NEW DELHI: Most carmakers, with the exception of Hyundai Motor India Ltd (HMIL), reported year-on-year growth in November wholesales. However, on a sequential basis, most companies saw a significant decline, as festive demand tapered off and buyers, despite attractive discounts, hesitated to make big-ticket purchases.
The country’s largest carmaker - Maruti Suzuki’s - domestic passenger vehicle (PV) wholesales grew by 5% last month to 1,41,312 units as compared to 1,34,158 units in the year-ago month. Month-on-month basis, it was a big dip given that Maruti, backed by festive demand, had sold nearly R1.60 lakh units in October 2024.
Korean brand Hyundai registered total wholesales of 61,252 units (Domestic: 48,246 units and Export: 13,006 units) in November 2024. On an annual basis, sales were down by 2.4% last month as the carmaker had dispatched 49,451 units in November 2023. Hyundai’s exports fell sharply by 20.5% last month.
Commenting on HMIL sales, Tarun Garg, Whole-time Director and Chief Operating Officer, HMIL said, “HMIL’s push towards fortifying SUV supremacy continued in November with SUVs contributing 68.8% of our total Domestic sales. We also bolstered HMIL’s presence in the hinterland of India, by achieving the highest ever monthly rural contribution of 22.1% in November.”
Tata Motors Passenger vehicle (PV) wholesales, including electric vehicles, grew by 2% to 47,117 units as against 46,143 units in November 2023. Within this, domestic PV dispatches saw a 2% uptick to 47,063 units compared to 46,068 units in the same month last year.
Toyota Kirloskar Motor (TKM) continues to post a robust growth trajectory, recording sales of 25,586 units in November 2024, a 44% increase over the same period last year.
Sabari Manohar – Vice President, Sales-Service-Used Car Business, Toyota Kirloskar Motor said, “The year 2024 has exceeded our expectations and we are gearing up to close it on a strong note, with a continued focus on redefining customer experience to effectively meet evolving market demands.”
JSW MG Motor announced wholesale figures of 6019 units in November 2024. Compared to November 2023, this is a year-on-year growth of 20 %. MG Windsor, India’s first intelligent CUV, maintains its strong demand, leading the company’s EV sales for the second consecutive month with 3144 units sold.