Auto Sales in August 2024: Maruti Suzuki slumps, While Toyota Kirloskar, MG Motor, Kia sales surged

Auto sales in August: Skewed performance is what seems to be in store, with varied major firms opening their sales sheets for August 2024. While Maruti Suzuki witnessed a decline, companies such as Toyota Kirloskar, MG Motor, and Kia declared significant rises.

Kia India

Kia India recorded a 17 per cent YoY jump in total wholesales for August 2024, dispatching 22,523 units compared to 19,219 units for the corresponding period of August 2023. Kia India has captured this performance due to an aggressive optimization of products and strategic initiatives toward offering great value to its customers. During August, the bestsellers from Kia include Sonet at 10,073 units, Seltos at 6,536 units, and Carens at 5,881 units. The EV6 electric car also added to the volume increase, at 33 units.

MG Motor

MG Motor India posted a 9 per cent y-o-y growth in retail sales for August 2024, selling 4,571 units against 4,185 units in the same month a year ago. Incidentally, over 35 per cent of the sales were contributed by new energy vehicles, comprising pure electric ZS and the Comet. The company further announced that it would introduce its new model on September 11, 2024.

Maruti Suzuki India

Maruti Suzuki India has reported a 4 per cent y-o-y decline in total sales for August 2024, selling 1,81,782 units against 1,89,082 units sold in the corresponding period of last year. It was led by an 8 per cent drop in domestic passenger vehicle sales to 1,43,075 units from 1,56,114 units in August 2023. The mini segment comprising the Alto, S-Presso models declined to 10,648 units, while compact cars comprising models such as Baleno and Swift slipped by 20 per cent to 58,051 units. Utility vehicles such as Grand Vitara and Brezza grew 7 per cent at 62,684 units. Maruti Suzuki's exports in the period under review increased 5.6 per cent to 26,003 units. Overall domestic sales of the company, including passenger vehicles, light commercial vehicles, and OEM sales were down 5.3 per cent at 1.55 lakh units.

Toyota Kirloskar

Toyota Kirloskar Reports Robust growth by 35 per cent year-on-year in Aug 2024 over Aug 2023, whose wholesale sales of 30,879 units have grown from 22,910 units. The same is attributed to the strong demand recorded for SUVs and MPVs, reflecting the general market inclination towards these segments of vehicles both in urban and rural areas. To this demand, Toyota reopened bookings for its Innova Hycross ZX & ZX (O) models, smoothening up the production and supply chains to cut the waiting times of its top-end models.