Indian passenger car sales as represented by dispatches from factory to dealers registered a decline in August this year, according to preliminary information sourced from industry on Tuesday, September 3.
Provisional estimates indicated that total passenger car sales in August came to 355,000 units, around 2-3 percent lower than the corresponding month of 2023.
The country’s largest passenger car maker in terms of market share, Maruti Suzuki India Limited (MSIL), recorded the sharpest fall in sales by 8.4 percent year on year to 143,075 units in August.
The second-largest car maker, Hyundai Motors India Limited (HMIL), recorded a sales decline of eight percent year on year to 49,525 units, while Tata Motors Limited’s sales were down 3.2 percent to 44,486 units.
In contrast, smaller car makers in terms of market share like Toyota Kirloskar Motors Limited sold 28,589 units, a rise of 36.3 percent, and Kia Motors sales were up 17.2 percent to 22,523 units.
Partho Banerjee, senior executive officer (marketing and sales) at MSIL said the company had reduced its dispatches to dealers by about 13,000 units in August.