Top-Selling Brands In India - February 2024 Car Sales Analysis - YoY, MoM Change, 6-Month Trend | V3Cars

28 March 2024
By Prathu Sharma
0

In this February 2024 car sales analysis article, we’ll look at the manufacturer-wise sales figures along with the YoY and MoM change for each carmaker in India. We’ll also include our observations based on the sales data and possible reasons behind a massive increase or drop in sales where applicable. Lastly, the table with monthly sales for the last 6 months will give you an idea about the 6-month sales trend of car sales for all manufacturers.

Brand-Wise February 2024 Car Sales - YoY Change

Top Gainers:
- Toyota showed the highest percentage increase in sales with a 52.62% growth, selling 8,033 more units in February 2024 compared to February 2023.
- Maruti Nexa and Mahindra both exhibited strong growth of over 40%, with Maruti Nexa selling 14,269 more units and Mahindra selling 12,180 more units YoY.
- Tata also had a significant increase of 19.61%, adding 8,405 units over the previous year.
Top Losers:
- Jeep faced the steepest decline in sales with a -53.96% change, selling 388 fewer units compared to the same month last year.
- Renault saw a substantial decrease of -38.33%, with sales dropping by 2,536 units YoY.
- Skoda experienced a -34.06% decline, translating to 1,164 fewer cars sold.
Stable Performers:
- Maruti Suzuki, despite being the top seller in volume, saw a slight decrease of -1.31% in sales.
- Hyundai and Honda showed moderate growth of 6.88% and 17.35% respectively.

These insights indicate a dynamic shift in consumer preferences, with some brands significantly improving their market share while others face challenges. The data suggests a competitive market where brands like Toyota and Maruti Nexa are capitalizing on opportunities to expand their customer base.

BRAND-WISE FEBRUARY 2024 CAR SALES YOY CHANGE
Brand	Feb 2024	Feb 2023	Change	% Change	Trend
Maruti Suzuki	1,10,579	1,12,043	-1,464	-1.31%
Tata	51,270	42,865	8,405	19.61%
Hyundai	50,201	46,968	3,233	6.88%
Maruti Nexa	49,693	35,424	14,269	40.28%
Mahindra	42,401	30,221	12,180	40.30%
Toyota	23,300	15,267	8,033	52.62%
Kia	20,200	24,600	-4,400	-17.89%
Honda	7,142	6,086	1,056	17.35%
MG	4,532	4,193	339	8.08%
Renault	4,080	6,616	-2,536	-38.33%
Volkswagen	3,019	3,313	-294	-8.87%
Nissan	2,755	2,184	571	26.14%
Skoda	2,254	3,418	-1,164	-34.06%
Citroen	421	328	93	28.35%
Jeep	331	719	-388	-53.96%

Brand-Wise February 2024 Car Sales - MoM Change

Top Gainers:
- MG exhibited the highest growth with an 18.48% increase, selling 707 more units compared to January 2024.
- Renault also saw a positive change, with a 6.64% increase and 254 more units sold.
Top Losers:
- Honda faced the most significant drop with a -17.73% decrease, translating to 1,539 fewer units sold than the previous month.
- Kia also experienced a notable decline of -15.02%, selling 3,569 fewer units.
Stable Performers:
- Toyota showed a slight improvement with a 0.44% increase, selling 103 more units MoM.
- Mahindra remained relatively stable with a minor decrease of -1.55%.

These observations indicate a dynamic market with varying performance among brands. MG and Renault managed to increase their sales, while Honda and Kia saw a downturn in their MoM sales figures. Toyota and Mahindra maintained a steady market presence. The data reflects the fluctuating consumer demand and the competitive nature of the car industry.

BRAND-WISE FEBRUARY 2024 CAR SALES MoM CHANGE
Brand	Feb 2024	Jan 2024	Change	% Change	Trend
Maruti Suzuki	1,10,579	1,12,604	-2,025	-1.80%
Tata	51,270	53,635	-2,365	-4.41%
Hyundai	50,201	57,115	-6,914	-12.11%
Maruti Nexa	49,693	54,198	-4,505	-8.31%
Mahindra	42,401	43,068	-667	-1.55%
Toyota	23,300	23,197	103	0.44%
Kia	20,200	23,769	-3,569	-15.02%
Honda	7,142	8,681	-1,539	-17.73%
MG	4,532	3,825	707	18.48%
Renault	4,080	3,826	254	6.64%
Volkswagen	3,019	3,267	-248	-7.59%
Nissan	2,755	2,863	-108	-3.77%
Skoda	2,254	2,377	-123	-5.17%
Citroen	421	650	-229	-35.23%
Jeep	331	396	-65	-16.41%

Car Brands — 6-Month Brand Sales Trend (Sep 2023 - Feb 2024)

BRAND-WISE 6 MONTH SALES TREND SEP 2023 - FEB 2024
BRAND	Sep 2023	Oct 2023	Nov 2023	Dec 2023	Jan 2024	Feb 2024	6 Month Avg
Maruti Suzuki	1,12,905	1,12,043	1,01,736	96,654	97,115	88,565	1,01,503
Hyundai	50,106	46,968	50,600	49,701	48,601	50,001	49,330
Tata	47,990	42,865	44,047	47,010	45,880	47,240	45,839
Maruti Nexa	34,443	35,424	31,027	40,684	46,593	41,391	38,260
Mahindra	33,040	30,221	35,976	34,694	32,883	32,585	33,233
Kia	28,634	24,600	21,501	23,216	18,766	19,391	22,685
Toyota	12,728	15,267	18,582	14,162	19,379	18,237	16,393
Honda	7,821	6,086	6,692	5,313	4,660	5,080	5,942
Renault	3,008	6,616	5,389	4,323	4,625	5,450	4,902
MG	4,114	4,193	6,411	4,551	5,006	3,941	4,703
Skoda	3,818	3,418	4,432	4,009	3,547	3,966	3,865
Volkswagen	2,906	3,313	3,900	3,032	3,286	3,394	3,305
Nissan	2,803	2,184	3,260	2,617	2,618	2,552	2,672
Citroen	804	328	2,015	1,003	806	1,003	993
Jeep	685	719	680	558	734	493	645

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ABOUT THE AUTHOR

Prathu Sharma

Engineer by upbringing, artist by passion, motorhead because, why not! Likes to know about everything related to technology, switches between american muscle and german innovation depending on the day. Wants to own 69' Mustang Mach 1 and to drive BMW M3 87'someday.