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<ul><li>The Indian passenger vehicles segment has recorded decent growth in March 2024.</li><li><keyword id="44883" type="General" weightage="20" keywordseo="Maruti-Suzuki" source="Orion">Maruti Suzuki</keyword> continues to lead the passenger vehicle segment with <keyword id="596" type="General" weightage="20" keywordseo="Hyundai" source="Orion">Hyundai</keyword> at the second spot.</li><li>Hyundai has beaten <keyword id="42747" type="General" weightage="20" keywordseo="Tata-Motors" source="Orion">Tata Motors</keyword> to reclaim the second spot in the Indian car industry.</li></ul>The auto sales numbers for March 2024 and FY24 have started pouring in, with companies recording decent growth across the board. Maruti Suzuki has once again emerged as the market leader, with Hyundai taking the second spot. Hyundai lost the second position to Indian automaker Tata Motors in February 2024 after it sold around a thousand vehicles less than the latter. The company has now reclaimed the second position and reported a new high for its yearly sales. <cmsannotation type="cmsannotation" annotationid="Maruti Suzuki retains the top spot" comment="subhead" text="Maruti Suzuki retains the top spot">Maruti Suzuki retains the top spot</cmsannotation> India’s largest car maker Maruti Suzuki retained the top spot by reporting sales of 1,52,718 passenger vehicles in March 2024, up from 1,32,763 cars sold in March 2023, registering a 15% year-on-year growth. Coming to the company’s sales during FY24, the Indian automaker sold 17,59,881 vehicles during the year, up from 16,06,870 vehicles sold in FY23, recording a 9.5% growth. The company’s sales have been boosted by the sale of compact vehicles such as the Brezza, Ertiga, Fronx, Grand Vitara and more, which have received a 75% boost during the year. <cmsannotation type="cmsannotation" annotationid="Hyundai reports record sales" comment="subhead" text="Hyundai reports record sales">Hyundai reports record sales</cmsannotation> Hyundai has emerged as the second biggest player in the Indian car market in March 2024 with domestic sales of 53,001 vehicles in March 2024, up from 50,600 vehicles sold in March 2023, recording a growth of around 5%. The company’s exports reported a growth of 16% from 10,900 in March 2023 to 12,600 in March 2024. The company reported record sales during FY24 at 7,77,876 vehicles, up from 7,20,565 vehicles sold in FY23, registering a growth of 8%. This includes an export of 1,63,515 vehicles in FY24 and 1,53,019 vehicles in FY23. <cmsannotation type="cmsannotation" annotationid="Tata Motors takes the third spot" comment="subhead" text="Tata Motors takes the third spot">Tata Motors takes the third spot</cmsannotation> Tata Motors came in third with sales of 50,297 vehicles in March 2024, up from 44,225 vehicles in March 2023, registering a 14% growth year-on-year. Coming to its annual sales, the company sold 5,73,495 vehicles in FY24, up from 5,41,087 vehicles in FY23, registering a 6% growth. The company’s commercial sales during FY24 were 3,78,060 in FY24, down 4% from 3,93,317 vehicles sold in FY23. <cmsannotation type="cmsannotation" annotationid="Mahindra reports growth while MG declines" comment="subhead" text="Mahindra reports growth while MG declines">Mahindra reports growth while MG declines</cmsannotation> Mahindra and Mahindra reported a growth in domestic dispatches from 35,997 vehicles in March 2023 to 40,631 vehicles in March 2024, registering a growth of 13%. During FY24, the company sold 4,59,877 vehicles, up from 3,59,253 vehicles sold in FY23, recording a growth of 28%. On the other hand, MG Motor reported a decline in its sales. The company sold 4,648 vehicles in March 2024, down from 6,051 in March 2023. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/ussd-based-call-forwarding-to-be-suspended-soon-to-curb-fraud/articleshow/108933705.cms">USSD-based call forwarding to be suspended soon to curb fraud</a> <a href="https://www.businessinsider.in/tech/apps/news/from-ai-photo-editing-to-international-upi-payments-here-are-upcoming-whatsapp-features/articleshow/108815797.cms">From AI photo editing to international UPI payments, here are upcoming WhatsApp features</a> <a href="https://www.businessinsider.in/tech/mobile/news/vivo-v30-pro-review/articleshow/108944431.cms">Vivo V30 Pro review: premium cameras in the mid-range segment</a>

