Passenger vehicles record 11.3% growth in February 2024, two-wheelers record 35% growth

• The Indian passenger vehicles segment has recorded good growth in February 2024.
• Maruti Suzuki continues to lead the passenger vehicle segment with Tata Motors at the second spot.
• The two-wheeler segment also recorded good growth with Hero leading the segment.

The Indian auto companies continued to perform well in February 2024, starting the year on a positive note. February 2024 has emerged as the month with the highest-ever sales volume in February so far.

The sale of passenger vehicles increased to 3,73,177 units in February 2024, up from 3,35,324 units in February 2023, recording a year-on-year growth of 11.3%.

Maruti Suzuki tops the list

Maruti Suzuki has once again emerged as the leader with a sale of 1,60,271 in February 2024, up from 1,47,467 vehicles sold in February 2023, recording a growth of 8.7% year-on-year.

Tata Motors has emerged as the second biggest company in the passenger vehicle segment, beating Hyundai.

Tata Motors reported a sale of 51,267 vehicles in February 2024, up from 41,862 vehicles sold in February 2023, registering a growth of 19.6%. Out of this, Tata has sold 6,023 electric vehicles in February 2024, up from 5,318 EVs in February 2023.

Hyundai on the other hand reported sales of 50,201 vehicles, up from 47,001 vehicles sold in February 2023, registering a 6.8% year-on-year growth.

Mahindra and Mahindra recorded a huge increase in sales, from 30,358 vehicles in February 2023 to 42,401 vehicles in February 2024, recording a 39.7% increase.

Toyota is at the fifth position with a sale of 23,300 vehicles in February 2024, up from 15,338 vehicles in February 2023, recording a 51.9% growth in sales.

MG Motor India recorded a modest 8% growth in sales, from 4,193 vehicles sold in February 2023 to 4,532 vehicles sold in February 2024.

Two-wheeler sales report good growth

Apart from the passenger vehicles segment, even the two-wheeler segment reported good growth in February 2024. The cumulative sales in the two-wheeler segment increased from 10,68,015 vehicles in February 2023 to 14,48,479 vehicles in February 2024, recording a growth of over 35%.

Hero emerged as the market leader with 4,45,257 vehicles in February 2024, up from 3,82,317 vehicles in February 2023. Honda is next on the list with 4,13,967 vehicles in February 2024, followed by TVS with 2,67,502 vehicles.

SEE ALSO:

Realme 12+ 5G with Dimensity 7050 chipset to launch in India on March 6

Xiaomi 14 to launch in India on March 7, to take on the Galaxy S23 and OnePlus 12

Upcoming cars launching in India in March 2024