Indian car market records 1.1% YoY drop in sales in Sept. 2024, Mahindra overtakes Tata Motors to secure No 3 spot

Despite the overall decline, some brands, including Mahindra and Kia, saw notable growth, while others faced challenges.

Maruti Suzuki, India’s largest car manufacturer, sold 1,44,962 units in September 2024, down 5,850 units from 1,50,812 units in September 2023, representing a 3.88 percent YoY decline.

Despite this, Maruti maintained its market-leading position with a 40.39 percent share.

Hyundai India, the second-largest automaker, reported a 5.79 percent YoY drop in sales, selling 51,101 units in September 2024, down from 54,241 units the previous year, securing 14.24 percent of the market.

Mahindra saw impressive growth, achieving its highest-ever sales in September 2024.

The company sold 51,062 units, a 23.74 percent YoY increase from 41,267 units in September 2023, gaining a 14.23 percent market share.

Mahindra came close to surpassing Hyundai to become the second-largest carmaker, missing the mark by just 39 units.

However, Mahindra surpassed Tata Motors to claim the third position.

Tata Motors reported a decline, with 41,065 units sold in September 2024, down 8.44 percent from 44,850 units in September 2023, capturing 11.44 percent of the market.

Toyota experienced a 7.37 percent YoY growth, selling 23,802 units in September 2024, up from 22,168 units the previous year, securing a 6.63 percent market share.

Kia India also posted strong growth, with sales rising 17.49 percent YoY.

The company sold 23,523 units in September 2024, up from 20,022 units in 2023, capturing a 6.55 percent market share.

Honda India saw one of the largest declines, with a 42.45 percent YoY drop, selling 5,675 units in September 2024, down from 9,861 units in September 2023, reducing its market share to 1.58 percent.

MG Motor experienced an 8.30 percent YoY decline, selling 4,588 units compared to 5,003 units last year, accounting for 1.28 percent of the market.

Volkswagen sold 3,394 units, a 4.88 percent YoY decrease from 3,568 units in September 2023, capturing 0.95 percent of the market.

Skoda saw a 17.96 percent YoY decline, with 3,308 units sold, down from 4,032 units in September 2023, representing a 0.92 percent market share.

Renault recorded a 4.51 percent YoY decline, selling 3,217 units, down from 3,369 units in September 2023, holding a 0.90 percent market share.

Nissan India saw a 13.90 percent decline, with 2,113 units sold, down from 2,454 units last year, holding 0.59 percent of the market.

Despite launching new models and updates, Citroen's sales also declined, dropping 4.95 percent YoY to 711 units, capturing 0.20 percent of the market.

Jeep India experienced a significant 24.12 percent YoY drop, selling 365 units, down from 481 units in September 2023, representing 0.10 percent of the market.