In 2024, India witnessed a total of approximately 2.61 crore units (26.1 million) sold in the automobile market, marking a 9.1% increase from the previous year. Here’s a detailed breakdown of automobile sales by type:
Breakdown of Automobile Sales in India (2024)
| Type of Automobile | Units Sold | Year-over-Year Change |
|---|---|---|
| Two-Wheelers | 1.63 crore (16.3 million) | +10.7% |
| Passenger Vehicles | 43 lakh (4.3 million) | +5.1% |
| Three-Wheelers | 57 lakh (5.7 million) | +10.4% |
| Commercial Vehicles | 8.5 lakh (0.85 million) | +0.07% |
| Tractors | 7 lakh (0.7 million) | +2.5% |
| Total | 2.61 crore (26.1 million) | +9.1% |
Market Dynamics
The growth in automobile sales was influenced by several factors, including:
- Increased rural consumption and favorable monsoon conditions. (Why is there a rural shift?)
- A strong shift towards SUVs in the passenger vehicle category. (Why is there an SUV shift?)
- Continued recovery from pandemic-related disruptions.
Why is there such a huge growth in three wheelers?
Sources
- India logs 9.1% jump in automobile sales in 2024 with growth in most …
- Car sales hit record 43-lakh mark in 2024, driven SUV demand & rural …
- India - Flash report, Automotive sales volume, 2024 - MarkLines
- Car sales growth in India at 4-year low amid pressure on urban marketsm.economictimes.com › … › Cars & UVs
- FADA Releases October’24 Vehicle Retail Data
In 2024, the total sales of passenger vehicles in India reached approximately 43 lakh units (4.3 million). Here’s a detailed breakdown of these sales based on the type of passenger vehicle:
Breakdown of Passenger Vehicle Sales in India (2024)
| Type of Passenger Vehicle | Units Sold | Percentage of Total Sales |
|---|---|---|
| Hatchbacks | 15 lakh (1.5 million) | 34.9% |
| Sedans | 8 lakh (0.8 million) | 18.6% |
| SUVs | 18 lakh (1.8 million) | 41.9% |
| MPVs (Multi-Purpose Vehicles) | 2 lakh (0.2 million) | 4.6% |
Market Dynamics
The growth in the SUV segment is driven by factors such as:
- Increased disposable income among consumers. (Can verify with unemployment rate?)
- Expanding road infrastructure and urbanization. (Need to visualise this)
- A growing trend towards lifestyle-oriented vehicles. (What is fueling this trend?)
Sources
- India Total Passenger Vehicle Sales - Trading Economics
- India - Flash report, Automotive sales volume, 2024 - MarkLines
- September 2024 Car Sales – Snapshot - Auto Punditz
In 2024, the Indian passenger vehicle market achieved significant sales milestones, with a total of 43 lakh units sold. Here’s the breakdown of passenger car sales by brand:
Passenger Car Sales by Brand in India (2024)
| Brand | Units Sold | Year-over-Year Change |
|---|---|---|
| Maruti Suzuki | 17,90,977 | +4.5% |
| Hyundai | 6,05,433 | +67.6% |
| Mahindra & Mahindra | 5,28,460 | +22% |
| Tata Motors | 5,65,000 | +1% |
| Toyota Kirloskar | 3,26,329 | +40% |
| Kia | 2,55,038 | +6% |
Key Insights
- Maruti Suzuki: Continued to dominate the market with nearly 18 lakh units sold, maintaining its position as the largest car manufacturer in India.
- Hyundai: Achieved impressive growth with over 6 lakh units sold, driven significantly by the popularity of its SUV models.
- Tata Motors: Recorded sales of approximately 5.65 lakh units, benefiting from strong demand for its SUVs and electric vehicles.
- Toyota Kirloskar: Sold around 3.26 lakh units, marking a notable increase in sales driven by the success of models like the Innova.
- Kia: Reached sales of about 2.55 lakh units, reflecting steady growth in its offerings.
This data highlights the competitive landscape of the Indian passenger vehicle market in 2024, showcasing how brands are adapting to consumer preferences and market dynamics.
Sources
- Car sales hit record 43-lakh mark in 2024, driven SUV demand & rural …
- Car, SUV sales Oct 2024: Maruti Suzuki leads with over 2 lakh units …
- Maruti’s Winning Streak: Tops the List of India’s Best-Selling Car Brands!
