The Indian automobile industry experienced significant shifts in December 2024. With notable performances across segments, the market showcased resilience and growth. This article delves into the key highlights, challenges, and trends observed in the month’s sales figures.
Performance of Top Automakers
Maruti Suzuki: Leading the Market
Maruti Suzuki retained its dominant position with an impressive 24% year-on-year (YoY) growth in domestic passenger vehicle (PV) sales. The company sold 1,30,117 units, driven by high demand for models like the Baleno and Brezza.
| Metric | December 2024 | December 2023 | Growth (%) |
|---|---|---|---|
| Domestic PV Sales | 1,30,117 | 1,05,000 | 24% |
| Export Volume | 21,000 | 18,500 | 13.5% |
Mahindra: Strong SUV and Tractor Sales
Mahindra achieved 18% growth in SUV sales, supported by popular models like the XUV700 and Scorpio-N. The company also recorded 22% growth in domestic tractor sales, showcasing its strength in the agricultural segment.
| Segment | December 2024 Sales | Growth (%) |
|---|---|---|
| SUV | 36,000 | 18% |
| Tractors | 25,000 | 22% |
Toyota: Exceptional Growth
Toyota witnessed a robust 29% YoY growth, selling 29,529 units in December 2024. This growth was fueled by the success of hybrid models like the Innova HyCross and the Glanza.
| Metric | December 2024 | December 2023 | Growth (%) |
|---|---|---|---|
| Total Sales | 29,529 | 22,900 | 29% |
Two-Wheeler Market Highlights
Royal Enfield: Riding High
Royal Enfield recorded a 25% increase in total sales. The brand’s new Meteor 450 and Classic 350 models contributed significantly to this growth. Export performance also remained strong.
| Metric | December 2024 | December 2023 | Growth (%) |
|---|---|---|---|
| Domestic Sales | 75,000 | 60,000 | 25% |
| Exports | 12,000 | 9,500 | 26.3% |
Bajaj: Mixed Performance
Bajaj faced challenges with a 19% decline in domestic two-wheeler sales. However, exports grew by 15%, mitigating the overall impact.
| Segment | December 2024 Sales | Growth (%) |
|---|---|---|
| Domestic | 1,00,000 | -19% |
| Exports | 75,000 | 15% |
Challenges Faced by Key Players
Hyundai: Marginal Decline
Hyundai’s domestic PV sales fell by 2.4%, with 46,000 units sold compared to 47,200 units in December 2023. Reduced demand for hatchbacks impacted overall performance.
Honda: Steep Drop
Honda reported a significant 29% decline in sales, selling only 5,000 units. The company’s outdated portfolio and limited new launches affected its market position.
| Automaker | December 2024 Sales | December 2023 Sales | Growth (%) |
|---|---|---|---|
| Hyundai | 46,000 | 47,200 | -2.4% |
| Honda | 5,000 | 7,000 | -29% |
Growth of Electric Vehicles (EVs)
Tata Motors: Leading the EV Segment
Tata Motors recorded a 30% YoY growth in EV sales. The Nexon EV and Tiago EV remained customer favorites, contributing to the company’s dominance in the electric segment.
MG Motors: Impressive EV Surge
MG Motors achieved 55% growth, primarily driven by the launch of its new electric SUV, Windsor. The model’s advanced features and competitive pricing attracted many buyers.
Industry Trends
- Electric and Hybrid Vehicles: The demand for EVs and hybrid models surged, reflecting a shift towards sustainable mobility.
- Festive Boost: December sales benefited from extended festive demand and year-end offers.
- Supply Chain Challenges: Some automakers faced delays in deliveries due to global supply chain issues.
Summary Table: Automaker Performance
| Automaker | December 2024 Sales | Growth (%) | Key Highlights |
|---|---|---|---|
| Maruti Suzuki | 1,30,117 | 24% | High demand for Baleno, Brezza |
| Mahindra | 36,000 (SUVs) | 18% | Strong performance in SUV and tractor sales |
| Toyota | 29,529 | 29% | Success of hybrid models |
| Hyundai | 46,000 | -2.4% | Reduced hatchback demand |
| Honda | 5,000 | -29% | Outdated portfolio |
| Tata Motors (EVs) | 10,700 | 30% | Nexon EV, Tiago EV |
| MG Motors | 8,000 | 55% | Launch of Windsor EV |
Conclusion
The Indian auto industry demonstrated resilience in December 2024. While some manufacturers struggled, others leveraged EVs and innovative products to drive growth. The future looks promising, with sustained focus on electric mobility and customer-centric offerings.
