February 2024 Most Detailed All Cars Sales Analysis, YoY, MoM Change | V3Cars

February 2024 — Car Segment-wise Sales Analysis

Here we will look at the sales figures of each of the car segment sales in February 2024 and find out which segments are expanding and which ones are shrinking.

February 2024 Car Segment-wise MoM Sales Change

The following table presents the MoM change of each car segment sales in February 2024:

Segment-wise Insights - MoM Change:

• Top Gainers:
  • Segment D2 is the only segment that experienced growth, with a 1.89% increase, translating to 78 more units sold.
• Top Losers:
  • Segment C2 faced the most significant decline with a -12.59% decrease, which means 2,766 fewer units were sold.
  • Segment B2, the largest segment by volume, also saw a substantial drop of -7.96%, equating to 13,363 fewer units sold MoM.
• Stable Performers:
  • Segment C1 had the smallest decrease of -1.22%, losing 755 units compared to the previous month.
  • Segments A and D1 also showed relatively small declines of -4.08% and -2.93% respectively.

Overall, the data indicates a general downward trend in sales across most segments, with only Segment D2 showing an increase. The significant drops in Segments C2 and B2 suggest a shift in consumer preference or market dynamics that could be impacting these particular car segments.

February 2024 Car Segment-wise YoY Sales Change

The following table presents the YoY change of each car segment sales in February 2024:

Segment-wise Insights - YoY Change:

• Top Gainers:
  • Segment D1 shows the most significant growth with a 77.67% increase, which translates to 15,692 more units sold.
  • Segment C1 also exhibits strong growth with a 44.21% increase, amounting to 18,732 additional units sold.
  • Segment B2 has a notable increase of 9.52%, selling 13,433 more units.
• Top Losers:
  • Segment A experienced the largest decline with an -18.2% decrease, resulting in 7,180 fewer units sold.
  • Segment D2 also saw a decrease of -8.17%, with 374 fewer units sold.
• Stable Performers:
  • Segment C2 had a moderate increase of 5.04%, selling 922 more units.
  • Segment B1 showed a smaller decline of -4.82%, with 3,292 fewer units sold.

These insights indicate that while some segments like D1 and C1 are experiencing significant growth, others such as A and D2 are facing declines. The overall trend suggests a shift in consumer preferences, with higher growth in the middle segments (C1 and B2) compared to the entry-level (A) and the higher-end (D2) segments.

February 2024 Car Segment-wise 6-Month Sales Trend

The following table will help you understand which car segments are in an uptrend and which ones are on a slippery slope:

• Segment B2 is the largest in terms of volume, with an average of 149,960 units sold over the six months. Despite fluctuations, it maintained its position as the segment with the highest sales.
• Segment B1 and C1 show consistent performance with averages close to 60,873 and 60,697 units, respectively. These segments appear to be stable choices among consumers.
• Segment D1 has the lowest average sales at 34,663 units, but it shows less volatility compared to other segments, indicating a niche but consistent customer base.
• Segment A experienced the most significant drop in December 2023, which could indicate seasonal trends or a shift in consumer preference during that period.
• Segment C2 shows the lowest sales in December 2023, similar to Segment A, suggesting possible market influences affecting these segments during the year-end.
• Segment D2, while being the smallest segment, shows a slight increase in February 2024, hinting at a potential uptick in interest for this category.

Overall, the data suggests that while the B2 segment dominates the market, other segments like B1 and C1 also maintain a significant share. The A and C2 segments might be more sensitive to market changes or seasonal influences. The D1 and D2 segments, although smaller, show signs of steady demand.

February 2024 — Car Bodystyle-wise Sales Analysis

Here we will look at the sales figures of each of the car body style sales in February 2024 and find out which body styles are growing in demand and which ones are declining.

February 2024 Car Bodystyle-wise MoM Sales Change

The following table presents the MoM change of each car body style sales in February 2024:

• Top Losers:
  • Pickup trucks experienced the largest percentage decrease with a -15.22% drop, although the volume change was small, with 44 fewer units sold.
  • Hatchbacks saw a significant decrease of -7.02%, with 7,215 fewer units sold, indicating a notable shift in consumer preference or market conditions.
  • Sedans also faced a decline of -6.79%, translating to 2,301 fewer units sold.
• Stable Performers:
  • SUVs, despite being the largest category by volume, saw a decrease of -5.03%, which equates to 10,400 fewer units sold.
  • MPVs showed the smallest decline of -2.67%, losing 1,333 units compared to the previous month.

Overall, the data indicates a general downward trend across all body styles, with the most significant impact on pickup trucks in terms of percentage change. The SUV category, while still leading in volume, has also seen a noticeable decrease, suggesting a potential cooling in the market demand for this body style.

