Top-Selling Brands In India - February 2024 Car Sales Analysis - YoY, MoM Change, 6-Month Trend | V3Cars

In this February 2024 car sales analysis article, we’ll look at the manufacturer-wise sales figures along with the YoY and MoM change for each carmaker in India. We’ll also include our observations based on the sales data and possible reasons behind a massive increase or drop in sales where applicable. Lastly, the table with monthly sales for the last 6 months will give you an idea about the 6-month sales trend of car sales for all manufacturers.

Brand-Wise

Brand-Wise February 2024 Car Sales - YoY Change

  • Top Gainers:
    • Toyota showed the highest percentage increase in sales with a 52.62% growth, selling 8,033 more units in February 2024 compared to February 2023.
    • Maruti Nexa and Mahindra both exhibited strong growth of over 40%, with Maruti Nexa selling 14,269 more units and Mahindra selling 12,180 more units YoY.
    • Tata also had a significant increase of 19.61%, adding 8,405 units over the previous year.
  • Top Losers:
    • Jeep faced the steepest decline in sales with a -53.96% change, selling 388 fewer units compared to the same month last year.
    • Renault saw a substantial decrease of -38.33%, with sales dropping by 2,536 units YoY.
    • Skoda experienced a -34.06% decline, translating to 1,164 fewer cars sold.
  • Stable Performers:
    • Maruti Suzuki, despite being the top seller in volume, saw a slight decrease of -1.31% in sales.
    • Hyundai and Honda showed moderate growth of 6.88% and 17.35% respectively.

These insights indicate a dynamic shift in consumer preferences, with some brands significantly improving their market share while others face challenges. The data suggests a competitive market where brands like Toyota and Maruti Nexa are capitalizing on opportunities to expand their customer base.

BRAND-WISE FEBRUARY 2024 CAR SALES

YOY CHANGE

Brand

Feb 2024

Feb 2023

Change

% Change

Trend

Maruti Suzuki

1,10,579

1,12,043

-1,464

-1.31%

Tata

51,270

42,865

8,405

19.61%

Hyundai

50,201

46,968

3,233

6.88%

Maruti Nexa

49,693

35,424

14,269

40.28%

Mahindra

42,401

30,221

12,180

40.30%

Toyota

23,300

15,267

8,033

52.62%

Kia

20,200

24,600

-4,400

-17.89%

Honda

7,142

6,086

1,056

17.35%

MG

4,532

4,193

339

8.08%

Renault

4,080

6,616

-2,536

-38.33%

Volkswagen

3,019

3,313

-294

-8.87%

Nissan

2,755

2,184

571

26.14%

Skoda

2,254

3,418

-1,164

-34.06%

Citroen

421

328

93

28.35%

Jeep

331

719

-388

-53.96%

Brand-Wise February 2024 Car Sales - MoM Change

  • Top Gainers:
    • MG exhibited the highest growth with an 18.48% increase, selling 707 more units compared to January 2024.
    • Renault also saw a positive change, with a 6.64% increase and 254 more units sold.
  • Top Losers:
    • Honda faced the most significant drop with a -17.73% decrease, translating to 1,539 fewer units sold than the previous month.
    • Kia also experienced a notable decline of -15.02%, selling 3,569 fewer units.
  • Stable Performers:
    • Toyota showed a slight improvement with a 0.44% increase, selling 103 more units MoM.
    • Mahindra remained relatively stable with a minor decrease of -1.55%.

These observations indicate a dynamic market with varying performance among brands. MG and Renault managed to increase their sales, while Honda and Kia saw a downturn in their MoM sales figures. Toyota and Mahindra maintained a steady market presence. The data reflects the fluctuating consumer demand and the competitive nature of the car industry.

BRAND-WISE FEBRUARY 2024 CAR SALES

MoM CHANGE

Brand

Feb 2024

Jan 2024

Change

% Change

Trend

Maruti Suzuki

1,10,579

1,12,604

-2,025

-1.80%

Tata

51,270

53,635

-2,365

-4.41%

Hyundai

50,201

57,115

-6,914

-12.11%

Maruti Nexa

49,693

54,198

-4,505

-8.31%

Mahindra

42,401

43,068

-667

-1.55%

Toyota

23,300

23,197

103

0.44%

Kia

20,200

23,769

-3,569

-15.02%

Honda

7,142

8,681

-1,539

-17.73%

MG

4,532

3,825

707

18.48%

Renault

4,080

3,826

254

6.64%

Volkswagen

3,019

3,267

-248

-7.59%

Nissan

2,755

2,863

-108

-3.77%

Skoda

2,254

2,377

-123

-5.17%

Citroen

421

650

-229

-35.23%

Jeep

331

396

-65

-16.41%

Car Brands — 6-Month Brand Sales Trend (Sep 2023 - Feb 2024)

BRAND-WISE 6 MONTH SALES TREND

SEP 2023 - FEB 2024

BRAND

Sep 2023

Oct 2023

Nov 2023

Dec 2023

Jan 2024

Feb 2024

6 Month Avg

Maruti Suzuki

1,12,905

1,12,043

1,01,736

96,654

97,115

88,565

1,01,503

Hyundai

50,106

46,968

50,600

49,701

48,601

50,001

49,330

Tata

47,990

42,865

44,047

47,010

45,880

47,240

45,839

Maruti Nexa

34,443

35,424

31,027

40,684

46,593

41,391

38,260

Mahindra

33,040

30,221

35,976

34,694

32,883

32,585

33,233

Kia

28,634

24,600

21,501

23,216

18,766

19,391

22,685

Toyota

12,728

15,267

18,582

14,162

19,379

18,237

16,393

Honda

7,821

6,086

6,692

5,313

4,660

5,080

5,942

Renault

3,008

6,616

5,389

4,323

4,625

5,450

4,902

MG

4,114

4,193

6,411

4,551

5,006

3,941

4,703

Skoda

3,818

3,418

4,432

4,009

3,547

3,966

3,865

Volkswagen

2,906

3,313

3,900

3,032

3,286

3,394

3,305

Nissan

2,803

2,184

3,260

2,617

2,618

2,552

2,672

Citroen

804

328

2,015

1,003

806

1,003

993

Jeep

685

719

680

558

734

493

645

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ABOUT THE AUTHOR

Prathu Sharma

Engineer by upbringing, artist by passion, motorhead because, why not! Likes to know about everything related to technology, switches between american muscle and german innovation depending on the day. Wants to own 69' Mustang Mach 1 and to drive BMW M3 87'someday.

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