July 1st 2024.
New Delhi: In the month of June, the wholesale sales of passenger vehicles saw a slight increase of 4%, although the growth was influenced by the previous year's high sales and subdued demand due to the extreme heatwave conditions in various parts of the country.
The overall dispatches of passenger vehicles in June amounted to 3,40,784 units, showing a growth of 3.67% as compared to 3,28,710 units in June 2023.
Maruti Suzuki India, the leading player in the market, reported a total of 1,37,160 units of domestic passenger vehicle sales in June, a 3% increase from the same month last year when it sold 1,33,027 units.
The sales of mini-segment cars, which include models like Alto and S-Presso, declined to 9,395 units from 14,054 units in June 2023. Similarly, the sales of compact cars such as Baleno, Celerio, Dzire, Ignis, Swift, Tour S, and WagonR stood at 64,049 units as compared to 64,471 units in the corresponding period last year.
On the other hand, the utility vehicles category, which includes models like Brezza, Grand Vitara, Ertiga, and XL6, witnessed an increase in sales from 43,404 units in June 2023 to 52,373 units in June this year. The Senior Executive Officer of Maruti Suzuki India, Partho Banerjee, stated that the company currently has a network stock of 37-38 days spread across the country.
Hyundai Motor India, a major competitor, reported flat domestic sales of 50,103 units in June, slightly higher than the 50,001 units sold in the same period last year.
Tata Motors, another significant player in the market, saw a decrease of 8% in the sales of passenger vehicles, including electric vehicles, in the domestic market. The company sold 43,624 units in June this year, as compared to 47,359 units in June 2023. Managing Director of Tata Motors Passenger Vehicles, Shailesh Chandra, attributed this decline to the general elections and heat waves across the country.
Chandra also stated that despite the low retails in the past two months, the company has a strong enquiry pipeline, which along with the upcoming festive season, indicates a potential recovery in demand.
Mahindra & Mahindra reported a 23% increase in its passenger vehicle sales in the domestic market, selling 40,022 units in June as compared to 32,588 units in the same month last year.
Toyota Kirloskar Motor had a record-breaking month in June, with a total dispatch of 27,474 units to dealers, a significant increase of 40% from 19,608 units in June 2023.
JSW MG Motor India saw a decline of 9% in its retail sales, selling 4,644 units in June as compared to 5,125 units in June 2023.
In the two-wheeler space, Bajaj Auto reported a total of 2,16,451 units of domestic sales in June, an 8% increase from the 1,99,983 units sold in the same month last year. TVS Motor Company also saw a growth of 8% in its domestic two-wheeler wholesale, selling 2,55,734 units in June this year as compared to 2,35,833 units in June 2023. Suzuki Motorcycle India reported a 13% increase in domestic sales, selling 71,086 units in June.
Overall, the month of June saw a mix of results for various players in the passenger vehicle and two-wheeler market, with some reporting growth while others faced challenges due to external factors. The upcoming festive season and strong enquiry pipeline bring hope for a potential recovery in demand in the coming months.
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