Maruti, Hyundai Sales Dip; SUVs Drive Tata, M''M Growth (Mar 2025)

New Delhi, Apr 1 (PTI) Leading carmakers Maruti Suzuki and Hyundai Motor India on Tuesday reported a year-on-year decline in vehicle dispatches to dealers in March amid inventory correction and softening demand.

Mahindra & Mahindra and Tata Motors, on the other hand, reported an increase in domestic passenger vehicle dispatches to dealers on the back of demand for their SUV models.

Maruti Suzuki India, the country's largest carmaker, said its total domestic passenger vehicle dispatches to dealers declined by 1 per cent to 1,50,743 units as compared with 1,52,718 units in the year-ago month. Sales of mini segment cars, comprising Alto and S-Presso, declined marginally to 11,655 units against 11,829 units in March 2024.

Sales of compact cars, including Baleno, Dzire, Ignis, and Swift, also declined to 66,906 units from 69,844 units in the year-ago month.

Utility vehicles, consisting of Grand Vitara, Brezza, Ertiga and XL6, however, increased to 61,097 units last month as against 58,436 units in March 2024.

For FY25, total domestic passenger vehicle sales stood at 17,60,767 units as compared with 17,59,881 units in 2023-24 fiscal.

Maruti Suzuki India Senior Executive Officer (marketing & sales) Partho Banerjee said the company is now focusing on retail sales with inventory levels cut down to 27 days.

He noted that the automaker has surpassed the annual total sales milestone of 20 lakh units for the second consecutive year. The company also witnessed the highest-ever annual domestic sales of 17,95,259 units in FY25, he added.

On sales outlook for the current fiscal, Banerjee said the industry is not expecting very high growth rates for the year.

The industry growth is likely to be in the range of 1-2 per cent in FY26, he stated. The total industry volumes stood around 3.8-3.9 lakh for March and at around 43 lakh unit mark for FY25.

He noted that the last few years witnessed high growth due to pent up demand after the COVID period and now the industry is witnessing a moderation in growth levels.

On EVs, he noted that the penetration has grown to 2.7 per cent and the segment could see enhanced growth with the coming up of charging infrastructure all across the country..

Banerjee stated that every third vehicle being sold by the company in the domestic market is now a CNG model. The company's total domestic passenger vehicle sales stood at 17,60,767 units last fiscal compared with 17,59,881 units in 2023-24 fiscal.

Hyundai Motor India said its domestic dispatches to dealers stood at 51,820 units in March as compared with 53,001 units in the year-ago period.


The company's domestic sales stood at 5,98,666 units last fiscal, down from 6,14,721 units in FY24.

"Solidifying our position further in India, HMIL continued its reign as the second largest passenger vehicle OEM in FY 24-25," Hyundai Motor India Whole-time Director and Chief Operating Officer Tarun Garg said.

Mahindra & Mahindra reported an 18 per cent rise in domestic passenger vehicle sales at 48,048 units in March, as compared to 40,631 units in the same month last year. For the fiscal 2024-25, the total domestic PV sales were at 5,51,487 units, as against 4,59,877 units in 2023-24, a growth of 20 per cent.

"The year ended on a very positive note with the company selling over 5 lakh SUVs in the domestic market for the first time ever," M&M President, Automotive Division, Veejay Nakra said.

Tata Motors said its passenger vehicle sales in the domestic market rose 3 per cent year on year to 51,872 units in March. For FY25, the passenger vehicle sales dipped 3 per cent to 5,56,263 units last fiscal from 5,73,495 units in FY24.

"Looking ahead, overall demand growth will be shaped by macroeconomic factors such as consumption growth, inflation, infrastructure spending and global geopolitics," Tata Motors Passenger Vehicles MD Shailesh Chandra said.

However, industry momentum is expected to be driven by continued innovation in line with evolving customer preferences, he added.

SUVs, CNG, and EVs will remain key growth drivers, fueling the industry's expansion, Chandra noted.

"With a strategically aligned product portfolio, supported by new nameplate launches and our multi-powertrain strategy, Tata Motors is well positioned to seize market opportunities and sustain its momentum," he added.

Kia India on Tuesday said its dispatches to dealers in the domestic market increased 19 per cent year-on-year to 25,525 units in March. The company dispatched 21,400 units to its dealers in March 2024. For FY25, the company said it sold 2,55,207 units, registering a 4 per cent growth compared with 2,45,634 units in 2023-24.

Toyota Kirloskar Motor said it sold 30,043 units last month, a growth of 11 per cent, as compared with 27,180 units in the same month last year.

The company said it dispatched 3,37,148 units to dealers last fiscal year, a growth of 28 per cent as compared with 2,63,512 units in FY24.

"The growth has been fuelled by the strong and consistent adoption of SUVs, MPVs and hybrids, further reinforced by robust export momentum and deeper engagement in Tier II and III cities—highlighting the increasing relevance of our diverse product portfolio," Toyota Kirloskar Motor Vice President, Sales-Service-Used Car Business & Profit Enhancement, Varinder Wadhwa said in a statement.

JSW MG Motor India reported a 9 per cent rise in wholesales at 5,500 units in March, as compared to 5,050 units sold in the same month last year.