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Strong Growth in Passenger VehiclesStrong Growth in Passenger Vehicles

Overall Performance

Indian auto companies have shown robust performance in February 2024, marking a positive start to the year. February 2024 witnessed the highest-ever sales volume for the month.

Passenger Vehicle Sales Surge

The sale of passenger vehicles surged to 3,73,177 units in February 2024, marking an 11.3% year-on-year growth compared to February 2023’s 3,35,324 units.

Maruti Suzuki Leads

Maruti Suzuki retained its position as the market leader, with sales reaching 1,60,271 vehicles in February 2024, reflecting an 8.7% growth compared to February 2023’s 1,47,467 units.

Tata Motors’ Rise

Tata Motors surpassed Hyundai to become the second-largest company in the passenger vehicle segment. It reported sales of 51,267 vehicles in February 2024, showing a substantial 19.6% growth from the previous year.

Hyundai’s Growth

Hyundai reported sales of 50,201 vehicles in February 2024, marking a 6.8% year-on-year growth compared to February 2023’s 47,001 units.

Mahindra and Mahindra’s Surge

Mahindra and Mahindra witnessed a significant surge in sales, recording a 39.7% increase from 30,358 vehicles in February 2023 to 42,401 vehicles in February 2024.

Toyota’s Growth

Toyota secured the fifth position with sales of 23,300 vehicles in February 2024, marking a notable 51.9% growth from February 2023’s 15,338 units.

MG Motor India’s Performance

MG Motor India reported a modest 8% growth in sales, from 4,193 vehicles in February 2023 to 4,532 vehicles in February 2024.

Two-Wheeler Segment Records Strong Growth

Overall Performance

The two-wheeler segment also witnessed significant growth, with sales surging from 10,68,015 vehicles in February 2023 to 14,48,479 vehicles in February 2024, reflecting a remarkable growth of over 35%.

Hero Emerges as Market Leader

Hero emerged as the market leader in the two-wheeler segment, with sales reaching 4,45,257 vehicles in February 2024, compared to 3,82,317 vehicles in February 2023.