Auto sales rise marginally by 3.67% to 3.40 lakh units in June

During H1 of CY24, the total sales by PV makers stood at 21,68,512 units, which is 7.6 percent more than 20,15,033 units sold during during corresponding period last year (Image Credit: Pixabay)

Amidst soaring temperatures and hefty discount offerings by auto dealers, Passenger Vehicle (PV) wholesales during June 2024 witnessed  3.67 percent growth at 3,40,784 units as against 3,28,710 units dispatched during June 2023.

While the high base effect of last year also resulted in modest growth in volumes, industry players reckon that new launches such as as Maruti Suzuki Swift, Hyundai Creta, etc., continued to contribute to incremental volumes.

During the first half of this year, the total sales by PV makers stood at 21,68,512 units, which is 7.6 percent more than 20,15,033 units sold during during corresponding period last year.

The country’s largest passenger vehicles maker Maruti Suzuki India (MSIL) reported domestic wholesales of 1,37,160 units in June, up by 3.10 per cent from 1,33,027 units in the same month last year.

According to Partho Banerjee, Senior Executive Officer, Marketing & Sales, MSIL, the growth in the PV industry is majorly on the back of the new models that are gaining a lot of traction.

“We have managed to sell 35,815 units of the all-new Swift since its launch in early May. Last month itself, we sold 16,000 units despite last month’s production maintenance shutdown," revealed Banerjee.

Similarly, IPO-bound Hyundai Motor India (HMIL) reported a marginal growth in its domestic wholesales to 50,103 units during the month as compared with 50,001 units in the same month last year.

"We closed H1 of CY2024 with an overall sales growth of 5.68 per cent year-on-year. SUVs have contributed strongly, accounting for 66 per cent of our domestic sales," Hyundai Motor India COO Tarun Garg said in a statement.

Tata Motors stated that the sales of passenger vehicles, including electric vehicles, in the domestic market, were lower by 8 percent at 43,624 units in June as compared with 47,359 units in the year-ago month.

"Going forward, we foresee recovery of demand, as enquiries have remained strong despite low retails in the past two months. This strong enquiry pipeline, in addition to the onset of festive season from August, augurs well for the industry," Tata Motors Passenger Vehicles Managing Director Shailesh Chandra said in a statement.

Mahindra and Mahindra’s (M&M) passenger vehicle sales in the domestic market rose 23 percent to 40,022 units last month against 32,588 units in June last year.

According to Veejay Nakra, President, Automotive Division, M&M Ltd., “June has been a momentous month, as we rolled out the 200,000th XUV700 from our facility.”

Kia India recorded sales of 21,300 units in June 2024, marking 9.8 percent Y-O-Y growth compared to the 19,391 units sold in June 2023.

Hardeep Singh Brar – Senior Vice President and National Head Sales & Marketing said, "We have observed a healthy month-on-month sales growth in H1 2024, averaging over 21,000 units per month.”

Toyota Kirloskar Motor (TKM) stated that its domestic wholesales stood at 25,752 units, while exports accounted for 1,722 units.

"Our SUV and MPV segments continue to lead our impressive sales surge thus reflecting a strong consumer preference for these versatile and reliable vehicles," Toyota Kirloskar Motor Vice President, Sales-Service-Used Car Business, Sabari Manohar said in a statement.

Honda Cars India Limited (HCIL) reported a 5 percent decline in wholesales in the domestic market to 4,804 units in June. The Japanese carmaker had dispatched 5,080 units to its dealers in the domestic market in June 2023.

JSW MG Motor India reported a 9 percent year-on-year decline in retail sales at 4,644 units in June.