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.

Sales of passenger vehicles, including hatchbacks and utility vehicles, rose 10.75% over the year earlier to 370,786 units last month, data released by Society of Indian Automobile Manufacturers showed on Tuesday. At the same time, two-wheeler sales surged 34.62% to 15,20,761 units, the industry body stated. 

Sports utility vehicles, or SUVs, continued to power four-wheeler sales in February, even as hatchbacks and sedans were left with fewer takers.

• Passenger car sales down 18.46% YoY at 1,15,937 units.

• Utility vehicle sales up 38.48% YoY at 1,91,435 units.

• Passenger vehicle exports up 20.47% YoY at 54,043 units.

Among two-wheelers, it was motorcycles that drove the uptick in sales.

• ⁠Scooter sales up 31.78% YoY at 5,15,340 units.

• Motorcycle sales up 37.12% YoY at 9,64,362 units.

• Two-wheeler exports up 39.55% YoY at 3,28,082 units.

• 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.”