February 2024 Cars Sales Analysis - SUV YoY, MoM Change, 6-Month Trend | V3Cars

SUV Segment February 2024 Car Sales - YoY Change

• Tata Punch (B1 Segment): Punch stands out as the top gainer with a remarkable YoY change of 49.74%, indicating a substantial increase in sales. This suggests that the model is gaining popularity in the B1 segment.
• Tata Nexon (B2 Segment): Nexon had a positive YoY change of 10.37%, indicating a moderate increase in sales compared to the previous year.
• Maruti Suzuki Brezza (B2 Segment): Brezza showed a positive YoY change of 6.57%, suggesting a slight increase in sales. The model continues to attract customers in the competitive B2 segment.
• Mahindra Scorpio-N + Classic (D1 Segment): Scorpio-N + Classic witnessed a significant YoY change of 64.00%, indicating a substantial increase in sales.
• Maruti Nexa Grand Vitara (C1 Segment): Grand Vitara had a positive YoY change of 55.14%, indicating a substantial increase in sales.
• Hyundai Venue (B2 Segment): Venue showed a positive YoY change of 10.18%, indicating an increase in sales compared to the previous year.
• Kia Sonet (B2 Segment): Sonet experienced a positive YoY change of 24.50%, suggesting an increase in sales. The model continues to perform well in the B2 segment.
• Mahindra Bolero + Neo (B2 Segment): Bolero + Neo had a positive YoY change of 16.21%, indicating a moderate increase in sales. The model maintains its position in the competitive B2 segment.
• Mahindra XUV700 (D1 Segment): XUV700 witnessed a positive YoY change of 24.52%, suggesting an increase in sales. 
• Kia Seltos (C1 Segment): Seltos had a negative YoY change of -38.96%, indicating a significant decline in sales compared to the previous year. The model faces challenges in the highly competitive C1 segment.
• Mahindra Thar (B2 Segment): Thar showed a positive YoY change of 37.39%, indicating an increase in sales.
• Toyota Hyryder (C1 Segment): Hyryder witnessed a positive YoY change of 32.16%, indicating an increase in sales.

• Top Gainers:

  • Tata Punch (B1 Segment): Punch stands out as the top gainer with a remarkable YoY change of 49.74%, indicating a substantial increase in sales.
  • Mahindra Scorpio-N + Classic (D1 Segment): Scorpio-N + Classic witnessed a significant YoY change of 64.00%, making it one of the top gainers.
  • Tata Nexon (B2 Segment): Nexon had a positive YoY change of 10.37%, maintaining a strong position in the B2 segment.

• Top Losers:

  • Citroen C3 (B2 Segment): C3 had the highest negative YoY change of -70.30%, indicating a significant decline in sales compared to the previous year.
  • Kia EV6 (D1 Segment): EV6 had a negative YoY change of -100%, indicating a complete drop in sales compared to the previous year.

SUV Segment February 2024 Car Sales - MoM Change

• Top Gainers:
  • Mahindra Scorpio-N + Classic leads the growth with a 116.56% increase, indicating a strong consumer preference for this model.
  • Toyota Hyryder and Tata Punch also show significant growth with 69.37% and 65.08% increases respectively, suggesting successful market penetration and acceptance.
  • Tata Safari and MG Gloster have more than doubled their sales, with 111.50% and 66.34% increases, indicating a resurgence in their popularity.
• Top Losers:
  • Hyundai Tucson has seen the most significant decline with a -68.47% change, which may reflect a shift in consumer preferences or increased competition.
  • Jeep Meridian and Citroen EC3 also experienced substantial declines of -59.42% and -61.03% respectively, indicating potential challenges in these models’ market positions.
• New Entries:
  • Maruti Nexa Fronx, Hyundai Exter, and Honda Elevate are new entrants with considerable sales figures, suggesting a strong launch performance.
• Stable Performers:
  • Maruti Suzuki Brezza and Toyota Fortuner have shown minimal changes, indicating a stable demand for these models.
• Notable Trends:
  • The SUV segment continues to be competitive with several new entrants trying to establish their market presence.
  • Established models like Maruti Suzuki Brezza and Toyota Fortuner maintain their market share despite minor fluctuations.
  • The data reflects a consumer trend towards newer models with advanced features, as seen in the success of the Mahindra Scorpio-N + Classic and Toyota Hyryder.

Overall, the SUV market is dynamic with several brands experiencing significant growth, while others face declines. The introduction of new models and the consistent performance of some existing ones highlight the evolving preferences of consumers in this segment. The YoY data provides valuable insights into long-term trends that can influence future strategies for car manufacturers.