Published : 28 March 2024
Read Time : 5 min
Author: Prathu Sharma
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 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.
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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.
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Car Brands — 6-Month Brand Sales Trend (Sep 2023 - Feb 2024)
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