A rise in sales of sport utility vehicles (SUVS) and better supply situation drove this.
Sales in February last year were 335,324 units. This was the third-highest sales in any month - after January this year with 394,571 units and October last year, during the festival period, with 391,811 units.
During February alone, the share of SUVs in sales was around 51.5 per cent. Rural growth cumulatively in 2023-24 was 11.7 per cent against urban growth of 8 per cent owing to higher infrastructure spending by the government in rural areas. "The major drivers are positive economic growth, as it has a high correlation with growth in the passenger segment. Now, there seems to be a better supply situation as well, so there is a lot of pentup demand. Thirdly, the number of models in the SUV space helped overall growth," Shashank Srivastava, senior executive officer (marketing and sales), Maruti Suzuki India (MSIL), told Business Standard.
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