 "Auto sales continue to slide in Dec, likely to remain subdued for some time")
Automobile registrations last year in all categories of vehicles taken together for the first time crossed 28 million, growing by 7.6 per cent year-on-year (Y-o-Y).
In 2023, 24 million vehicles were retailed.
Electric vehicles (EVs) had a great run through the year. More than 1.2 million electric two-wheelers were registered, and those accounted for 6.2 per cent of all two-wheelers sold. This is nearly 12 per cent higher than the 1.14 million sold the previous year.
As for four-wheelers, the Vahan data showed that close to 170,000 EVs were retailed during the year, and that is nearly 90 per cent more than the 90,000-odd units sold in 2024.
Meanwhile, the top makers of passenger cars saw a shift in pecking order during the year. Growth was led by sport utility vehicles (SUVs). Mahindra & Mahindra jumped to second spot, pushing Hyundai Motor India to fourth position.
Maruti Suzuki retained its market leadership in passenger vehicles, while Tata Motors stayed in third spot.
The four companies’ registrations rose to about 3.5 million, up nearly 8.4 per cent Y-o-Y over CY2024, supported by a strong festival season and sustained demand for SUVs.
The Vahan data (excluding Telangana), compiled by industry sources, showed Maruti Suzuki India retained its undisputed leadership, closing the year with 1.78 million units, an 8.8 per cent Y-o-Y increase.
Month-wise, Maruti’s volumes softened in February and again during the summer/monsoon/early autumn months of June-September, but the company staged a sharp rebound in October, clocking its highest monthly sales of 243,327 units, driven by festival demand and refreshed portfolio traction.
M&M was the biggest gainer in the year. Its volumes jumped over 20 per cent Y-o-Y to 588,994 units, the strongest improvement among peers. It showed consistent momentum through the year, with relatively shallow dips during weak industry months such as June and September.
The festival quarter proved decisive, with October sales crossing 71,000 units, underlining sustained demand for the Scorpio-N, Thar and XUV platforms.
The data confirms M&M’s successful SUV-led growth strategy translating directly into a market share gain.
Tata Motors reported 565,982 units, up 5.6 per cent Y-o-Y. Its monthly performance showed pressure during the first half, particularly between May and July, reflecting moderation in demand for hatchbacks and entry-level SUVs.
While Tata Motors also benefited from the October festival spike, the rebound was not strong enough to defend its share fully against faster-growing rivals, especially M&M.
Hyundai Motor India was the only one to post a decline, a marginal decline, with annual volumes at 559,039 units, down 0.3 per cent Y-o-Y. Month-wise trends show Hyundai struggling to regain momentum after mid-year softness, despite a lift in October. Intensifying competition in compact SUVs and slower traction in entry-level segments weighed on overall performance.
The year reinforced a hierarchy shift beneath the market leader. M&M gained meaningful share, Maruti strengthened its dominance incrementally, Tata ceded ground modestly, and Hyundai lost market share.
