New Delhi [India], July 1 : India's automotive sector experienced mixed fortunes in June 2024, with Maruti Suzuki and Mahindra & Mahindra (M&M) reporting growth, while Hyundai Motor India Limited (HMIL) saw a slight dip in their sales figures.
Maruti Suzuki reported a year-on-year sales increase for June 2024. The company sold 1,79,228 vehicles in June, up from 1,59,418 units in the same month of the previous year.
This translates to a growth rate of 12.4 per cent. The company's total sales for the first quarter of FY 2024-25 (April to June) also saw a substantial rise, reaching 5,21,868 units compared to 4,98,030 units in the corresponding period of the previous fiscal year, marking a growth of 4.8 per cent.
This continuous upward trajectory highlights Maruti Suzuki's resilience and robust market presence.
Mahindra & Mahindra Ltd. (M&M), reported an 11 per cent increase in overall auto sales for June 2024, with total sales of 69,397 vehicles, including exports.
The company experienced substantial growth in the Utility Vehicles (UV) segment, selling 40,022 vehicles in the domestic marketa 23 per cent increase compared to the previous year.
The total sales for UVs, including exports, stood at 40,644 vehicles. Domestic sales for commercial vehicles also remained robust, with 20,594 units sold.
Veejay Nakra, President of the Automotive Division at M&M Ltd., expressed satisfaction with the company's performance, stating, "We sold a total of 40,022 SUVs in June, a growth of 23 per cent and 69,397 total vehicles, a 11 per cent growth over last year. June has been a momentous month, as we rolled out the 200,000th XUV700 from our facility. We also celebrated 25 years of Bolero Pik-Ups, a category creator and a market leader in the LCV segment."
Hyundai Motor India Limited (HMIL) experienced a marginal decline in sales for June 2024, with total sales of 64,803 units, comprising 50,103 domestic units and 14,700 units for export.
This slight dip follows a successful first half (H1) of 2024, during which the company achieved a 5.68 per cent year-on-year growth in overall sales, totaling 3,85,772 units.
Tarun Garg, COO of HMIL, highlighted the company's achievements, stating"We closed H1 of CY2024 with an overall sales growth of 5.68 per cent Year-on-Year. SUVs have contributed strongly, accounting for 66 per cent of our domestic sales. The new Hyundai CRETA has been a key driver for Domestic H1 sales with 91,348 units sold, a growth of 11 per cent over same period last year."
The mixed sales figures for June 2024 highlight the dynamic nature of India's automotive market.
While Maruti Suzuki and M&M's robust growth demonstrates the resilience and adaptability of these companies, Hyundai's slight decline underscores the competitive pressures and shifting consumer preferences in the market.
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