April 2024 Automotive Trends: SUV Dominance and Segment Shifts

Explore the April 2024 automotive market trends, where SUV sales surged by 19%, while hatchbacks and sedans saw a significant decline. Discover the performance of major carmakers like Maruti, Hyundai, and Toyota.


Analyzing April 2024: SUVs Lead, Hatchbacks Lag Behind

April 2024 has been a defining month for the automotive industry, particularly for the SUV segment. As consumer preferences shift towards larger and more versatile vehicles, SUVs have emerged as the undisputed leaders in the market. While hatchbacks and sedans face declining sales, the SUV segment continues to flourish, capturing a substantial share of the market. This blog delves into the sales trends of April 2024, highlighting the performance of key players like Maruti, Hyundai, and Toyota, and examining the factors behind the shifting dynamics in the automotive landscape.


April 2024 Sales Overview: SUVs Dominate the Market

In April 2024, SUVs captured a remarkable 63% market share, with a 19% growth compared to the previous year. Indian carmakers dispatched 213,117 SUVs and MPVs, reflecting a robust demand for utility vehicles. However, the sales of hatchbacks and sedans experienced a steep 22% decline, showcasing a significant shift in consumer preferences.

Sales Data Overview

ManufacturerApril 2024 Total PV SalesApril 2023 Total PV SalesApril 2024 SUV SalesApril 2023 SUV SalesSUV Sales GrowthHatchback & Sedan Sales (April 2024)Hatchback & Sedan Sales (April 2023)Growth/Decline in Hatchback & Sedan Sales
Maruti Suzuki137,952137,32056,553N/A54%56,95374,935-24%
Mahindra41,00834,69441,00834,69418%N/AN/AN/A
Hyundai50,20127,30433,78827,30424%14,84218,396-19%
Tata Motors33,78830,748N/AN/A10%14,09516,259-13%
Kia19,96823,21619,96823,216-14%N/AN/AN/A
Toyota18,67613,89614,11710,180N/AN/AN/AN/A
Volkswagen1,8661,5511,8661,55120%1,1831,481-20%
Honda4,3517,0441,731N/AN/A2,6205,313-51%

Maruti Suzuki

Maruti Suzuki reported flat overall passenger vehicle (PV) sales in April 2024, with 137,952 units sold compared to 137,320 units in April 2023. The company’s SUV portfolio, including models like the Brezza, Ertiga, and Grand Vitara, saw a strong 54% year-on-year growth, with 56,553 units sold. These SUVs accounted for 41% of Maruti’s total PV sales, mitigating the impact of declining hatchback and sedan sales, which fell by 24% to 56,953 units.

Mahindra

Mahindra dispatched 41,008 SUVs in April 2024, marking an 18% year-on-year increase from 34,694 units in FY2023. This consistent performance highlights Mahindra’s strong position in the competitive SUV market. The newly launched XUV 3XO is expected to further strengthen Mahindra’s foothold in the compact SUV segment.

Hyundai

Hyundai reported that SUVs accounted for 67% of its total PV sales of 50,201 units in April 2024. With 33,788 units sold, Hyundai’s SUV sales grew by 24% compared to April 2023. The facelifted Creta and the Venue and Exter compact SUVs saw substantial growth, with the Venue and Exter experiencing a 63% increase in sales. In contrast, Hyundai’s hatchback and sedan sales declined by 19% year-on-year.

Tata Motors

Tata Motors dispatched an estimated 33,788 units in April 2024, reflecting a 10% increase from April 2023. Despite a slowdown in Nexon sales, an upcoming CNG model is expected to boost its numbers. The Punch, with its expanding CNG and EV variants, continues to perform well against competitors.

Kia

Kia’s UV sales in April 2024 were 19,968 units, down 14% year-on-year. The Sonet remained the bestseller, although its sales declined by 19%. The Seltos and Carens MPV also saw declines, while the EV6 recorded a significant drop in sales.

Toyota

Toyota Kirloskar Motor sold 18,676 passenger vehicles in April 2024, with UVs making up 76%—up from 73% in April 2023. The Innova Crysta and Innova Hycross MPVs saw a 47% year-on-year increase, while the Rumion MPV and Urban Cruiser Hyryder also performed well. The Glanza hatchback and Camry sedan were the only non-SUVs to register growth, albeit on a much smaller scale.

Volkswagen

Volkswagen India’s UV sales grew by 20% year-on-year to 1,866 units, driven by the Taigun and Tiguan. However, the Virtus sedan saw a 20% decline in sales.

Honda

The Elevate SUV boosted Honda’s UV segment with 1,731 units sold in April 2024. However, Honda’s sedan sales fell by 51%, with significant declines for both the Amaze and the City models.

SUV Sales vs. Sedan and Hatchback Sales

The UV market has seen explosive growth over the past decade, from 552,135 units in FY2015 to a record 2,520,691 units in FY2024, a 356% increase. FY2021 marked the first time SUV and MPV sales surpassed one million units, continuing with strong double-digit growth in subsequent years. FY2024 concluded with 26% growth at 2.52 million units.


April 2024 Automotive Market: SUVs Steal the Spotlight

The automotive market in April 2024 clearly indicates a shift towards SUVs, driven by changing consumer preferences and the increasing versatility of utility vehicles. As SUVs continue to capture a larger market share, carmakers are strategically expanding their SUV portfolios to meet this growing demand. The performance of major players like Maruti, Hyundai, and Toyota underscores the importance of the SUV segment in the current market dynamics. As we move forward, it will be interesting to see how the market evolves and how carmakers adapt to these trends, ensuring they remain competitive and meet consumer expectations.

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