February 2024 Cars Sales Analysis - MPV YoY, MoM Change, 6-Month Trend | V3Cars

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

mpv

MPV Segment February 2024 Car Sales - YoY Change

  • Top Gainers:
    • Maruti Suzuki Ertiga has seen a remarkable increase of 139.79%, indicating a surge in popularity or possibly the introduction of new variants or updates that have been well-received by the market.
    • Toyota Innova Crysta/HyCross also shows a significant growth of 103.43%, which could be attributed to the brand’s strong reputation and the model’s appeal in the MPV segment.
    • Maruti Nexa XL6 with a 94.17% increase suggests a solid performance, potentially due to its premium positioning within the Maruti portfolio.
  • Top Losers:
    • Kia Carens experienced a decrease of -22.66%, which might indicate a need for innovation or repositioning to regain market share.
    • Renault Triber also saw a notable decline of -27.85%, suggesting possible challenges in competing against other models in its segment.
    • Mahindra Marazzo faced the most significant drop of -70.18%, which is a concerning trend and may require strategic review from Mahindra.
  • New Entries:
    • Toyota Rumion, Maruti Suzuki Invicto, and Citroen C3 Aircross are new entrants in the market, with their initial sales figures setting the baseline for their future performance.
  • Steady Performers:
    • Maruti Suzuki Eeco maintains a steady growth of 7.00%, indicating consistent demand for this model.

Overall, the MPV segment shows dynamic changes with some models experiencing significant growth while others face declines. New model introductions suggest that manufacturers are actively seeking to capture more market share in this segment. The YoY changes provide insights into consumer preferences and the competitive landscape of the MPV market.

MPV FEBRUARY 2024 CAR SALES

YOY CHANGE

S.No.

Brand

Model

Segment

Feb 2024

Feb 2023

Change

%Change

Trend

1

Maruti Suzuki

Ertiga

C1

15,519

6,472

9,047

139.79%

2

Maruti Suzuki

Eeco

A

12,147

11,352

795

7.00%

3

Toyota

Innova Crysta/HyCross

D1

8,481

4,169

4,312

103.43%

4

Kia

Carens

C2

4,832

6,248

-1,416

-22.66%

5

Maruti Nexa

XL6

C2

4,093

2,108

1,985

94.17%

6

Renault

Triber

B2

2,205

3,056

-851

-27.85%

7

Toyota

Rumion

D1

730

-

730

-

-

8

Maruti Suzuki

Invicto

D1

366

-

366

-

-

9

Citroen

C3 Aircross

C1

127

-

127

-

-

10

Toyota

Vellfire

D2

57

60

-3

-5.00%

11

Mahindra

Marazzo

C2

51

171

-120

-70.18%

12

Kia

Carnival

D2

0

504

-504

-

-

MPV Segment February 2024 Car Sales - MoM Change

  • Top Gainers:
    • Toyota Rumion has the highest percentage increase of 14.24%, indicating a growing interest in this model.
    • Maruti Suzuki Ertiga also shows a healthy increase of 6.06%, maintaining its strong position in the MPV segment.
  • Top Losers:
    • Citroen C3 Aircross experienced the most significant decline of -45.02%, which could suggest a decrease in market demand or competitive challenges.
    • Kia Carens and Maruti Suzuki Invicto also saw considerable decreases of -17.37% and -26.21% respectively, indicating potential shifts in consumer preferences or market dynamics.
  • Stable Performers:
    • Maruti Suzuki Eeco shows a modest increase of 1.06%, which suggests stable demand for this model.
  • Notable Recovery:
    • Mahindra Marazzo has a notable increase of 59.38%, which is significant, especially considering its YoY decline.

Overall, the MoM data indicates that while some models like the Toyota Rumion and Maruti Suzuki Ertiga are gaining traction, others like the Citroen C3 Aircross and Kia Carens are facing declines. The MPV segment appears to be quite volatile with rapid changes in consumer preferences. The Marazzo’s recovery is particularly noteworthy and may indicate a successful marketing campaign or product updates that resonated with consumers. These insights can help manufacturers adjust their strategies to better align with current market trends.

MPV FEBRUARY 2024 CAR SALES

MOM CHANGE

S.No.

Brand

Model

Segment

Feb 2024

Jan 2024

Change

%Change

Trend

1

Maruti Suzuki

Ertiga

C1

15,519

14,632

887

6.06%

2

Maruti Suzuki

Eeco

A

12,147

12,019

128

1.06%

3

Toyota

Innova Crysta/HyCross

D1

8,481

9,400

-919

-9.78%

4

Kia

Carens

C2

4,832

5,848

-1,016

-17.37%

5

Maruti Nexa

XL6

C2

4,093

4,363

-270

-6.19%

6

Renault

Triber

B2

2,205

2,220

-15

-0.68%

7

Toyota

Rumion

D1

730

639

91

14.24%

8

Maruti Suzuki

Invicto

D1

366

496

-130

-26.21%

9

Citroen

C3 Aircross

C1

127

231

-104

-45.02%

10

Toyota

Vellfire

D2

57

61

-4

-6.56%

11

Mahindra

Marazzo

C2

51

32

19

59.38%

MPV Cars — 6-Month Sales Trend (September 2023 - February 2024)

MPV CARS 6 MONTH SALES TREND

SEPTEMBER 2023 - FEBRUARY 2024

Brand

Model

Segment

Sep 2023

Oct 2023

Nov 2023

Dec 2023

Jan 2024

Feb 2024

6 Month Avg

Maruti Suzuki

Ertiga

C1

13,528

14,209

12,857

12,975

14,632

15,519

13,953

Maruti Suzuki

Eeco

A

11,147

12,975

10,226

10,034

12,019

12,147

11,425

Toyota

Innova Crysta/HyCross

D1

8,900

8,183

6,910

7,832

9,400

8,481

8,284

Kia

Carens

C2

4,330

5,355

4,620

2,563

5,848

4,832

4,591

Maruti Nexa

XL6

C2

4,511

4,367

3,472

2,226

4,363

4,093

3,839

Renault

Triber

B2

1,642

2,080

1,312

666

2,220

2,205

1,688

Toyota

Rumion

D1

1,461

792

718

833

639

730

862

Maruti Suzuki

Invicto

D1

389

478

470

502

496

366

450

Citroen

C3 Aircross

C1

400

224

249

339

231

127

262

Mahindra

Marazzo

C2

144

89

49

62

32

51

71

Toyota

Vellfire

D2

0

3

53

37

61

57

35

Note: Calculate Car Fuel Cost with V3Cars for India and Other Countries

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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