Indian Auto Market November Performance: Mixed Results Across Major Brands

November 2024 saw a mixed performance in India's passenger vehicle market. Maruti Suzuki, Mahindra & Mahindra, and Tata Motors experienced growth, while Hyundai faced domestic sales challenges. Insights show shifting consumer preferences, macroeconomic factors, and competitive dynamics, especially with the increasing prominence of electric vehicles.

In November 2024, India's passenger vehicle sector showcased a tapestry of varied performances among its key automakers. While Maruti Suzuki, Mahindra & Mahindra, and Tata Motors registered growth, Hyundai encountered hurdles in its domestic sales, painting a picture of mixed market dynamics.

Maruti Suzuki, the nation's automotive giant, achieved significant growth with total passenger vehicle sales reaching 141,312 units, up from 134,158 units in the same period last year. However, this was a dip from the October 2024 figures, where sales hit 159,591 units. The latest data highlights a month-on-month decrease, with total vehicle sales for November 2024, including domestic, OEM, and export figures, culminating at 181,531 units.

Conversely, Tata Motors reported solid growth, selling 74,753 vehicles globally in November 2024, which was a rise from 74,172 units the previous year. The passenger vehicle segment, inclusive of electric vehicles, saw a 2% uptick year-on-year. Hyundai Motor India Limited experienced a 2.4% domestic sales decline, yet maintained overall strength with total sales of 61,252 units, buoyed by its export performance. Meanwhile, Mahindra & Mahindra saw remarkable growth in utility vehicles, underscoring the complex landscape of the automotive market amid evolving trends like the surge in electric vehicles.

(With inputs from agencies.)