June: This Is How PVs Fared This Month The passenger vehicle sales report for the month of June is out with the number of sold units rising per year.
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The rise in disposable income is only proportional to the number of passenger vehicles that are being sold by the top companies in India. Here we will be looking at a list of the top 5 companies that have had a major impact last June in terms of sales.
Toyota Kirloskar Motor
Toyota Kirloskar Motor has recorded its highest monthly sales with 27,474 units in June 2024. This is attributed to the sustained and overwhelming response to the entire MPV and SUV line-up of the company. The June 2024 sales of 27,474 units is 40 per cent more than the 19,608 units sold in June 2023.
TKM (Toyota Kirloskar Motor) has announced results for the first half of 2024, with a notable 47 per cent increase in sales compared to the same period last year. Between January and June 2024, the company sold 1,50,250 units, significantly surpassing the 1,02,371 units sold during the same period in 2023. This achievement highlights TKM's continued growth and success in the market.
Sabari Manohar – vice president, Toyota Kirloskar Motor commented, "We achieved our highest ever monthly sales of 27,474 units in June, and the overall 47 per cent growth for the calendar year highlights the success of our invigorated strategy. Our recently launched Urban Cruiser Taisor continues to perform beyond expectations with order intake doubling compared to the previous month. The model's growing popularity underscores Toyota's growing presence in the SUV segment.
Manohar elucidated in a media release that the company's SUV and MPV segments continue to lead sales surge thus reflecting a strong consumer preference for these vehicles. Beyond the presence in major cities, TKM has strategically increased its focus on rural areas, broadening customer base and driving significant momentum.
Mahindra & Mahindra
Mahindra & Mahindra's overall auto sales for the month of June 2024 stood at 69,397 vehicles, a growth of 11 per cent, including exports.
In the utility vehicles segment, Mahindra sold 40,022 vehicles in the domestic market, a growth of 23 per cent and overall, 40,644 vehicles, including exports. The domestic sales for commercial vehicles stood at 20,594.
Veejay Nakra, president, automotive division, M&M Ltd. stated, "We sold a total of 40,022 SUVs in June, a growth of 23 per cent and 69,397 total vehicles, an 11 per cent growth over last year."
Kia India
Kia India reported 21,300 units sold in June 2024, a 9.8 per cent increase from last year's 19,391 units. The new Sonet sold 9,816 units, making it Kia's top-seller for the month. The first half of 2024 saw Kia India sell 1,26,137 units, a 6 per cent rise from the previous half-year. Sonet led the pack, contributing 43 per cent to H1 sales, followed closely by Seltos (32 per cent) and Carens (25 per cent). Kia's "Make in India'' vehicles are in high demand globally, with 3,206 units exported in June and a total of 12,026 units in H1 2024.
Hardeep Singh Brar, senior vice president and national head sales & marketing said, "We have observed a healthy month-on-month sales growth in H1 2024, averaging over 21,000 units per month. We are committed to sustaining this positive trend for the remainder of the year through network expansion and by adding value to our customers' aspirations."
Recently, Kia India surpassed 2.5 Lakh export milestone to over 100 markets from its Anantapur plant, the company stated in a media release.
Maruti Suzuki
Maruti Suzuki India Limited reported a total of 1,79,228 units sold in June 2024. Total sales in the month include domestic sales of 1,39,918 units, sales to other OEM (Original Equipment Manufacturer) of 8,277 units and exports of 31,033 units. The total passenger vehicle sales saw a 3.1 per cent increase from the previous year.
The company's total sales including exports stood at 1,79,228 units in June 2024, a 12.42 per cent increase from 1,59,418 in June 2023.
Tata Motors
Tata Motors saw an eight per cent decline in domestic sales as their total PV sold stood at 43,624 units in June 2024 as compared to 47,359 units in June 2023.
Commenting on the dip of sales, Shailesh Chandra, managing director, Tata Motors passenger vehicles said in a media release, "In Q1 FY25, after a boost in demand in the first half of April, due to festivities in some parts of country, the passenger vehicle industry saw a decline in retails (registrations) in the months of May and June, influenced by the general elections and heat waves across the country. Tata Motors wholesales of 1,38,682 cars and SUVs in Q1 FY25 remained flat compared to Q1 FY24, as we readjusted our wholesales in line with retails to keep channel inventory under control.
Chandra continued to explain that the electric vehicle industry was affected by the broader industry trend and the impact of significant preponement fleet sales in Q4FY24, due to expiry of FAME II (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) subsidy in March 2024. Consequently, while the personal segment retails have grown slightly, there was a sharp decline witnessed in the fleet segment, which is expected to recover in the coming quarters.
