March 2024 Cars Sales Analysis - Hatchback YoY, MoM Change, 6-Month Trend | V3Cars

In this March 2024 car sales analysis article, we’ll look at the YoY and MoM change in sales figures of all hatchbacks 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 hatchbacks for the last 6 months will give you an idea about their 6-month sales trend.

Hatchback March 2024 Sales Analysis

Hatchbacks Segment March 2024 Car Sales - YoY Change

  • Model Performance:
    • The top-selling hatchback models in March 2024 include WagonR, Swift, Baleno, Alto K10, Tiago, Altroz, i20, Grand i10 Nios, Glanza, Celerio, Ignis, Kwid, Comet EV, and Ioniq 5.
    • These models represent a mix of brands including Maruti Suzuki, Tata, Hyundai, Toyota, Renault, MG, and Maruti Nexa, showcasing the diversity in the hatchback segment.
  • YoY Changes:
    • Altroz emerges as the top performer with a significant YoY increase in sales, indicating strong market acceptance and positive growth momentum for this Tata hatchback, with a change of 2,123 units or 54.97% compared to March 2023.
    • Glanza, Glanza, and Ioniq 5 also demonstrate substantial YoY increases in sales, with growth rates ranging from 28.35% to 209.52%, reflecting positive market reception and increased demand for these models.
    • Grand i10 Nios, i20, Swift, and WagonR, however, experienced notable YoY decreases in sales, with declines ranging from -10.43% to -45.89%. These decreases suggest challenges or shifts in consumer preferences and market dynamics for these models compared to the previous year.
    • Other models like Baleno, Tiago, Alto K10, Celerio, Ignis, Kwid, and Comet EV also witnessed YoY changes, indicating varying performance and trends within the hatchback segment.
  • Insights:
    • Altroz's strong YoY performance underscores its success in capturing market share and competing effectively in the hatchback segment.
    • The substantial YoY increases in sales for Glanza, Ioniq 5, and other models highlight successful product positioning, marketing strategies, or enhancements that have resonated with customers.
    • The YoY decreases in sales for models like Grand i10 Nios, i20, Swift, and WagonR suggest challenges or shifts in market dynamics that brands may need to address through innovation or strategic adjustments.
    • Hyundai's Ioniq 5 stands out as a top gainer with significant YoY growth, reflecting its appeal to environmentally-conscious consumers or those seeking advanced electric vehicles in the hatchback segment.

HATCHBACKS MARCH 2024 CAR SALES

YOY CHANGE

S.No.

