The domestic passenger vehicle (PV) wholesale (dispatches to dealers) in July saw major companies including Maruti Suzuki India (MSIL), Hyundai Motor India (HMIL) and Tata Motors reporting negative sales as compared to the same month last year.
Market leader MSIL’s domestic sales declined by around 10 per cent year-on-year to 1,37,463 units in July as compared with 1,52,126 units in July 2023.
‘Creta’ maker HMIL’s domestic sales declined by 3.33 per cent y-o-y to 49,013 units during last month as compared to 50,701 units in the corresponding month last year.
“We have posted an overall sales growth of 4.31 per cent y-o-y in the period of January to July. SUVs continue to demonstrate a robust contribution, accounting for 66.6 per cent of total HMIL domestic sales.
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The new Hyundai Creta achieved key milestones of one-Lakh unit sales till July, while also achieving highest ever-monthly domestic sales of 17,350 units in July 2024,” Tarun Garg, Whole-time Director and Chief Operating Officer, HMIL said.
Tata Motors’ sales declined by 6 per cent y-o-y to 44,725 units in July as against 47,628 units in the same month previous year.
Similarly, domestic sales of Honda Cars India and JSW MG Motor India declined by 5 per cent and 10 per cent y-o-y, respectively.
Homegrown M&M grows
However, homegrown firm, Mahindra & Mahindra’s domestic wholesale grew by 15 per cent y-o-y to 41,623 units in July as compared with 36,205 units in the same month last year.
Toyota Kirloskar Motor (TKM) also reported a growth of 42 per cent y-o-y to 29,533 units during the month as compared with 20,759 units in the corresponding month last year.
“Demand for all our models remains at an all-time high, especially in the SUV and multi-purpose vehicle 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,” Sabari Manohar, Vice President, Sales-Service-Used Car Business, TKM said.
In the two-wheeler segment, except, Royal Enfield, all other manufacturers reported positive sales during the month.
For instance, number one scooter maker, Honda Motorcycle & Scooter India (HMSI) reported domestic wholesale of 4,39,118 units in July, which is a jump of 41.25 per cent y-o-y against 3,10,867 units in July 2023.
Tamil Nadu-based TVS Motor Company also reported a growth of 8 per cent y-o-y to 2,54,250 units in July as compared with 2,35,230 units in the same month last year.
‘Pulsar’ maker Bajaj Auto said it sold 1,68,847 units of motorcycles during the month, a growth of 19 per cent y-o-y as compared with 1,41,990 units in July 2023.
Hero MotoCorp sold 3,47,535 units in July 2024 as compared to 3,71,204 units in July 2023 marking a fall of 6.37 per cent.
Suzuki Motorcycle India reported double digit growth during the month.
In the commercial vehicles segment, companies including Ashok Leyland, M&M and Tata Motors reported decline in sales in July on y-o-y basis.