While demand for two- and three-wheelers rose in single digits, tractor sales jumped 41% in Maharashtra, which is one of the top vehicle-buying states in India and saw ample monsoon. However, passenger vehicle retails at 36,513 units was down sharply by 16% and CV sales fell by 4.60% to 10,321 units.
10 Oct 2024 | 2035 Views | By Ajit Dalvi
Maharashtra, an automotive manufacturing hub and one of the key contributors to automobile sales in India, registered retail sales of 196,210 units in September 2024, down 1.16% year on year (September 2023: 198,514 units). This means Maharashtra’s share of auto sales was 11.38% in September 2024, up marginally from the ...
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Maharashtra, an automotive manufacturing hub and one of the key contributors to automobile sales in India, registered retail sales of 196,210 units in September 2024, down 1.16% year on year (September 2023: 198,514 units). This means Maharashtra’s share of auto sales was 11.38% in September 2024, up marginally from the 10.45% is contributed in September 2023. This retail sales data is as per FADA Research.
Of the five vehicle sub-segments, three – two- and three-wheelers, and tractors – registered YoY growth and two a decline in September 2024. Two-wheeler sales, with 138,004 units, were up 2.41% YoY and accounted for 11.45% of total India two-wheeler sales of 1.20 million units. Three-wheelers, with 6,517 units, were up 5.85% YoY and contributed 6.11% to all-India retails of 106,524 units. Maharashtra, which is among the states which has seen a bountiful monsoon, saw 4,855 tractors being sold last month, up by a robust 41.67% and accounted for 7.76% of total tractor sales in India.
In tandem with overall passenger vehicle sales in India in September – 275,681 units, down 18.81% YoY – Maharashtra too saw a sharp decline in sale of cars, SUVs and MPVs at 36,513 units, down 15.77% YoY and 6,836 fewer PVs sold than in September 2023. Maharashtra’s PV share of September 2024’s all-India retails was 13.24 percent. It’s a similar story on the commercial vehicle front – the 10,321 CVs sold in Maharashtra last month were down 4.60%, making for a 13.88% share of the overall CV sales in India.
Commenting on how September 2024 performed, FADA Maharashtra State Chairperson, Sachin Vasantrao Mahajan said, “There has been a significant decline in PV sales followed by CV sales which have fallen as compared to last year. Good rainfall in the month of September has boosted tractor sales and have shown some excellent retails. The 2W and 3W segment has not been able to show noticeable grow in spite of the Ganpati festival. There has been an overall degrowth as compared to last year.”
India Auto Inc's September retails lowest in 9 months and down 9%
September was a poor month for India Auto Inc with the lowest retail sales in the first nine months of this year. At a combined 17,23,330 units for two- and three-wheelers, passenger vehicles, commercial vehicles and tractors, India Auto Inc’s September 2024 numbers are a sharp 9.26% year-on-year decline, and an 8.89% decline month on month (August 2024: 18,91,499 units).
Of the five vehicle segments, only tractors (65,542 units, up 14.69% YoY) registered proper growth. While two-wheelers demand was down 8.51% at 1.20 million units, three-wheelers with 106,524 units saw flat sales and a minimal 0.66% uptick. Passenger vehicle sales (275,681 units) witnessed a sharp fall of nearly 19% to 275,681 units as a result of selling 63,862 fewer units than it did in September 2023. And, commercial vehicle retail sales at 74,324 units were down 10.45% YoY.