August 2024 Sales Analysis:Maruti Suzuki India, a major player in the Indian car industry, saw a sharp decline in sales in August 2024. Domestic passenger vehicle wholesalers fell by 8% between August 2023 and August 2024, from 156,114 units to 143,075 units, according to the business. The total sales, which include exports, also experienced a fall, falling by 4% year over year to 181,782 units from 189,082 units during the same time last year.
The analysis will look into reasons that support this decrease and compare it with other countries’ competitors such as Kia India and JSW MG Motor India that have performed differently. Financial statements such as profit and loss account, more importantly, shareholding pattern among others would be analysed in order for investors’ decisions to be made.
Table of Contents
Maruti Suzuki Sales Analysis: August 2024
Maruti Suzuki India’s sales performance for August 2024 is reported to have declined, with overall sales reducing by four percent compared to August last year. In August 2024, the company sold 181782 units as opposed to the 189082 units it sold during that same time frame in the previous year. This decline can mainly be connected to reduced local passenger car sales.
Detailed Sales Breakdown:
- Domestic Sales: 143,075 units (8% decline from 156,114 units in August 2023)
- Exports: 26,003 units (6% increase from 24,614 units in August 2023)
- Mini Segment (Alto, S-Presso): 10,648 units (12.8% decline from 12,209 units)
- Compact Segment (Baleno, Celerio, Dzire, Ignis, Swift): 58,051 units (20% decline from 72,451 units)
- Utility Vehicles (Grand Vitara, Brezza, Ertiga, Invicto, Fronx, XL6): 62,684 units (6.7% increase from 58,746 units)
- Eeco: 10,985 units (7.4% decline from 11,859 units)
- Light Commercial Vehicle (Super Carry): 2,495 units (2.7% decline from 2,564 units)
Kia India Sales Performance: August 2024
In August 2024, Kia India showed strong growth, increasing its domestic sales by 17.19%. From 19,219 units in August 2023 to 22,523 units in August 2024, the company sold more units. Strong sales of Kia’s small SUV, the Sonet, drove the company’s expansion.
Detailed Sales Breakdown:
- Domestic Sales: 22,523 units (17.19% increase from 19,219 units in August 2023)
- Exports: 2,604 units
- Sonet: 10,073 units
- Seltos: 6,536 units
- Carens: 5,881 units
- EV6: 33 units
JSW MG Motor India Sales Report: August 2024
In August 2024, JSW MG Motor India, which places a strong emphasis on new energy vehicles (NEVs), reported steady sales. Over 35% of the 4,571 automobiles the firm sold were electric or hybrid cars.
Detailed Sales Breakdown:
- Total Sales: 4,571 units
- NEVs (Electric and Hybrid Vehicles): Approximately 1,600 units
- Key Models: Hector, Hector Plus, Astor, Gloster, ZS EV, Comet
Sales Comparison: Maruti Suzuki, Kia India, and JSW MG Motor India
The table below provides a detailed comparison of the sales performance of all three companies in August 2024:
| Segment | Maruti Suzuki | Kia India | JSW MG Motor India |
| Total Sales (Domestic + Exports) | 181,782 | 25,127 | 4,571 |
| Domestic Sales | 143,075 | 22,523 | 4,571 |
| Mini Segment | 10,648 | N/A | N/A |
| Compact Segment | 58,051 | N/A | N/A |
| Utility Vehicles | 62,684 | 22,523 | N/A |
| Light Commercial Vehicles | 2,495 | N/A | N/A |
| NEVs (Electric and Hybrid Vehicles) | N/A | 33 | 1,600 |
| Exports | 26,003 | 2,604 | N/A |
Growth Outlook and Strategic Recommendations
In spite of the ongoing recession, Maruti Suzuki has a solid brand image and a wide network of distribution for revival. Strategic initiatives that the organization may wish to embrace include:
- Innovation and R&D: Increasing allocation to research and development with the aim of launching new models, more specifically in the electric vehicle (EV) segment, which is witnessing a rapid uptake within India.
- Supply Chain Optimization: Taking care of any possible supply chain problems affecting production plus distribution so as to facilitate an uninterrupted availability of vehicles for sale as per customer’s demand on time.
- Customer Engagement: Reinforcing customer engagement initiatives aimed at restoring confidence plus loyalty especially in those areas where there was a decline.
- Expansion in Emerging Markets: Taking advantage of growing exports by entering new and emerging markets with a high demand for affordable and reliable cars.
Conclusion
An 8% decline in domestic sales by Maruti Suzuki during August 2024 serves as an alarm for the automaker to reconsider its plan of action, especially in regard with mini and compact segments. Nevertheless, strong export results and positively performing utility vehicles provide hope. Through innovation, supply chain optimization and enhancing customer engagement, it is possible for the company to ride through this hard phase and come out stronger.
In comparison to maruti suzuki, competitors such as Kia India and JSW MG Motor India are tapping market opportunities in compact SUV and NEV segments. Consequently, as the Indian automobile industry undergoes transformations if companies adapt to new consumer preferences, they will be ahead of their peers.