Hyundai retakes the second spot from Tata Motors, records its highest-ever sales

Top selling cars in India in March 2024 – Tata Punch leads the pack

New Delhi, Apr 13 () Passenger vehicle sales in India declined by 51 per cent in March, hit by 21-day nationwide lockdown due to the coronavirus pandemic. As per the data released by Society of Indian Automobile Manufacturers (SIAM), passenger vehicle sales last month dropped to 1,43,014 units as compared with 2,91,861 units in March 2019, a decline of 51 per cent. Similarly, commercial vehicles sales last month saw a massive dip of 88.95 per cent at 13,027 units as against 1,09,022 units in March 2019. Two-wheeler sales saw a decline of 39.83 per cent at 8,66,849 units in March compared to 14,40,593 units in March 2019. <div type="Article" hostid="261" msid="75118046" title="HDFC is a hot stock— here's why the Chinese want shares in it" mstype="2" mssubtype="0"></div> Total sales across categories declined by 44.95 per cent last month to 1,050,367 units as against 19,08,097 units in March 2019."The month of March 2020 was one of the most challenging months for the auto sector as the 21-day lockdown resulted in bringing the production and sales of vehicles to a standstill in the last week," SIAM President Rajan Wadhera said.As the revenues took severe hit, the OEMs struggled on meeting fixed cost and working capital requirements, he added. "As per our estimates at SIAM, the auto industry is losing Rs 2,300 crore in production turnover for every day of closure," Wadhera said. The industry is engaged in a dialogue with the Government of India on policy measures which could minimise the impact of COVID-19 on the Indian economy and especially the domestic automobile industry, he added."There would be challenges on the supply side ; demand side and also on the issue of availability of finance which would all need to be addressed to bring back growth in the sector," Wadhera noted. In the last fiscal (April 1, 2019- March 31, 2020), the passenger vehicle sales saw a decline of 17.82 per cent to 27,75,679 units as compared with 33,77,389 units in the previous fiscal. Similarly, commercial vehicles sales declined by 28.75 per cent to 7,17,688 units in April-March 2020 compared to 10,07,311 units in April-March 2019. Two-wheeler sales also declined by 17.76 per cent to 1,74,17,616 units in last fiscal as against 2,11,79,847 units in 2018-19 fiscal. Total sales across categories last fiscal declined by 17.96 per cent to 2,15,48,494 units as compared with 2,62,66,179 units in 2018-19 financial year. SEE ALSO: <a href="https://www.businessinsider.in/business/news/dmart-has-closed-half-of-all-its-stores-in-india-due-to-coronavirus-lockdown/articleshow/75119106.cms" data-type="tilCustomLink" target="_blank">Half of all D-Mart stores are shut during coronavirus lockdown⁠— it shows that even the best in business are struggling</a> <a href="https://www.businessinsider.in/business/startups/news/vijay-shekhar-sharma-reveals-plan-to-spin-out-paytm-different-units-and-list-them-in-3-years/articleshow/75117395.cms" data-type="tilCustomLink" target="_blank">Vijay Shekhar Sharma reveals plan to spin out Paytm’s different units and list them in 3 years⁠</a>

