875.3 crore, up 9.8% YoY from Rs 30845.2 crore in Q1FY24.
Good morning everyone. Four and two-wheeler OEMs will be reporting their sales figures today and stay tuned for all the live updates. Has the industry seen a growth, or has the monsoon rains hampered growth for carmakers? Stay tuned for all the details.