February 2024 Car Bodystyle-wise YoY Sales Change

The following table presents the YoY change of each car body style sales in February 2024:

• Top Gainers:
  • Pickup trucks, although a small category, show an extraordinary percentage increase of 1533.33%, with sales rising from 15 to 245 units.
  • MPVs have seen a significant rise of 42.38%, with 14,468 more units sold, indicating a growing consumer interest in this segment.
  • SUVs also continue to be popular, with a 33.33% increase, adding 49,060 units sold compared to the previous year.
• Top Losers:
  • Hatchbacks experienced the largest decline in sales with an -18.74% decrease, selling 22,028 fewer units.
  • Sedans also saw a decrease of -10.73%, with 3,797 fewer units sold.

These trends suggest a strong consumer shift towards larger vehicles like SUVs and MPVs, while smaller body styles like hatchbacks and sedans are seeing a decline in popularity. The dramatic increase in pickup sales, although on a small base, could indicate a niche market that is rapidly expanding.

February 2024 Car Bodystyle-wise 6-Month Sales Trend

The following table will give you an idea about a longer term trend of each car body style over a 6-month period:

February 2024 — Car & Brand-wise Sales Analysis

Here we will look at the sales figures of each car and brand sales in February 2024 and find out which cars and brands are in an uptrend and which ones are in a downtrend.

February 2024 Car & Brand-wise MoM Sales Change

The following table presents the MoM change of each car and brand sales in February 2024:

• Top Gainers:
  • Jimny from Maruti Suzuki showed the highest percentage increase of 97.55%, although on a smaller base.
  • Comet EV from MG had a significant increase of 82.18%, indicating a strong consumer interest in this model.
  • Glanza from Toyota experienced a 22.49% increase, the highest among the hatchbacks.
• Top Losers:
  • EC3 from Citroen faced the most substantial percentage decrease of -54.89%.
  • Sonet from Kia also saw a significant drop of -21.06%, the highest among SUVs.
  • Camry from Toyota experienced a -32.69% decrease, the largest among sedans.
• Stable Performers:
  • Taigun from Volkswagen and Hyryder from Toyota showed slight increases of 0.86% and 1.05% respectively.
  • Hector + Hector Plus from MG remained relatively stable with a 0.50% increase.

These insights suggest a dynamic market with varying performance across different models and segments. The data indicates a growing consumer interest in certain models, particularly electric vehicles like the Comet EV, while others are facing challenges in maintaining their sales momentum. The SUV segment remains competitive, with some models like the Sonet experiencing a downturn, while others like the Taigun and Hyryder are holding steady.

February 2024 Car & Brand-wise YoY Sales Change

The following table presents the YoY  change of each car and brand sales in February 2024:

• Top Gainers:
  • Toyota’s Innova Crysta/HyCross leads with a 103.43% increase, followed by Hyryder with a 69.37% increase, indicating strong consumer demand for these models.
  • Tata’s Punch shows a significant increase of 65.08%, and Safari with 111.50%, reflecting Tata’s growing market presence.
  • Maruti Suzuki’s Ertiga and XL6 have seen substantial increases of 139.79% and 94.17% respectively, suggesting a rise in the MPV segment’s popularity.
• Top Losers:
  • Skoda’s Kodiaq and Octavia faced the most significant declines of -52.91% and -100.00% respectively, indicating a challenging year for these models.
  • Renault’s Kwid and Kiger also saw considerable decreases of -52.90% and -41.90%.
  • Maruti Suzuki’s Ignis and Alto K10 experienced declines of -55.57% and -35.28%, showing a downturn in the smaller car segments.
• Stable Performers:
  • Volkswagen’s Tiguan and Virtus showed positive growth of 9.68% and 4.35% respectively.
  • MG’s ZS EV and Gloster also had positive changes of 13.23% and 66.34%, indicating a growing interest in MG’s offerings.
• Noteworthy Trends:
  • The pickup segment, though small, has seen a dramatic increase, with Toyota’s Hilux showing a 1533.33% increase.
  • Electric and hybrid models like MG’s Comet EV and Toyota’s Camry have shown impressive growth, suggesting an increasing shift towards eco-friendly vehicles.

Overall, the data reflects a dynamic automotive market with varying performance across different segments and manufacturers. While some brands and models are experiencing significant growth, others are facing declines, highlighting the ever-changing consumer preferences and market conditions.

February 2024 Car & Brand-wise 6-Month Sales Trend

The following table will give you an understanding of which cars and brands are growing, which ones are holding steady and which ones losing market share:

Also read: February 2024 Mahindra Car Sales Analysis - YoY, MoM Change, 6-Month Trend | V3Cars