India car sales fall by half in March hit by coronavirus pandemic, says SIAM

<ul class="summary-list"><li><a target="_blank" href="https://www.businessinsider.com/tesla">Tesla</a> sold about 386,800 cars in the first quarter of 2024.</li><li>That's about 90,000 fewer than investors had expected.</li></ul><a target="_blank" href="https://www.businessinsider.com/tesla-models">Tesla</a> delivered fewer cars to customers in the first three months of 2024 than Wall Street expected, it said Tuesday, marking the company's first year-over-year sales drop in nearly four years.About 386,800 cars were marked as sold in the first quarter <a target="_blank" href="https://www.businessinsider.com/tesla-ev-elon-musk-wall-street-worried-about-deliveries-2024-4">compared with estimates</a>, which averaged about 477,000, according to UBS. That's a 20.1% drop from the final quarter of 2023 and 8.4% from a year ago. It's also the first year-over-year decline in quarterly deliveries since 2020, as well as the company's lowest quarterly performance since 2022. Shares fell more than 7% in early trading following the news.<a target="_blank" href="https://www.businessinsider.com/ev-shoppers-dont-want-detroits-pickup-trucks-they-want-this-2024-3">Electric-vehicle sales have struggled industrywide,</a> and Elon Musk's automaker is no exception to economic forces. Over the past year, Tesla has cut the prices of its cars significantly, <a target="_blank" href="https://www.businessinsider.com/how-tesla-can-afford-prices-cuts-cost-of-goods-chart-2024-1">hurting its profits</a> in pursuit of sales."Although Tesla has announced it will raise prices in the U.S. and China effective April, we view it as an attempt to boost sales in March, rather than a sign of solid demand," Deutsche Bank analysts told clients ahead of the delivery figures' release.Tesla's profit growth relies largely on a <a target="_blank" href="https://www.businessinsider.com/tesla-elon-musk-to-build-affordable-electric-car-report-2023-11">new, unannounced car</a> at a much-cheaper price point — and sustained sales of its <a target="_blank" href="https://www.businessinsider.com/tesla-truck-cybertruck">Cybertruck</a>.Tesla has also ratcheted up pressure on its staff to <a target="_blank" href="https://www.businessinsider.com/elon-musk-tells-staff-customers-give-fsd-demo-email-report-2024-3">push its Full Self-Driving software on customers</a> when they take delivery of a car. The $12,000 ($200-a-month) add-on is an important revenue driver.In the past, Musk has emphasized the importance of Tesla's plans for autonomous driving. During an earnings call last year, Musk said that Tesla could theoretically sell its cars for no profit because of the technology."We're the only ones making cars that technically we could sell for zero profit for now, and then yield actually tremendous economics in the future through autonomy," Musk <a target="_blank" href="https://www.bloomberg.com/news/articles/2023-04-23/elon-musk-is-willing-to-bet-tesla-s-profits-on-a-driverless-dream">said</a> in April 2023. "I'm not sure how many of you will appreciate the profundity of what I've just said, but it is extremely significant."That is, so long as Tesla can escape a <a target="_blank" href="https://www.businessinsider.com/tesla-recall-fsd-ful-self-driving-issue-crash-software-update-2023-2">growing focus from safety regulators</a>, which forced a massive recall in March 2023.

Tesla Q1 sales miss Wall Street expectations &mdash; and clock the first year-over-year quarterly decline since 2020

Top 10 selling cars in India in June 2024 – Tata Punch leads the list

Shares of <keyword id="20021345" type="General" weightage="20" keywordseo="TVS-Motor-Company" source="keywords" meta.keywordsubtype="org" meta.entityname="TVS Motor Company" meta.hostid="261" meta.entityid="TVS Motor Company">TVS Motor Company</keyword> on Thursday climbed over 6 per cent after the company's consolidated <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword> increased 15 per cent for the fourth quarter ended March 2024. The stock went up 5.73 per cent to Rs 2,121.30 on the BSE. On the NSE, it climbed 6.32 per cent to Rs 2,123. TVS Motor Company on Wednesday said its net profit increased 15 per cent to Rs 387 crore for the fourth quarter ended March 2024, riding on robust sales. The company had reported a net profit of Rs 336 crore in the January-March period of the previous fiscal. Revenue from operations rose to Rs 10,042 crore in the period under review compared with Rs 8,031 crore in the fourth quarter of FY23. In the fourth quarter, the company said its overall <keyword id="19948209" type="General" weightage="20" keywordseo="two-wheeler" source="keywords">two-wheeler</keyword> and three-wheeler sales, including exports, grew by 22 per cent to 10.63 lakh units compared to 8.68 lakh units in the same period of the 2022-23 fiscal. For the year ended on March 31, 2024, the company posted a consolidated net profit of Rs 1,686 crore as against Rs 1,329 crore a year ago. Revenue from operations rose to Rs 39,145 crore in FY24 over Rs 31,974 crore in the 2022-23 fiscal. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/indegene-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109952516.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/indegene-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109952516.cms" target="_blank">Indegene IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/apps/news/google-wallet-launched-in-india-store-your-loyalty-cards-boarding-passes-and-more/articleshow/109941139.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/apps/news/google-wallet-launched-in-india-store-your-loyalty-cards-boarding-passes-and-more/articleshow/109941139.cms" target="_blank">Google Wallet launched in India – store your loyalty cards, boarding passes and more</a><a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank">Top-selling cars in India in April 2024 – Tata Punch continues to dominate</a>

