The Indian automotive industry closed 2024 with diverse sales trends, reflecting shifting consumer preferences, competition, and seasonal dynamics. This report examines the Year-on-Year (Y-o-Y) and Month-on-Month (M-o-M) sales performance of leading OEMs (Original Equipment Manufacturers) in December 2024. December 2024 Car Sales Figures indicate fluctuating trends influenced by post-festive market corrections.
| OEM | Dec’24 | Dec’23 | Growth | Dec’24 | Nov’24 | Growth |
| Maruti Suzuki | 130,115 | 104,778 | 24.2% | 130,115 | 141,312 | -7.9% |
| Tata | 44,221 | 43,471 | 1.7% | 44,221 | 47,063 | -6.0% |
| Hyundai | 42,208 | 42,750 | -1.3% | 42,208 | 48,246 | -12.5% |
| Mahindra | 41,424 | 35,171 | 17.8% | 41,424 | 46,222 | -10.4% |
| Toyota | 24,887 | 21,372 | 16.4% | 24,887 | 25,183 | -1.2% |
| Kia | 8,957 | 12,536 | -28.5% | 8,957 | 20,600 | -56.5% |
| MG | 7,516 | 4,400 | 70.8% | 7,516 | 6,019 | 24.9% |
| Honda | 6,825 | 7,902 | -13.6% | 6,825 | 5,005 | 36.4% |
| VW | 4,787 | 4,930 | -2.9% | 4,787 | 3,033 | 57.8% |
| Skoda | 4,554 | 4,670 | -2.5% | 4,554 | 2,886 | 57.8% |
| Renault | 2,881 | 1,988 | 44.9% | 2,881 | 2,811 | 2.5% |
| Nissan | 2,118 | 2,150 | -1.5% | 2,118 | 2,342 | -9.6% |
| Citroen | 566 | 650 | -12.9% | 566 | 509 | 11.2% |
| Jeep | 286 | 436 | -34.4% | 286 | 361 | -20.8% |
1. Maruti Suzuki: Strong Annual Growth Despite Monthly Decline
- Dec’24 Sales: 130,115 units
- Dec’23 Sales: 104,778 units
- Y-o-Y Growth: +24.2%
- M-o-M Growth: -7.9% (vs. Nov’24: 141,312 units)
Maruti Suzuki demonstrated impressive Y-o-Y growth of 24.2%, maintaining its market leadership. Popular models like Baleno, Swift, and Ertiga contributed to this performance. However, a 7.9% M-o-M decline reflects seasonal demand stabilization after the festive season, as highlighted in December 2024 Car Sales Figures.
2. Tata Motors: Modest Growth with Stable Demand
- Dec’24 Sales: 44,221 units
- Dec’23 Sales: 43,471 units
- Y-o-Y Growth: +1.7%
- M-o-M Growth: -6.0% (vs. Nov’24: 47,063 units)
Tata Motors posted a slight Y-o-Y increase of 1.7%, driven by the continued success of models like Nexon and Punch. The M-o-M dip of 6.0% is relatively moderate, indicating stable demand despite post-festive normalization, as seen in December 2024 Car Sales Figures.
3. Hyundai: Marginal Annual Decline Amid Market Adjustments
- Dec’24 Sales: 42,208 units
- Dec’23 Sales: 42,750 units
- Y-o-Y Growth: -1.3%
- M-o-M Growth: -12.5% (vs. Nov’24: 48,246 units)
Hyundai experienced a slight Y-o-Y drop of 1.3%, reflecting market competition. Creta and Venue remained top performers, but the 12.5% M-o-M decline indicates the need to address shifting buyer preferences, as detailed in December 2024 Car Sales Figures.
4. Mahindra: Strong Growth Led by SUVs
- Dec’24 Sales: 41,424 units
- Dec’23 Sales: 35,171 units
- Y-o-Y Growth: +17.8%
- M-o-M Growth: -10.4% (vs. Nov’24: 46,222 units)
Mahindra posted robust Y-o-Y growth of 17.8%, driven by the popularity of Scorpio, Thar, and XUV700. Despite a 10.4% M-o-M drop, Mahindra’s SUV-centric lineup continues to attract buyers, aligning with trends noted in December 2024 Car Sales Figures.
5. Toyota: Solid Growth with Stable Sales
- Dec’24 Sales: 24,887 units
- Dec’23 Sales: 21,372 units
- Y-o-Y Growth: +16.4%
- M-o-M Growth: -1.2% (vs. Nov’24: 25,183 units)
Toyota reported a Y-o-Y increase of 16.4%, supported by the strong performance of Innova Hycross and Fortuner. Its M-o-M decline of just 1.2% suggests resilience in a softening market, consistent with observations from December 2024 Car Sales Figures.
6. Kia: Sharp Decline Amid Competition
- Dec’24 Sales: 8,957 units
- Dec’23 Sales: 12,536 units
- Y-o-Y Growth: -28.5%
- M-o-M Growth: -56.5% (vs. Nov’24: 20,600 units)
Kia faced a substantial Y-o-Y drop of 28.5% and a sharp 56.5% M-o-M decline, signaling challenges in maintaining momentum. The brand will need to counter intense competition and refresh its lineup to regain ground, as per December 2024 Car Sales Figures.
7. MG Motor: Impressive Growth Driven by EVs and SUVs
- Dec’24 Sales: 7,516 units
- Dec’23 Sales: 4,400 units
- Y-o-Y Growth: +70.8%
- M-o-M Growth: +24.9% (vs. Nov’24: 6,019 units)
MG Motor recorded the highest Y-o-Y growth at 70.8%, boosted by strong demand for the MG Hector and ZS EV. Its M-o-M growth of 24.9% defies seasonal trends, highlighting its expanding presence in premium and electric vehicle segments, emphasized in December 2024 Car Sales Figures.
Other OEM Performances
- VW: 4,787 units (-2.9% Y-o-Y, +57.8% M-o-M)
- Skoda: 4,554 units (-2.5% Y-o-Y, +57.8% M-o-M)
- Renault: 2,881 units (+44.9% Y-o-Y, +2.5% M-o-M)
- Nissan: 2,118 units (-1.5% Y-o-Y, -9.6% M-o-M)
- Citroen: 566 units (-12.9% Y-o-Y, +11.2% M-o-M)
- Jeep: 286 units (-34.4% Y-o-Y, -20.8% M-o-M)
Conclusion: Mixed Signals Amid Market Transition
December 2024 showcased mixed results across the Indian automotive sector. While Maruti Suzuki, Mahindra, Toyota, and MG Motor posted strong Y-o-Y growth, brands like Hyundai, Kia, and Honda faced challenges.
The M-o-M trends largely reflected seasonal slowdowns, with some exceptions like MG and Honda showing positive momentum. As 2025 approaches, electric vehicles, premium models, and SUVs remain key focus areas for OEMs aiming to sustain growth in an evolving market. December 2024 Car Sales Figures provide insights into the industry’s shifting landscape.