Indian Passenger Vehicle Segment Records Sale of 4.21 Million Units in FY2024

Indians bought 4.21 million units of cars in FY2024. Maruti leads passenger vehicle sales with over 17 lakh units followed by Hyundai and Tata. UVs, which comprise of SUVs and MPVs, continue to be the highest contributor this year too. SUVs accounted for 51% of the overall PV wholesales in FY23. Maruti leads in sale of passenger vehicle with over 17 lakh, Hyundai and Tata are second and third, respectively.

Sale of Maruti’s UV comprising the Brezza, Grand Vitara, Fronx, Jimny, XL6,Ertiga and the Invicto helped buffer hatchback sales decline. The company’s total UV sales of 6,42,296 units in FY2024 is a handsome 75% increase over FY2023’s 3,66,129 units.

Hyundai Motor India has recorded its best-ever domestic sales of 6,14,721 units in FY2024, an increase of 8.31% over FY2023’s 5,67,546 units. Demand for company’s UV range is powered by the Creta midsize SUV and the recently launched Exter compact SUV.

Tata also achieved its best-ever EV sales of 73,833 units which is 13% of its total sales. The company’s EV portfolio comprises the Nexon EV, Tigor EV and Xpres-T (for fleet buyers),Tiago EV and the recently launched Punch EV.