Maruti Suzuki and Mahindra & Mahindra Grow in June 2024, Hyundai Sees Slight Dip

In June 2024, India’s car market saw different results for big companies. Maruti Suzuki and Mahindra & Mahindra (M&M) had good growth, but Hyundai Motor India Limited (HMIL) had a small drop in sales.

Maruti Suzuki’s Success

Maruti Suzuki sold 1,79,228 cars in June 2024, which is 12.4% more than the 1,59,418 cars they sold in June 2023. For the first quarter of the financial year 2024-25, they sold 5,21,868 cars, up from 4,98,030 cars last year, showing a 4.8% growth.

Mahindra & Mahindra’s Growth

Mahindra & Mahindra sold 69,397 vehicles in June 2024, including exports, which is an 11% increase from last year. They sold 40,022 Utility Vehicles (UVs) in India, a 23% rise. Veejay Nakra, President of the Automotive Division at M&M, said, “We sold a total of 40,022 SUVs in June, a growth of 23 per cent and 69,397 total vehicles, a 11 per cent growth over last year. June has been a momentous month, as we rolled out the 200,000th XUV700 from our facility. We also celebrated 25 years of Bolero Pik-Ups, a category creator and a market leader in the LCV segment.”

Hyundai’s Slight Decline

Hyundai Motor India Limited sold 64,803 cars in June 2024, with 50,103 sold in India and 14,700 exported. This is a small drop compared to their earlier success in the first half of 2024, where they saw a 5.68% growth in sales. Tarun Garg, COO of HMIL, said, “We closed H1 of CY2024 with an overall sales growth of 5.68 per cent Year-on-Year. SUVs have contributed strongly, accounting for 66 per cent of our domestic sales. The new Hyundai CRETA has been a key driver for Domestic H1 sales with 91,348 units sold, a growth of 11 per cent over same period last year.”

The mixed results show how India’s car market is always changing. Maruti Suzuki and M&M’s growth shows their strength, while Hyundai’s small drop shows the tough competition and changing tastes of buyers.