Auto Sales In India: Record Car, Two-Wheeler Sales Indicate Rural Revival

Carmakers in India had their best February on record, even as motorcycle sales surged by more than a third—indicating a revival in rural demand.

• Maruti Suzuki India Ltd. sales up 8.68% at 1,60,271 units.

• ⁠Hyundai Motor India Ltd. sales up 6.80% at 50,201 units.

• ⁠Mahindra & Mahindra Ltd. sales up 39.66% at 42,401 units.

• ⁠Toyota India sales up 52.01% at 23,293 units.

• ⁠Kia India sales down 17.88% at 20,200 units.

Toyota Kirloskar Motor Pvt. Ltd. has overtaken Kia Motors India Pvt. Ltd. in sales, as key models in the South Korean carmaker’s portfolio—the Sonet and Seltos—have undergone mid-cycle upgrades over the past couple of months. It is noteworthy that Tata Motors Ltd. is not a part of this data set.

• Hero MotoCorp Ltd. sales up 16.42% at 4,45,095 units.

• ⁠HMSI sales up 82.29% at 4,13,967 units.

• ⁠TVS Motor Co. sales up 20.82% at 2,67,502 units.

• ⁠Bajaj Auto Ltd. sales up 42.94% at 1,68,727 units.

• ⁠Royal Enfield sales up 5.41% at 67,922 units.

"Overall robust GDP growth of the country in Q3 of 2023-24 has helped the auto sector," SIAM President Vinod Aggarwal said in a statement Tuesday. "The Bharat Mobility Global Expo 2024 held in February has also created a strong positive sentiment for consumers, and therefore, the industry expects the growth momentum to continue.”