Be it entry-level hatchback lovers or luxury sports car enthusiasts, with a variety of products offered across segments, the Indian passenger car market has a little something for everyone. March was another great month for the industry, with overall sales figures reporting a decent increase of about 10% compared to March last year. With March marking the end of the financial year, potential price hikes and the charm of claiming depreciation pushed thousands of buyers to buy a new car. With Maruti Suzuki leading the pack yet again, the month proved to be rather positive for several other OEMs barring a few. Here’s what the complete best-selling car brand chart looks like for the month of March 2024.
Car Brand | Units Sold in March 2024 | Units Sold in March 2023 | Y-O-Y Growth in Percentage | Market Share in Percentage |
Maruti Suzuki | 1,52,718 | 1,32,763 | 15 | 41.3 |
Hyundai | 53,001 | 50,600 | 4.7 | 14.3 |
Tata Motors | 50,105 | 44,047 | 13.8 | 13.6 |
Mahindra | 40,631 | 35,976 | 12.9 | 6.8 |
Toyota | 25,119 | 18,670 | 34.5 | 5.9 |
Kia | 21,400 | 21,501 | -0.5 | 5.8 |
Honda | 7,071 | 6,692 | 5.7 | 1.9 |
MG | 4,648 | 6,051 | -23.2 | 1.3 |
Renault | 4,225 | 5,389 | -21.6 | 1.1 |
Volkswagen | 3,529 | 3,900 | -9.5 | 1 |
Maruti Suzuki
The undisputed leader that stands tall as India’s largest car maker, Maruti Suzuki plays well with an unmatched advantage of scale. For over four decades, Maruti Suzuki has catered to millions of Indians emerging as one of India’s favourite carmakers. Cherished for offering cars that are high on the value quotient, Maruti is revered for its affordable price tags and exceptional efficiency. With eight premium products offered under the NEXA portfolio and nine under the ARENA portfolio, Maruti caters to the entire nation with its robust sales and service network.
Coming to the sales figures, March proved to be yet another unforgettable month for Maruti Suzuki, where it managed to sell a mammoth 1,52,718 units, which translated to a 15% year-on-year growth over the 1,32,763 units the brand sold in the same month last year. With the lion’s share of 41.3%, Maruti Suzuki dominated the market, retaining its top spot yet again. In fact, the scale of Maruti’s success in India is such that it even managed to dominate the aggregate sales figures of the next three OEMs combined! The WagonR proved to be Maruti’s hero product of the month, followed by popular offerings such as the Swift and Dzire.
Hyundai Motors
Impressive looks, exciting engines and feature-rich offerings, all this is what make Hyundai one of the most sought-after carmakers in India. Crowned as India’s second-largest manufacturer, Hyundai captured the sales charts very well this month with aggregate sales of 53,001 units translating to an impressive year-on-year growth of 4.7%. In terms of market share, Hyundai managed to secure a decent 14.3% of the market. With this, the brand emerged as the second best-selling car brand of the month, with the Hyundai Creta being the most popular offering.
The recent growth of the carmaker in terms of market share as well as sales can be attributed to a series of new launches such as that of the Hyundai Creta Facelift and the Hyundai Creta N-Line, along with a series of well-executed facelifts and upgrades such as that of the Hyundai Verna, Hyundai i20 and the Hyundai i20 N-Line. All this has helped the brand reach new horizons of popularity, especially among the young population. With an inventory consisting of 13 vehicles across segments, Hyundai is all set to witness another successful year ahead, with many exciting surprises yet to come.
Tata Motors
Known for its top-tier safety, impeccable build quality, reliable engines and unmatched reliability, Tata Motors has truly evolved over the years in a way that no other carmaker has. Ever since the launch of the Tata Tiago, Tata Motors has completely changed its vision, choosing to offer cars that are contemporary, premium and safe. Competing head-on with Hyundai to dominate the second spot, Tata Motors, despite finishing third, did exceptionally well this month, with promising numbers on the chart.
With an inventory that is led by popular cars such as the Nexon, Safari, and Harrier, Tata has managed to strategically dominate both the ICE as well as the EV segment, with as many as four all-electric offerings including the recently launched Punch EV. Achieving aggregate sales of 50,105 units, the carmaker registered a strong year-on-year growth of 13.8% ruling over 13.6% of the market. With twelve equally capable products in its inventory, Tata Motors proudly became India’s third-best-selling car brand. With the Tata Punch EV, Tata Nexon and Nexon EV facelift elevating the brand’s portfolio alongside the new Harrier and Safari, Tata is capitalising on an upward trajectory. And considering that the Tata Curvv has finally been unveiled, the brand is sure to witness spurts of success in the upcoming month.
Mahindra
While several carmakers offer a plethora of cars across segments, what makes Mahindra truly special is its glorious legacy that has given India some of the most iconic SUVs, tapping into the segment like a boss. Home to veterans such as the Bolero, Thar and Scorpio along with exciting new additions such as the Scorpio N, Mahindra has even tapped the EV segment with the XUV400.