TVS Motor shares climb over 6% after March quarter earnings

<ul class="summary-list"><li><keyword id="11900744" type="UNKNOWN" weightage="60" keywordseo="tesla" source="Orion">Tesla</keyword> will lose its title of the world's biggest EV maker by 2024, Bloomberg Intelligence concludes.</li><li>It expects <keyword id="12153707" type="UNKNOWN" weightage="60" keywordseo="volkswagen" source="Orion">Volkswagen</keyword> to become world's biggest producer by increasing European and Chinese sales.</li></ul>Tesla faces losing its crown as the world's biggest <keyword id="12205094" type="UNKNOWN" weightage="60" keywordseo="electric-car" source="Orion">electric car</keyword> maker to Volkswagen by 2024, according to new research.<a href="https://www.bloomberg.com/company/press/volkswagen-to-overtake-teslas-battery-electric-vehicle-sales-crown-by-2024-finds-bloomberg-intelligence/">A study by Bloomberg Intelligence</a> expects the German giant to double production to more than 2 million battery-powered vehicles in 2024, overtaking Tesla. Rising battery costs and limited production capacity meant most other competitors, including <keyword id="6355174" type="UNKNOWN" weightage="60" keywordseo="ford" source="Orion">Ford</keyword> and General Motors, lacked an incentive to catch up as quickly as Volkswagen, the report said. Tesla is therefore likely to remain the biggest EV seller in the US for some time.Volkswagen's production and sales are focused on Europe, and Bloomberg expects the company to expand further in China rather than America. US sales accounted for less than 10% of VW's total last year, <a href="https://annualreport2021.volkswagenag.com/divisions/brands-and-business-fields.html">according to its annual report</a>. Tesla sales in China, where it now makes two models, were likely to suffer as a result, Bloomberg said.Tesla was an early entrant to the EV revolution, and accounted for 75% of all electric cars sold in the US in the first quarter of 2022, <a href="https://www.kbb.com/car-news/tesla-dominant-electric-car-competition/">according to Kelly Blue Book</a>. Competitors are slowly taking advantage of their scale to eat into some of that market share, though. Ford has led the charge with its Ford F-150 Lightning, which has received <a href="https://www.google.com/search?q=ford+f-150+lighting+200%2C000+reservations+press+release&amp;rlz=1C5CHFA_enGB997GB998&amp;ei=-PKuYojpOL2HhbIP7auD4A8&amp;ved=0ahUKEwiIxduXoLn4AhW9Q0EAHe3VAPwQ4dUDCA8&amp;uact=5&amp;oq=ford+f-150+lighting+200%2C000+reservations+press+release&amp;gs_lcp=Cgdnd3Mtd2l6EAM6BwgAEEcQsAM6CggAEEcQsAMQyQM6BAghEBVKBAhBGABKBAhGGABQoxlYwDpg6jtoAnABeACAAbYCiAHDEpIBBzUuNy4yLjGYAQCgAQHIAQjAAQE&amp;sclient=gws-wiz">200,000 orders</a>, while GM is pushing ahead on its <a href="https://www.gm.com/stories/ultium-platform-reveal">next-generation "Ultium" batteries</a>. Volkswagen is also considering of its sports car maker Porsche, <a href="https://www.porsche.com/international/aboutporsche/e-performance/models/">which also has an electric model</a>. But Tesla has also expanded production and taken advantage of the economies of scale present in early adopters. It <a href="https://www.businessinsider.com/tesla-germany-berlin-gigafactory-ships-cars-265-day-delay-2022-3">began shipping cars from its Berlin gigafactory in March</a>, where it aims to produce 500,000 cars annually.Tesla CEO <keyword id="11897862" type="UNKNOWN" weightage="60" keywordseo="elon-musk" source="Orion">Elon Musk</keyword> has tried to bat off the threat of legacy automotive manufacturers, joking that he was getting "free advertising" from his competitors in a <a href="https://mobile.twitter.com/elonmusk/status/1537873373711196161">tweet on Friday</a> that highlighted similar marketing strategies among manufacturers. <a href="https://www.businessinsider.com/elon-musk-tesla-rivian-lucid-bankrupt-doomed-cut-costs-2022-6">In an interview</a> on the Tesla Owners Silicon Valley YouTube channel released on Tuesday, Musk said competitors Rivian and Lucid faced bankruptcy if they didn't cut costs.

You Searched For "Car sales March 2024" and got 7 results

Hyundai retakes the second spot from Tata Motors, records its highest-ever sales

Sourabh Jain

Top selling cars in India in March 2024 – Tata Punch leads the pack

Sourabh Jain

India car sales fall by half in March hit by coronavirus pandemic, says SIAM

PTI

Tesla Q1 sales miss Wall Street expectations and clock the first year-over-year quarterly decline since 2020

Graham Rapier,Nora Naughton

Top 10 selling cars in India in June 2024 – Tata Punch leads the list

Sourabh Jain

TVS Motor shares climb over 6% after March quarter earnings

PTI

Bumpy road ahead for Elon Musk as Tesla faces losing world's biggest electric car maker crown, study says

Ryan Hogg

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