Brand

Model

Segment

Mar 2024

Mar 2023

Change

%Change

Trend

1

Maruti Suzuki

WagonR

B1

16,368

17,305

-937

-5.41%

2

Maruti Suzuki

Swift

B1

15,728

17,559

-1,831

-10.43%

3

Maruti Nexa

Baleno

B2

15,588

16,168

-580

-3.59%

4

Maruti Suzuki

Alto K10

A

9,332

9,139

193

2.11%

5

Tata

Tiago

B1

6,381

7,366

-985

-13.37%

6

Tata

Altroz

B2

5,985

3,862

2,123

54.97%

7

Hyundai

i20

B2

5,155

6,596

-1,441

-21.85%

8

Hyundai

Grand i10 Nios

B1

5,034

9,304

-4,270

-45.89%

9

Toyota

Glanza

B2

4,319

3,365

954

28.35%

10

Maruti Suzuki

Celerio

A

3,478

4,646

-1,168

-25.14%

11

Maruti Nexa

Ignis

B1

2,788

2,760

28

1.01%

12

Renault

Kwid

A

928

1,283

-355

-27.67%

13

MG

Comet EV

A

875

-

875

-

-

14

Hyundai

Ioniq 5

C2

65

21

44

209.52%

Hatchback Segment March 2024 Car Sales - MoM Change

  • Model Performance:
    • WagonR, Swift, Baleno, Alto K10, Tiago, Altroz, i20, Grand i10 Nios, Glanza, Celerio, Ignis, Kwid, Comet EV, and Ioniq 5 are the top-selling hatchback models in March 2024.
    • These models belong to various brands such as Maruti Suzuki, Tata, Hyundai, Toyota, Renault, and MG, showcasing the diversity in the hatchback segment.
  • MoM Changes:
    • Swift emerges as the top performer with a significant MoM increase in sales, indicating strong market acceptance and positive growth momentum for this Maruti Suzuki hatchback, with a change of 2,563 units or 19.47% compared to February 2024.
    • Altroz, Ignis, and Kwid also demonstrate substantial MoM increases in sales, with growth rates ranging from 12.08% to 32.13%, reflecting positive market reception and increased demand for these models.
    • WagonR, Baleno, Alto K10, Glanza, Comet EV, and Ioniq 5, however, experienced notable MoM decreases in sales, with declines ranging from -1.52% to -20.40%. These decreases suggest challenges or shifts in consumer preferences and market dynamics for these models compared to the previous month.
  • Top Gainers and Losers:
    • Top Gainers: Swift, Ignis, and Altroz are the top gainers in terms of MoM sales increase. These models have likely benefited from strategic marketing campaigns, favorable reviews, or special offers, leading to increased consumer interest and sales.
    • Top Losers: Alto K10, Baleno, and Glanza experienced significant MoM decreases in sales. Factors such as market saturation, competition from other models, or seasonal variations may have contributed to these declines.
  • Insights:
    • The strong MoM performance of Swift and other top gainers suggests effective marketing strategies or enhancements that have resonated with customers, driving sales growth.
    • MoM decreases in sales for models like WagonR, Baleno, and Glanza indicate challenges or shifts in market dynamics that brands may need to address through targeted marketing efforts or product improvements.
    • Continued monitoring of market trends, consumer preferences, and competitor activities will be essential for brands to stay competitive and adapt to changing market conditions in the hatchback segment.

HATCHBACKS MARCH 2024 CAR SALES

MOM CHANGE

S.No.

Brand

Model

Segment

Mar 2024

Feb 2024

Change

%Change

Trend

1

Maruti Suzuki

WagonR

B1

16,368

19,412

-3,044

-15.68%

2

Maruti Suzuki

Swift

B1

15,728

13,165

2,563

19.47%

3

Maruti Nexa

Baleno

B2

15,588

17,517

-1,929

-11.01%

4

Maruti Suzuki

Alto K10

A

9,332

11,723

-2,391

-20.40%

5

Tata

Tiago

B1

6,381

6,947

-566

-8.15%

6

Tata

Altroz

B2

5,985

4,568

1,417

31.02%

7

Hyundai

i20

B2

5,155

5,131

24

0.47%

8

Hyundai

Grand i10 Nios

B1

5,034

4,947

87

1.76%

9

Toyota

Glanza

B2

4,319

4,581

-262

-5.72%

10

Maruti Suzuki

Celerio

A

3,478

3,586

-108

-3.01%

11

Maruti Nexa

Ignis

B1

2,788

2,110

678

32.13%

12

Renault

Kwid

A

928

828

100

12.08%

13

MG

Comet EV

A

875

920

-45

-4.89%

14

Hyundai

Ioniq 5

C2

65

66

-1

-1.52%

Hatchback Cars — 6-Month Sales Trend (October 2023 - March 2024)

HATCHBACK CARS 6 MONTH SALES TREND

OCTOBER 2023 - MARCH 2024

Brand

Model

Segment

Oct 2023

Nov 2023

Dec 2023

Jan 2024

Feb 2024

Mar 2024

6 Month Avg

Maruti Suzuki

WagonR

B1

22,080

16,567

8,578

17,756

19,412

16,368

16,774

Maruti Nexa

Baleno

B2

16,594

12,961

10,669

19,630

17,517

15,588

15,965

Maruti Suzuki

Swift

B1

20,598

15,311

11,843

15,370

13,165

15,728

15,165

Maruti Suzuki

Alto K10

A

11,200

8,076

2,497

12,395

11,723

9,332

8,947

Hyundai

i20

B2

7,212

5,727

4,574

7,083

5,131

5,155

6,035

Tata

Tiago

B1

5,356

5,508

4,852

6,482

6,947

6,381

5,989

Hyundai

Grand i10 Nios

B1

6,552

4,708

5,247

6,865

4,947

5,034

5,590

Tata

Altroz

B2

5,984

4,955

4,081

4,935

4,568

5,985

5,201

Toyota

Glanza

B2

4,724

3,950

4,088

3,740

4,581

4,319

4,302

Maruti Suzuki

Celerio

A

4,317

2,215

247

4,406

3,586

3,478

3,003

Maruti Nexa

Ignis

B1

2,374

1,660

392

2,598

2,110

2,788

1,865

MG

Comet EV

A

1,036

698

791

505

920

875

828

Renault

Kwid

A

869

610

457

856

828

928

728

Hyundai

Ioniq 5

C2

117

96

81

95

66

65

105

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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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