In March 2024, the carmaker managed to secure the fourth spot by selling 40,631 units and registering an impressive growth of 12.9% over the 35,9760 units sold in the same month last year. With an inventory comprising ten highly capable and tough SUVs, Mahindra captured 6.8% of the market, which is truly an unimaginable feat considering that the carmaker sells only SUVs. The hero product for the brand this month was undoubtedly the Mahindra Scorpio, which rose to become one of India’s best-selling SUVs of the month. And with several new launches such as the much-awaited 5-door Mahindra Thar, and the Mahindra 3XO scheduled for later this year, the brand is all set to witness a massive growth in terms of both sales and popularity.
Toyota
Ever heard of a car so reliable that it outlasted its owner? Well, chances are that it is a Toyota. Known to offer cars that are meant to last long, Toyota is a name that is synonymous with robust build quality, timeless reliability, and exhilarating performance. Home to icons such as the Innova and Fortuner, the carmaker’s recent partnership with Maruti, along with the launch of the new Innova Hycross, and Rumion has pushed the brand’s overall presence and popularity in India.
Selling an aggregate of 25,119 units in the month of March 2024, the carmaker registered a massive 34.5% growth over the 18,670 units the carmaker managed to sell in the same month last year. With this, Toyota captured 5.9% of the market share with an inventory that offers nine great products across segments, including a premium MPV and a pickup truck as well. Closing in at number five, the month proved to be a good one for Toyota, with the Hyryder leading the pack.
Kia
Setting foot in India back in 2019, Kia has managed to make its presence felt like no other. Emerging as one of India’s best carmakers in quite a short span, Kia, despite its limited four-car inventory, has managed to create its own niche with a tasteful integration of sporty looks, exciting driving dynamics and top-notch technology. And now with the Seltos’s latest update along with the all-new Kia Sonet facelift adding a breath of fresh air to Kia’s popularity, the brand has seen a slow yet noticeable boost of growth, especially in the SUV segment.
In the month of March 2024, the carmaker managed to sell an aggregate of 21,400 units despite a small 0.5% decline in terms of year-on-year growth, with the Kia Sonet leading the pack. Nonetheless, with exciting offerings, the brand captured 5.8% of the market, with a strong future ahead of it. With this, the brand finished at number six. However, considering that the much-awaited launch of the fourth generation Carnival is hopefully slated for later this year, KIA is surely in for a great year ahead.
Honda
A global icon revered for its industry-defining engines, unparalleled R&D and consumer-centric innovation, Honda boasts a beautiful legacy of over two decades in India. Despite the stringent emission norms axing almost half of the carmaker’s inventory, the brand continues to offer popular and capable products such as the Honda City, Honda City Hybrid and the Honda Amaze.
And now with the Honda Elevate firing up the SUV segment, it seems as if Honda is all set to slowly rise up the ranks. As for March 2024, the carmaker capitalised the month by registering a year-on-year growth of 5.7% by selling an aggregate of 7,071 units, capturing a decent 1.9% of the market share. With this Honda became the seventh best-selling car brand of the month, with the Honda Elevate leading the pack.
Morris Garages
Much like Kia, Morris Garages is another name that is rather new to the Indian market, with a history that’s only a couple of years old. Despite this, the carmaker has truly managed to make a steady name for itself thanks to spacious, practical and dynamic cars that the British automaker has in place for the Indian market.
With an inventory that comprises six capable and tech-loaded vehicles, MG Motors’ recent upgrade of the Astor and Hector, and the launch of the Comet EV, have made the brand the centre of attention. Managing to sell 4,648 units in March 2024, the brand despite registering an alarming 23.2% decline in terms of year-on-year performance, managed to rule over 1.3% of the market, closing in at number eight, with the Hector leading the pack.
Renault
Trailing behind MG Motors at number nine, the month of March proved to be a sluggish one for the French automaker. Nonetheless, what works in favour of the brand, especially in India is its value-oriented three-car inventory that comprises the ever-popular Renault Kwid alongside the affordable yet capable Renault Kiger and Triber. Catering to consumers who are looking to bring home cars without burning a huge hole in their pockets, Renault’s performance is a testament to the fact that the market surely rewards those who are persistent.
Selling 4,255 units in March 2024, the carmaker registered a saddening 21.6% decline in terms of year-on-year growth with a market share of 1.1%, overtaking giants such as Skoda and Volkswagen. However, the brand still has a lot to do, especially when it comes to diversifying its inventory.
Volkswagen
The German automaker that is renowned for its intriguing legacy, and quality engineering, Volkswagen managed to tightly hold down its position on the best-seller’s chart with 3,529 units sold in March 2024. With this Volkswagen became the tenth best-selling car brand despite a 9.5% decline in terms of year-on-year growth, ruling over a small but significant market share of 1.0%.
With an inventory consisting of the Taigun, Tiguan and Virtus, Volkswagen despite its limited inventory performed fairly well. With that said, considering that the brand has lost the charm it once had, a few new launches across segments can greatly help the brand regain its strength.
