OWING to the lack of fresh demand and the high base of last year, car sales growth remained in the slow lane in June 2024. According to industry figures, total domestic passenger vehicle (PV) sales last month stood at 340,784 units, up by about 12,000 units or 3.6%, when compared to June 2023 sales (328,710 units).
The limited growth comes even as original equipment manufacturers (OEMs) flooded the market with attractive discounts and offers.
While the country's largest carmaker Maruti Suzuki (MSIL) reported a 3.1% increase in domestic passenger vehicle sales to 137,160 units in June 2024 and Hyundai barely managed to remain in green at 50,103 units, homegrown automajor Tata Motors witnessed its sales plummeting by 8% to 43,524 units. At 43.5K units, this is the lowest sales for Tata Motors in calendar year 2024.
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