Maruti Suzuki reports 8% decline in August sales, while Toyota, Kia, JSW MG show positive trends

Country’s largest passenger vehicle maker, Maruti Suzuki India (MSIL), reported an 8.35 per cent year-on-year (y-o-y) decline in domestic wholesales to 1,43,075 units in August, down from 1,56,114 units in the same month last year.

Sales of compact vehicles (such as WagonR, Swift, Baleno, and Dzire) declined by 20 per cent y-o-y to 58,051 units during the month, compared to 72,451 units in the same month last year.

Sales in the mini segment (Alto, S-Presso) also declined by around 13 per cent y-o-y to 10,648 units in August, compared to 12,209 units in August last year.

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Utility vehicles (such as Brezza, Ertiga, Grand Vitara, Jimny, and XL6) was the only segment that grew by around 7 per cent y-o-y to 62,684 units during the month, compared to 58,746 units in August 2023.

However, Toyota Kirloskar Motor (TKM) continued its growth momentum with a wholesale figure of 28,589 units in domestic sales, a jump of around 25 per cent y-o-y compared to 22,910 units in August last year.

“As we approach the festive season, demand for our products remains buoyant, and we are already witnessing increased consumer interest and higher footfall across all our dealerships. Sports utility vehicles (SUVs) and multi-purpose vehicles (MPVs) continue to significantly contribute to our sales numbers, reflecting a growing preference for these segment of vehicles,” Sabari Manohar, Vice President, Sales-Service-Used Car Business, TKM, said.

Interestingly, this trend is not limited to major urban centres but extends to tier-II and tier-III markets as well, demonstrating widespread customer acceptance, he said.

Kia India also registered a y-o-y growth of 17.19 per cent in its domestic sales, reaching 22,523 units in August compared to 19,219 units sold in the same month last year.

“Our continuously strong sales performance reflects the trust and confidence our customers place in the Kia brand. This success is a testament to the company’s strategic optimisation of the products, making our vehicles the most compelling and value-for-money,” Hardeep Singh Brar, Senior Vice President and National Head of Sales & Marketing, Kia India, said.

JSW MG Motor India also announced a 9 per cent y-o-y growth in its retail sales during August, reaching 4,571 units compared to 4,185 units in the same month last year.