Auto Sales In March 2024: Bajaj Auto Surges 25% In FY24, Exports Slump

Two-wheeler sales of Bajaj Auto Ltd. surged 25% in fiscal 2024 even as exports fell.

The Chakan, Pune-based automaker sold a total of 22,50,585 units in the fiscal ended March 31, as against 18,05,883 units in the previous fiscal, according to an exchange filing on Tuesday. Exports, however, declined 10% year-on-year 14,77,338 units.

Sales of commercial vehicles sold by the automaker surged 54% year-on-year to 4,64,138 units. Exports, however, declined 14% year-on-year to 1,58,872 units.

In the month of March:

• Total sales up 25% year-on-year 3.7 lakh units

• Total two-wheeler sales up 27% at 3.1 lakh units

• Total CV sales up 17% year-on-year at 52,019 units

• Total exports up 39% year-on-year at 1.5 lakh units

• Total vehicle sales at 22,866 units vs 23,926 units, down 4% YoY

• Total domestic sales at 21,317 units vs 22,885 units, down 7% YoY

• Total M&HCV sales at 15,562 units vs 16,773 units, down 7% YoY

• Total domestic M&HCV sales at 14,517 units vs 15,936 units, down 9% YoY

• March exports at 9,507 units, down 23% YoY

• March motorcycle sales at 75,551 units, up 4.6% YoY

• VECV sales at 11,242 units, down 5.6% YoY

• Domestic VECV sales at 10,525 units, down 6.6% YoY

• VECV exports at 461 units, down 11.4% YoY

Maruti Suzuki India Ltd. has clocked its highest ever domestic sales of 17.93 lakh units in FY24, as well as highest exports at 2.83 lakh units.

In March,

• Total sales at 1.87 lakh units vs 1.70 lakh units, up 10% YoY

• Domestic sales at 1.61 lakh units vs 1.39 lakh units, up 15% YoY

• Exports at 25,892 units vs 30,119 units, down 14% YoY

Tata Motors Ltd. sold more cars than trucks in the fiscal ended March 31, 2024, as the factor of cyclicality weighed heavy on the commercial vehicle unit.

Car sales at the Nexon SUV maker rose 6% year-on-year to 573,485 units in FY24, according to an exchange filing on Monday. That includes EV sales, which grew 48% over the previous year to 73,833 units.

In March,

• Domestic sales at 90,822 units, up 2% YoY

• Domestic CV sales at 40,712 units, up 10% YoY

• Domestic PV sales at 50,110 units, up 14% YoY

Hyundai Motor India Pvt. Ltd. has clocked its highest ever annual sales in the fiscal ended March 31, 2024.

Total sales of the Creta SUV maker rose 8% year-on-year to 7.77 lakh units in the previous financial year, according to an exchange filing on Monday.

• Domestic sales rose 8.3% year-on-year to 6.14 lakh units

• Exports rose 6.7% year-on-year to 1.63 lakh units

In March 2024 alone, the company sold a total of 65,601 units---53,001 units in the domestic market and 12,600 exports---to clock a growth of 6.7% over the previous year.

"As we move forward into 2024-25, we will continue to work diligently towards creating more excitement and enhanced value for our beloved customers," Tarun Garg, chief operating officer at Hyundai Motor India, said in a statement.

Sales of sports utility vehicles at Mahindra & Mahindra Ltd. rose 13% year-on-year to 40,631 units even as tractor sales slumped by a fourth.

• Total sales at 68,413 units, up 4% YoY.

• PV sales at 40,631 units vs 35,997 units, up 13% YoY.

• Three-wheeler sales at 5,279 units vs 5,697 units, down 7% YoY.

• Total tractor sales at 26,024 units vs 35,014 units, down 26% YoY.

• Total exports at 1,573 units vs 2,115 units, down 26% YoY.

Tractor sales at Escorts Kubota Ltd. fell 16.7% over the previous year to 8,587 units, against 10.305 units a year earlier, according to an exchange filing on Monday.

• Domestic sales fell 16.1% year-on-year to 8,054 units.

• Exports fell 24.3% year-on-year to 533 units.

"Looking ahead, as early signs point to an above-average monsoon in FY25, we anticipate that demand will stabilise post elections."

In the quarter ended March 31, the company sold a total of 21,253 tractors as against 24,765 units a year, thereby reporting an annual decline of 14.2%. For the fiscal ending March 31, 2024, Escorts' tractor sales fell 7.2% from the previous fiscal to 95,858 units.

The shift in Chaitra Navratri festival to April this year and last season's erratic monsoon patterns have affected agricultural sentiments in central and southern regions resulting in delayed harvesting of rabi crops," the company said in the exchange filing.

India's top automakers are reporting their sales numbers for the month of February. Here's a look at who sold how much in the month gone by and what the trend is suggesting.