Check Out May 2024 Auto Sales: Shares in Focus

India happens to be the 3 largest automobile market in the world. From April 2022 to March 2023, the automobile industry produced a total of 25.93 million vehicles, which included passenger cars, commercial vehicles, tricycles, two-wheelers, and quadricycles. Given that it is the world’s largest tractor, 2nd largest bus, and 3rd largest heavy truck producer, India commands a commanding presence in the heavy vehicle market.

The overall number of passenger vehicle sales reached 3,93,074 in January 2024. The industry has continued the trajectory with growing sales numbers, while some players witnessed a dent in May 2024 sales

• Maruti’s total sales include 1,46,694 domestic units, 10,490 sales to other OEMs, and 17,367 exports.
• In May 2024, Tata Motors’ domestic sales of MH&ICV, which includes trucks and buses, were 12,987 units, up from 11,776.
• Mahindra sold 43,218 Utility Vehicles in the domestic market, a 31% increase, and 44,283 total vehicles—including exports—in the Utility Vehicles segment. 19,826 commercial vehicles were sold domestically.
• With sales rising from 76,607 units in May 2023 to 96,966 units in May 2024, TVS Motors’ total exports increased by 27%. Sales of two-wheelers increased from 66,605 units in May 2023 to 88,450 units in May 2024, representing a 33% increase in exports.
• Hero MotoCorp sold 10,31,708 units in the first two months of the fiscal year FY ’25 (April–May 24). This is a 12.6% increase over the same period last year (April–May 23), when the business sold 915,581 units.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.