Around 3.21 Lakh passenger cars were sold in the Indian market in December 2024. Sales increased by 11% over December last year and dropped by 8.6% compared to December 2024.
December is usually a good month for both automakers and customers citing year-end offers and model-year change. Demand spurt is traditionally caused by deal seekers and customers opting for an exchange. The offers are best in the year and go up to several lakhs for stock liquidation. The overall Wholesales was at a double-digit growth YoY and the industry closed on a high note. Near to 43 Lakh dispatches was recorded in CY2024 and was largely contributed by growth in SUVs and increased demand in rural markets. The stock situation at the dealerships has been largely corrected and the Industry is now bound to start at a positive note in CY2025.
Tata Motors ranked up the ladder and secured the second spot by ousting Hyundai by over 2k units. The race between 2nd, 3rd & 4th spot is now all more exciting than ever! All three OEMs (Hyundai, Tata & Mahindra) are at each other's tail to move up the ladder in the rankings.
Maruti Suzuki recorded one of the highest YoY volume growth and the highest Market Share increase in December 2024. The OEM achieved notable growth across all its segments, including hatchbacks, utility vehicles, and vans, while the mid-size sedan segment showed a slight decline.
Tata Motors registered a growth of 1.7% YoY, while its volumes declined by 6% vs November 2024. It anyhow ranked second in the table with Market Share of 13.8%.
Hyundai slipped to the 3rd position and recorded dispatches of 42,208 units. Hyundai also recorded its highest-ever yearly domestic sales in CY2024 with wholesales of 6,05,433 units!
Mahindra continued its steady performance and was able to cross 40k mark yet again in Dec'24.