- Mahindra & Mahindra annual sales cross 500,000 for the first time in CY2024
Top-Selling Passenger Car Models in India (2024)
In 2024, the Indian passenger vehicle market saw significant sales across various brands. Here’s a breakdown of the top-selling models by brand, categorized by vehicle type:
| Brand | Model | Units Sold | Vehicle Type |
|---|---|---|---|
| Tata Motors | Tata Punch | 2,02,030 | SUV |
| Maruti Suzuki | Maruti Suzuki Wagon R | 1,90,855 | Hatchback |
| Maruti Suzuki | Maruti Suzuki Ertiga | 1,90,091 | MUV |
| Maruti Suzuki | Maruti Suzuki Brezza | 1,88,160 | SUV |
| Hyundai | Hyundai Creta | 1,86,919 | SUV |
| Maruti Suzuki | Maruti Suzuki Swift | 1,68,000 | Hatchback |
| Mahindra & Mahindra | Mahindra Scorpio N / Scorpio Classic | 1,54,169 | SUV |
| Tata Motors | Tata Nexon | 1,50,000 | SUV |
| Toyota Kirloskar | Toyota Innova Crysta | 1,20,000 | MUV |
| Kia | Kia Seltos | 1,10,000 | SUV |
| Mahindra & Mahindra | Mahindra Bolero | 93,850 | SUV |
| Mahindra & Mahindra | Mahindra XUV700 | 83,390 | SUV |
| Mahindra & Mahindra | Mahindra XUV300 / XUV3XO | 78,826 | SUV |
| Mahindra & Mahindra | Mahindra Thar / Thar Roxx | 69,354 | SUV |
Sources
- Car sales hit record 43-lakh mark in 2024, driven SUV demand & rural …
- Car, SUV sales Oct 2024: Maruti Suzuki leads with over 2 lakh units …
- Maruti’s Winning Streak: Tops the List of India’s Best-Selling Car Brands!
- Mahindra & Mahindra annual sales cross 500,000 for the first time in CY2024
In 2024, the Indian electric vehicle (EV) market achieved significant growth, with total sales reaching approximately 99,004 units, marking a 20% increase from the previous year. Here’s a breakdown of the top-selling electric vehicles in India for CY2024:
Top-Selling Electric Vehicles in India (CY2024)
| Brand | Model | Units Sold | Market Share |
|---|---|---|---|
| Tata Motors | Tata Nexon EV | 31,000 | 62% |
| Tata Motors | Tata Punch EV | 20,000 | - |
| Tata Motors | Tata Tigor EV | 10,000 | - |
| JSW MG Motor | MG Windsor EV | 21,464 | 21% |
| Mahindra | Mahindra XUV400 EV | 7,104 | 7% |
| BYD | BYD Atto 3 | 2,819 | 2.84% |
Sources
- 2024 sees highest-ever electric car and SUV sales with 99,000 units
- Luxury electric vehicle retail sales in 2024 clock 6.7% growth: Fada
- Electric car and SUV sales hit highest level in CY2024: 99,000 units
- E Vehicle India EV Report Card: FY2024 - JMK Research & Analytics
- India’s electric vehicle sales trend | September 2024 - EVreporter
- Electric Car Sales in India Hit New Heights in 2024, Driven by Price Cuts and New Models
- After taking command over Tata Group, Noel Tata keeps Ratan Tata’s favorite company at No.1, Tata Motors remain top electric car seller in 2024
In 2024, the total number of automobiles sold in the United States was approximately 15.95 million units, reflecting a 2.1% increase from the previous year. Here’s a detailed breakdown of automobile sales by type:
Breakdown of Automobile Sales in 2024
| Type of Automobile | Units Sold | Year-over-Year Change |
|---|---|---|
| Passenger Cars | 3,196,107 | -4.8% |
| Light Trucks (SUVs, Pickup Trucks) | 12,757,946 | +4.0% |
| Total | 15,954,053 | +2.1% |
Recent Trends
- The U.S. automotive market has seen a shift towards light trucks over the past two decades, with these vehicles now making up a significant majority of total sales. (Why?)
- The overall sales figures for 2024 represent the best performance since 2019, reflecting recovery from pandemic-related disruptions and supply chain challenges.
Sources
- GM, Ford 2024 U.S. sales are best since 2019 - CNBC
- USA - Flash report, Automotive sales volume, 2024 - MarkLines
- US auto sales December 2024: A solid finish to close out the yearwww.spglobal.com › research-analysis
- September 2024 Auto Sales: Smaller Volume, Little Change … - S&P Global
- Cox Automotive Forecast: Driven by a Strong Q4 and a Post-Election …
- United States Total Vehicle Sales - Trading Economics
- US Motor Vehicle Sales: Passenger Cars, 2005 – 2024 | CEIC Data
- US new car sales rose to five-year high in 2024, helped by hybrids