News & Top StoriesTop 10 Automobile Brands
The brand-wise split of the January 2024 vehicle sales numbers suggests that several automakers had a little increase in sales at the beginning of the year. As per usual, Maruti continued to top the list of best-selling vehicles; however, Tata lost the position it had taken over from Hyundai in December 2023. The details of the top-selling auto brands in January 2024 are provided here.
| Brand | January 2024 | December 2023 | MoM Growth (%) | January 2023 | YoY Growth (%) |
| Maruti | 1,66,802 | 1,04,778 | 59.2 | 1,47,348 | 13.2 |
| Hyundai | 57,115 | 42,750 | 33.6 | 50,106 | 14 |
| Tata | 53,635 | 43,471 | 23.4 | 47,990 | 11.8 |
| Mahindra | 43,068 | 35,171 | 22.5 | 33,040 | 30.4 |
| Kia | 23,769 | 12,536 | 89.6 | 28,634 | -17 |
| Toyota | 23,197 | 21,372 | 8.5 | 12,728 | 82.3 |
| Honda | 8,681 | 7,902 | 9.9 | 7,821 | 11 |
| Renault | 3,826 | 1,988 | 92.5 | 3,008 | 27.2 |
| MG | 3,825 | 4,400 | -13.1 | 4,114 | -7 |
| Volkswagen | 3,267 | 4,930 | -33.7 | 2,906 | 12.4 |
Takeaways
- With sales of about 1.67 lakh vehicles in January 2024, Maruti is still in the lead. The automaker had a significant increase in month-over-month (MoM) sales of nearly 60% and year-over-year (YoY) sales of more than 13%.
- This month, Hyundai took back the second spot among the highest-ranking vehicles. Its annual sales increased by 14%, while its monthly sales increased by nearly 34%.
- Even though Tata dropped to third place, it was nevertheless able to achieve a positive increase in sales numbers for both the MoM (more than 23 percent) and YoY (almost 12 percent), resulting in total sales of more than 50,000 units.
Mahindra
- In January 2024, Mahindra’s sales surpassed 40,000 units. Sales YoY increased by more than 30%, while MoM increased by 22.5 percent.
- As of January 2024, Kia had sold over 23,000 units per month, nearly doubling its monthly sales. However, its YoY sales data decreased by 17% from January 2023 to that same month.
- In January of this year, Toyota’s YoY sales increased by an astounding 82 percent, and its monthly sales increased by 8.5 percent. Additionally, it was the last brand to sell 10,000 units.
- Sales for Honda increased both YoY and MoM in January. Sales rose by over 10 percent every month and 11 percent on an annual basis.
- The last company on the list whose sales did not decrease in any way is Renault. Its annual sales increased by more than 27%, and its monthly sales nearly doubled.
- The only brand that saw declines in sales both monthly and annually was MG. Both its annual and month-over-month sales decreased by more than 13 percent.
- