Assembled by Rushlane statistics According to , the Indian car industry witnessed a growth of 1.8% year-on-year, with sales reaching 3,97,947 units in October 2023 compared to 3,90,853 units. MoM sales also increased by 10.9% from 3,58,879 units sold in September 2024. Among the biggest players, Mahindra, Toyota and MG Motor were among the players, while Maruti Suzuki and Kia saw a year-on-year decline.
Top 5 Brands by Year-on-Year (YoY) Growth
Toyota: Leading the year-on-year growth, Toyota recorded 37% growth, selling 28,138 units in October 2024, compared to around 20,550 units a year ago. With this the company’s market share has increased to 7.1%.
Mahindra: With strong sales of its recently launched Thar Roxx and price cut of XUV700, Mahindra achieved 24.7% YoY growth with sales of 54,504 units. With this the company’s market share is at 13.7%.
MG Motor: Registering double-digit growth, MG Motor witnessed 37.9% YoY growth. The company recorded its best ever sales with sales of 7,045 units. This growth was mainly driven by the launch of the Windsor EV, which became MG’s best-selling model since its launch.
Volkswagen: Volkswagen saw a modest growth of 9% year-on-year, with sales reaching 4,458 units. With this its market share increased by 0.1%.
Hyundai: Hyundai continued its steady climb, with sales up 0.8% year-on-year to 55,568 units. This growth coupled with good MoM performance has helped the brand maintain a solid market share of 14%.
Top 5 Brands by Month-on-Month (MoM) Growth
MG Motor: In MoM growth, MG Motor witnessed a massive growth of 53.6% at 4,588 units in September 2024 and led the market. The popularity of the Windsor EV contributed the most to this spike.
Skoda: Skoda improved MoM sales by 23.6% with sales of 4,079 units in October 2024. This growth reflects the brand’s good efforts to capture the market’s attention with new offers and updates.
Toyota: Toyota stood second with 18.2% MoM growth with sales of 28,138 units. This appears to be the impact of the brand’s competitive pricing and announcements of upcoming models.
Tata Motors: Tata Motors witnessed 17.2% MoM growth and sold 48,133 units. Although sales declined marginally by 0.4% year-on-year, the month-on-month growth kept Tata competitive with a 12.1% market share.
Jeep: Despite YoY decline, Jeep saw 16.2% MoM growth. Its 424 units were sold, mainly due to the tremendous promotions given by the company.
Leading Brands Overview
While Maruti Suzuki continues to lead the market with sales of 1,59,591 units in October, it suffered a 5% YoY decline due to high inventory and competition. With Mahindra’s lead, Hyundai and Mahindra are continuously lagging behind Maruti Suzuki. Tata Motors saw a slight decline year-on-year but on MoM basis its performance was good. On the other hand, Kia and Honda faced big declines in both YoY and MoM position, reflecting the ongoing challenges in the market.
