Even as OEMs optimize vehicle dispatches to dealers in an effort to reduce high inventory levels, demand for popular SUVs and MPVs continues to power wholesales. The top six manufacturers, each with six-figure sales, have accounted for 94% of total utility vehicle sales in the first five months of FY2025. We also reveal the current Top 20 UVs in India.
16 Sep 2024 | 4889 Views | By Ajit Dalvi
The utility vehicle (UV) segment, with sustained double-digit growth, continues to act as a buffer for declining hatchback and sedan sales. At 1.10 million units, wholesales or OEM vehicle dispatches to showrooms in the April-August 2024 period were up 15% year on year (April-August 2023: 963,277 units). UV dispatches account ...
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The utility vehicle (UV) segment, with sustained double-digit growth, continues to act as a buffer for declining hatchback and sedan sales. At 1.10 million units, wholesales or OEM vehicle dispatches to showrooms in the April-August 2024 period were up 15% year on year (April-August 2023: 963,277 units). UV dispatches account for 63% of overall passenger vehicle sales of 17,39,044 units in the first five months of FY2025 compared to 57% in April-August 2023.
Of FY2024’s record 4.21 million passenger vehicle sales (up 8.4% YoY), the UV segment had accounted for a 60% share (25,20,691 units, up 26% YoY). After the first five months of FY2025, UV wholesales are already 44% of their FY2024 total. The total would likely have been higher but for the fact that OEM dispatches to showrooms across the country have been lower in July and August as a result of dealer inventories hitting new highs and manufacturers optimising the same.
The top six UV manufacturers, each with six-figure wholesales, together account for 10,35,667 units (up 17% YoY) or an overwhelming 94% of total UV dispatches in the past five months, leaving the balance to the 10 other OEMs. Let’s take a closer look at each of these top six manufacturers.
MARUTI SUZUKI INDIA: 282,116 units, up 14% YoY
April-August ’24 market share: 25.55% vs 25.66% a year ago
Brezza, Ertiga and Fronx sales up. Grand Vitara, XL6, Jimny and Invicto see YoY decline
Dispatches for the Grand Vitara midsize SUV at 45,484 units are down 5% as are for the XL6 (15,736 units, down 11%). Jimny wholesales are down sharply by 59% YoY to 4,033 units and the rebadged Invicto premium MPV too is down – by 39% YoY – to 939 units. This performance has meant that the company’s UV market share has remained stagnant at 25.63% versus 25.66% in April-August 2023.
MAHINDRA & MAHINDRA: 209,148 units, up 20% YoY
April-August ’24 market share: 19% vs 18% a year ago
Scorpio remains the best-selling Mahindra SUV, 3XO compact SUV takes second position
The Scorpio N and Classic are the ones with the highest volume – 66,855 units, up 39% YoY. The No. 2 best-seller is the XUV300/3XO with 41,501 units, up by a strong 67% YoY. The hardy Bolero, with 38,352 units, is next but sales are down 13% YoY. The XUV700 flagship, which currently has a special offer going to accelerate sales, saw 33,846 units sold for a 21% YoY increase. The Thar, which is now also available as a five-door (Thar Roxx) clocked sales of 25,939 units, up 5%. Estimated dispatches of the all-electric XUV400 at 2,584 units are down 33% on year-ago sales of 3,871 units.
TATA MOTORS: 169,879 units, up 19% YoY
April-Aug ’24 market share: 15.38% vs 14.77% a year ago
Punch pumps up the volume, Nexon wholesales decline 4%, Curvv checks in with 3,455 units
HYUNDAI MOTOR INDIA: 167,470 units, up 11% YoY
April-August ’24 market share: 15.16% vs 15.65% a year ago
Hyundai just 1,046 SUVS ahead of Tata Motors, Creta and Exter sole models to see YoY growth
The Creta, which is India’s best-selling midsize SUV, saw dispatches of 80,514 units, up 13%, with strong momentum coming from the launch of the MY2024 model in January this year. The Exter, launched in July 2023, continues to see demand – the 35,030 units are up 143% YoY (July-August 2023: 14,430 units) given that it was launched only in July 2024.
All the other four models see YoY declines – the Venue compact SUV (46,262 units, down 13%), Alcazar (4,735 units, down 50%), Tucson (737 units, down 63%) and the all-electric Ioniq.
KIA INDIA: 103,798 units, up 3% YoY
April-Aug ’24 market share: 9.40% vs 10.44% a year ago
Sonet compact SUV holds the fort for Kia, continues to outsell Seltos
TOYOTA KIRLOSKAR MOTOR: 103,256 units, up 47% YoY
April-Aug ’24 market share: 9.35% vs 7.29% a year ago
Combined sales of Hyryder, Taisor and Rumion at 44,931 units more than Innova’s 44,662 units
The top Toyota model is the popular Innova Crysta and Hycross – the 44,662 units are up 16% YoY and account for 43% of TKM’s UV sales in the April-August 2024 period. The Hyryder, with 25,386 units (up 58%) is next with a 24% share, followed by the Taisor (11,218 units, 11% share) and the Rumion MPV (8,327 units, 8%). The three rebadged models together – at 44,931 units – account for 43.51% of TKM’s dispatches in the first five months of the year.
Meanwhile, combined sales of the Fortuner midsize SUV, Hilux pickup and the Vellfire luxury MPV at 13,663 units were down 12% YoY.
REVEALED: INDIA'S TOP 20 UTILITY VEHICLES
There are an estimated over 100 SUV and MPV models and over 800 variants in the highly competitive and value-conscious Indian market. Which is why achieving market-leading status is a big thing and these Top 20 UVs exemplify just that. In the April-August 2024 period, they cumulatively account for 968,181 units or 88% of the total 1.1 million UVs sold.
The segment-wise model split reveals that both compact SUVs and midsize SUVs have eight models each in the Top 10 listing. The compact SUV lot is led by the Tata Punch, which is currently India’s best-selling SUV. It is followed by the Maruti Brezza and Fronx, Tata Nexon, Hyundai Venue, Kia Sonet, Mahindra 3XO and Hyundai Exter.
The midsize SUVs are led by the Hyundai Creta, which is followed by the Mahindra Scorpio, Maruti Grand Vitara, Mahindra Bolero and XUV700, Kia Seltos, Toyota Hyryder, and the Mahindra Thar.
Four MPVs wrap up the Top 20, led by the Toyota Innova Crysta / Hycross, Maruti Ertiga, Kia Carens and Maruti XL6.
