Car Sales Report 2024; Maruti Suzuki Tata Motors Mahindra | Toyota Kirloskar | Indian companies sold a record 41 lakh cars in 2024: For the first time in the country, annual sales of cars crossed 40 lakh, 1.9 crore two-wheelers were also sold.

Car Sales Report 2024; Maruti Suzuki Tata Motors Mahindra | Toyota Kirloskar | Indian companies sold a record 41 lakh cars in 2024: For the first time in the country, annual sales of cars crossed 40 lakh, 1.9 crore two-wheelers were also sold.
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Retail sales of cars in India crossed 40 lakh for the first time in a year. 40.73 lakh cars were sold in the country during 2024. This is 5.18% more than the 38.73 lakh cars sold in 2023.

According to the Federation of Automobile Association (FADA), two-wheeler retail sales also increased by 10.78% to 1.89 crore last year. In comparison, 1.71 crore two-wheelers were sold in 2023.

However, two-wheeler sales have still not reached pre-Covid levels. Before Covid 19, annual sales of two-wheelers in the country had reached a record level of 2.1 crore. Last year it was less than two crores.

Two-wheeler: TVS market share to increase by 2% in 2024

company 2024 2023
Hero MotoCorp 29.02% 31.33%
TVS Motor 25.37% 23.25%
Honda Motorcycle and Scooter 17.13% 16.81%
Bajaj Auto 11.55% 11.84%
Royal Enfield 4.30% 4.60%

Source: FADA Report

Car: Mahindra’s market share increased the most by 1.6%

company 2024 2023
Maruti Suzuki 40.26% 40.85%
Hyundai Motor 13.75% 14.23%
Tata Motors 13.21% 13.58%
Mahindra 12.03% 10.44%
Toyota Kirloskar 6.35% 4.99%

Source: FADA Report

Commercial vehicle sales remained almost stable

FADA President CS Vigneshwar said, ‘Despite challenges like extreme heat, elections and uneven rains last year, total retail sales of vehicles increased by 9.11%. However, no major change was seen in the retail sales of commercial vehicles. Car sales have increased due to main network expansion and entry of new models in the market. Due to high inventory, discount war was also seen in the market.

The auto industry expects that car sales will reach close to 45 lakh this year. Two-wheeler sales are also expected to exceed pre-Covid levels. The share of electric vehicles may increase in this.

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