The Indian automotive market witnessed a remarkable surge in sales as January 2024 marked an impressive start to the new year. The month’s sales figures reveal noteworthy shifts in brand-wise performance compared to the previous month and the same period last year. Maruti Suzuki maintained its dominance, yet Tata slipped to third place, giving way to Hyundai. Let’s delve into the details of the highest selling car brands in January 2024.
| S.No. | Brand Model | Jan 2024 | Jan 2023 | Change | %Change |
|---|---|---|---|---|---|
| 1 | Maruti Nexa Baleno | 19,630 | 16,357 | 3,273 | 20.01 |
| 2 | Tata Punch | 17,978 | 12,006 | 5,972 | 49.74 |
| 3 | Maruti Suzuki WagonR | 17,756 | 20,466 | -2,710 | -13.24 |
| 4 | Tata Nexon | 17,182 | 15,567 | 1,615 | 10.37 |
| 5 | Maruti Suzuki Dzire | 16,773 | 11,317 | 5,456 | 48.21 |
| 6 | Maruti Suzuki Swift | 15,370 | 16,440 | -1,070 | -6.51 |
| 7 | Maruti Suzuki Brezza | 15,303 | 14,359 | 944 | 6.57 |
| 8 | Maruti Suzuki Ertiga | 14,632 | 9,750 | 4,882 | 50.07 |
| 9 | Mahindra Scorpio N + Classic | 14,293 | 8,715 | 5,578 | 64.00 |
| 10 | Maruti Nexa Fronx | 13,643 | – | 13,643 | – |
| 11 | Maruti Nexa Grand Vitara | 13,438 | 8,662 | 4,776 | 55.14 |
| 12 | Hyundai Creta | 13,212 | 15,037 | -1,825 | -12.14 |
| 13 | Maruti Suzuki Alto K10 | 12,395 | 21,411 | -9,016 | -42.11 |
| 14 | Maruti Suzuki Eeco | 12,019 | 11,709 | 310 | 2.65 |
| 15 | Hyundai Venue | 11,831 | 10,738 | 1,093 | 10.18 |
| 16 | Kia Sonet | 11,530 | 9,261 | 2,269 | 24.50 |
| 17 | Mahindra Bolero + Neo | 9,964 | 8,574 | 1,390 | 16.21 |
| 18 | Toyota Innova Crysta/HyCross | 9,400 | 1,427 | 7,973 | 558.72 |
| 19 | Hyundai Exter | 8,229 | – | 8,229 | – |
| 20 | Mahindra XUV700 | 7,206 | 5,787 | 1,419 | 24.52 |
Brand-wise Performance
1. Maruti Suzuki
- January 2024: 1,66,802 units
- December 2023: 1,04,778 units
- MoM Growth: 59.2%
- January 2023: 1,47,348 units
- YoY Growth: 13.2%
Maruti continued its dominance with sales nearing 1.67 lakh units in January 2024, witnessing substantial MoM growth of almost 60% and YoY growth of over 13%.
2. Hyundai
- January 2024: 57,115 units
- December 2023: 42,750 units
- MoM Growth: 33.6%
- January 2023: 50,106 units
- YoY Growth: 14%
Hyundai regained its second position with a monthly sales growth of nearly 34% and a commendable YoY sales rise of 14%.
3. Tata Motors
- January 2024: 53,635 units
- December 2023: 43,471 units
- MoM Growth: 23.4%
- January 2023: 47,990 units
- YoY Growth: 11.8%
Despite slipping to the third spot, Tata achieved positive growth in both MoM (over 23%) and YoY (almost 12%) sales figures, totaling sales of over 50,000 units.
4. Mahindra
- January 2024: 43,068 units
- December 2023: 35,171 units
- MoM Growth: 22.5%
- January 2023: 33,040 units
- YoY Growth: 30.4%
Mahindra’s sales crossed the 40,000 units mark in January 2024, with MoM sales rising by 22.5% and YoY figures growing by over 30%.
5. Kia
- January 2024: 23,769 units
- December 2023: 12,536 units
- MoM Growth: 89.6%
- January 2023: 28,634 units
- YoY Growth: -17%
Kia’s monthly sales almost doubled, exceeding 23,000 units. However, its YoY sales figures declined by 17%.
6. Toyota
- January 2024: 23,197 units
- December 2023: 21,372 units
- MoM Growth: 8.5%
- January 2023: 12,728 units
- YoY Growth: 82.3%
Toyota witnessed a significant increase in YoY sales (over 82%), with monthly sales growing by 8.5%. It crossed the 10,000 units sales mark.
7. Honda
- January 2024: 8,681 units
- December 2023: 7,902 units
- MoM Growth: 9.9%
- January 2023: 7,821 units
- YoY Growth: 11%
Honda experienced similar growth in MoM and YoY sales in January, with monthly sales increasing by almost 10% and yearly sales growing by 11%.
8. Renault
- January 2024: 3,826 units
- December 2023: 1,988 units
- MoM Growth: 92.5%
- January 2023: 3,008 units
- YoY Growth: 27.2%
Renault doubled its monthly sales, and yearly sales grew by over 27%, making it the only brand on the list without a sales decline.
9. MG
- January 2024: 3,825 units
- December 2023: 4,400 units
- MoM Growth: -13.1%
- January 2023: 4,114 units
- YoY Growth: -7%
MG suffered losses in both monthly (over 13%) and yearly (7%) sales figures.
10. Volkswagen
- January 2024: 3,267 units
- December 2023: 4,930 units
- MoM Growth: -33.7%
- January 2023: 2,906 units
- YoY Growth: 12.4%
Volkswagen secured the 10th place, facing a loss of over 33% in monthly sales, while yearly sales figures still managed to increase by over 12%.
Industry-wide Performance
- Overall, around 3.94 lakh passenger cars were sold in January 2024, marking a 14% increase compared to January last year and a substantial 37% surge compared to December 2023.
- Maruti Suzuki achieved its highest-ever sales number in history, growing by 13.2% in January 2024 compared to the same period last year and increasing by 59.2% vs. last month.
- Hyundai, Tata Motors, and Mahindra also reported significant YoY growth, contributing to the industry’s overall positive momentum.
- The industry was on the brink of reaching the 4 lakh dispatch landmark, with January 2024 recording the best-ever monthly sales to date, surpassing the previous record set in October 2023.
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