According to recent data, auto sales in November 2024 showed growth for several companies. Bajaj Auto and Mahindra clocked gains, with Maruti Suzuki experiencing a 10% increase in wholesale sales for the same period. Market analysts from Citibank have preferred Maruti Suzuki, M&M, and Eicher due to their strong sales performance in November. Tata Motors and Maruti Suzuki saw an uptick in car and SUV sales, while Hyundai’s sales slumped.
Passenger vehicle sales in November 2024 accelerated by 4% to 3.5 lakh units, with a steady demand for personal vehicles driving the growth. The increase in sales can be attributed to various factors, including festive season sales, demand for compact and mid-size cars, and the rising popularity of electric vehicles. Despite some setbacks, the Indian auto industry has been experiencing a consistent growth, driven by consumer demand and government incentives.
Overall, the sales data for November 2024 suggests that the auto industry is moving in a positive direction, with key players like Maruti Suzuki and Tata Motors performing well. The sector is expected to continue growing, driven by consumer demand and innovative product offerings from manufacturers.