Car Sales Hit 3.4 Lakh Units In June – Maruti, Hyundai, Tata, Mahindra, Kia

GaadiWaadi –

The domestic sales market during the last month remained at 3.40 lakh units when compared to 3.28 lakh units in June last year, which means a YoY growth of 4%.

Since the last two years, passenger vehicle sales have been increasing by huge margins which cannot be said for this year as the growth while comparing the YoY numbers has been restricted to an increase of 4%. This is after the manufacturers managed to sell 3.40 lakh units when compared to 3.28 lakh units same time last year.

As per Partho Banerjee, Senior Executive Officer in Marketing and Sales, Maruti Suzuki, numerous places in our country faced extreme heatwaves and the general elections being conducted in a phased manner caused potential buyers to withhold their spending during June. To counteract them, MSIL started the evening campaigns and extended the working hours of most of the dealerships.

Looking towards the future, Banerjee expects the sales to pick up during the monsoon period hoping the rains don’t play spoilsport. As per his statement, Maruti Suzuki currently has an inventory of 37-38 days across the country and the stock levels should ideally be 30 days.

Hyundai Motor’s Chief Operating Officer, Tarun Garg, highlighted that SUVs have been contributing very strongly to the company’s sales. Tata Motors on the other hand is the only manufacturer to face a decline of 8% YoY during June. Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles said, “ In Q1 FY25, after a boost in demand in the first half of April, due to festivities in some parts of country, the PV industry saw a decline in sales during the months of May and June, influenced by the general elections and heat waves across the country.”

Chandra highlighted that EV sales dropped because of the broader industry trend and the bigger impact was the expiry of the FAME-II subsidy in March 2024. The industry-wide impact had its effect on fleet sales as well. Even then, Mr. Chandra is optimistic about the upcoming months and predicts that they will be able to recover the demand, especially during the festive season of August.

OEMs like Mahindra & Mahindra (M&M) and Toyota reported double-digit growth, but we know that these were due to the humungous pending orders and not to forget that their portfolio consists of SUVs majorly, which is the highest in-demand segment in the country.

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