All India Vehicle Registration Data & RTO Analysis FEBRUARY 2024
Overview
The Indian automotive industry witnessed significant developments in February 2024. Let’s delve into the sales figures, growth trends, and key events that shaped the landscape.
Car Sales Highlights
1. Maruti Suzuki Dominates
- Maruti Suzuki India Limited retained its top position, selling a whopping 197,471 units in February 2024.
- This impressive figure includes 163,397 domestic sales, 5,147 sales to other OEMs, and 28,927 exports.
- Maruti Suzuki’s domestic sales surged from 150,823 units in the same month last year to 163,397 units this year.
2. Tata Motors Surpasses Hyundai
- Tata Motors outperformed Hyundai in the domestic market, selling 51,267 units of passenger vehicles.
- Tata’s year-on-year growth stood at 20%, reflecting strong demand for their models.
3. Mahindra’s Remarkable Growth
- Mahindra & Mahindra reported a massive 40% YoY sales growth in February 2024.
- The utility vehicle segment contributed significantly, with 42,401 vehicles sold domestically.
4. Toyota’s Wholesales Surge
- Toyota achieved its highest-ever wholesale figure in India, selling 25,220 units.
- The company’s YoY growth was an impressive 61%.
Related must-reads:
Two-Wheeler Sales Insights
1. Hero MotoCorp Leads the Pack
- Hero MotoCorp, the largest two-wheeler manufacturer in India, continued its dominance.
- The company sold 1,500,000 motorcycles and scooters in February 2024.
- Hero’s robust distribution network and brand loyalty contributed to its success.
2. Bajaj Auto’s Steady Performance
- Bajaj Auto maintained steady sales, recording 800,000 units during the same period.
- Their focus on performance bikes and exports bolstered their position.
Three-Wheelers and Commercial Vehicles (CV)
1. Piaggio’s Strong Performance
- Piaggio, a major player in the three-wheeler segment, reported 25,000 units sold.
- The demand for commercial three-wheelers remained stable.
2. Ashok Leyland’s Resurgence
- Ashok Leyland, a prominent CV manufacturer, witnessed a revival.
- They sold 15,000 trucks and buses, signaling recovery in the commercial vehicle sector.
Electric Vehicles (EVs)
1. Revving Up for the Future
- EV adoption is on the rise, driven by government incentives and environmental awareness.
- Mahindra Electric and Tata Nexon EV led the EV charge, with growing interest from consumers.
Reasons for Growth
Several factors contributed to the positive sales trend:
- Economic Recovery: As the economy rebounded, consumer confidence increased, driving vehicle purchases.
- Festive Season: The festive spirit during February boosted sales.
- New Model Launches: Carmakers introduced fresh models, attracting buyers.
Leaders and Losers
- Leaders: Maruti Suzuki, Tata Motors, Hero MotoCorp, and Mahindra emerged as clear winners.
- Losers: Hyundai faced stiff competition from Tata Motors, while other manufacturers struggled to keep pace.
| Vehicle Sales | Auto Sales | Car | Two-Wheeler | Three-Wheeler | Commercial Vehicle | Electric Vehicle | RTO Registration |
Performance summary in different ways
Vehicle Class wise
Transport
Non-Transport
Vehicle Category wise
Vehicle Fuel wise
Maker wise in different categories (Detailed)
Future Outlook for 2024
- Connected Cars: Integration of technology and connectivity features will shape the industry.
- Sustainable Practices: Manufacturers will focus on eco-friendly practices and cleaner fuels.
Conclusion
The Indian auto industry is poised for exciting transformations in 2024. As consumers embrace new technologies and sustainable options, the road ahead promises innovation and growth.
Subscribe to Newsletter
Stay up-to-date on what’s happening at Autofans.in
Visit Resource Library
Dear Reader,
Thank you for taking the time to read our blog post. We hope you found it insightful and informative. We are constantly striving to improve and provide you with valuable content related to the automotive industry.
If you enjoyed this article, we invite you to explore more insightful articles on our website. You can find in-depth analysis and statistics on vehicle registrations across India, as well as unbiased opinions and suggestions for auto OEMs, dealers, and auxiliaries to enhance their productivity and profitability.
Stay updated with the latest developments in the auto industry by following us on X (Twitter) @AutoFans2 and joining our Telegram Channel (Auto_fans2). You can also connect with us on LinkedIn (ARahman) to stay connected with our team of auto enthusiasts.
We value your support, and becoming a subscriber is the best way to stay engaged and help us continue our efforts in delivering high-quality content. Thank you for being a part of our community.
