Leading passenger vehicle maker Maruti Suzuki on Saturday reported marginal growth while Hyundai and Tata Motors posted a decline in their sales in February as a slowdown in the market continued with demand remaining muted.
On the other hand, Mahindra & Mahindra and Toyota Kirloskar Motor posted double-digit growth riding on their SUV and MPV models.
Maruti Suzuki India (MSI) said its total domestic passenger vehicle sales were at 1,60,791 units last month as compared with 1,60,271 units in the year-ago month, a marginal year-on-year growth.
Sales of the company's mini segment cars, comprising Alto and S-Presso, declined to 10,226 units as against 14,782 units in same month last year, while those of compact cars, including Baleno, Celerio, Dzire, Ignis, Swift, and WagonR, rose to 72,942 units as compared to 71,627 units in the year-ago month.
MSI said its utility vehicles, consisting of Grand Vitara Brezza, Ertiga, XL6, Jimny clocked higher sales at 65,033 units last month as compared to 61,234 units earlier.
“In February our SUVs, especially Brezza and Fronx, continue to see strong demand with Fronx achieving its highest-ever monthly sales of over 21 ,000 units. Our CNG vehicles maintained their demand momentum with a 37% growth rate for the month. These numbers reflect customers’ continued trust in Maruti Suzuki,” Partho Banerjee, Senior Executive Officer, Marketing & Sales, Maruti Suzuki.
Rival Hyundai Motor India said it dispatched 47,727 units to dealers in the domestic market last month, a drop of 5 per cent as compared with 50,201 units in February 2024.
"On the domestic sales front, despite geopolitical challenges, we remain optimistic that the proposed tax reforms in the Union Budget 2025 and improved liquidity will provide the much-needed demand boost to the market," Hyundai Motor India Whole-time Director and CEO Tarun Garg said.
Tata Motors said its domestic passenger vehicle (PV) sales, including electric vehicles, were down 9 per cent at 46,435 units as compared with 51,267 units a year ago.
On the other hand, M&M said its utility vehicles sales in the domestic market were at 50,420 vehicles, a growth of 19 per cent as compared with 42,401 units in February last year.
"This strong performance is a result of a continued positive momentum for our SUV portfolio," Mahindra & Mahindra (M&M) Automotive Division President Veejay Nakra said.
Toyota Kirloskar Motor (TKM) said its overall sales increased 13 per cent year-on-year to 28,414 units in February as compared to 25,220 units in February 2024. The company dispatched 26,414 units to its dealers in the domestic market and exported 2,000 units.
"MPVs and SUVs continue to be the primary growth drivers, contributing 68 per cent to overall sales," Toyota Kirloskar Motor Vice President, Sales-Service-Used Car Business Varinder Wadhwa said.
The strong demand for models such as the Innova Crysta, Innova Hycross, Urban Cruiser Hyryder, Hilux, Fortuner, Legender, and Rumion reflects the growing preference for reliable and quality products, he added.
Kia India also reported a 23.8 per cent rise in total sales at 25,026 units in February compared to 20,200 units sold in the same month last year.
"Kia India continues to grow steadily, driven by strong customer demand and our commitment to delivering cutting-edge mobility solutions…With a diverse and evolving product lineup, Kia India continues to respond to market demand with agility and precision," Kia India Senior Vice President and Head of Sales and Marketing, Hardeep Singh Brar said.
Similarly, JSW MG Motor India reported a 16.3 per cent rise in retail sales at 4,956 units in February this year compared to 4,261 units in the same month last year.
In the two-wheeler segment, Royal Enfield reported a 19 per cent year-on-year rise in total sales at 90,670 units in February as compared to 75,935 units in the same month a year ago.
The company's domestic sales were at 80,799 units, as against 67,922 units in February last year, up 19 per cent. Exports jumped 23 per cent to 9,871 units last month compared to 8,013 units in February 2024.
Suzuki Motorcycle India Pvt Ltd (SMIPL) posted total sales of 90,206 units last month, down from 97,435 units in February last year.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
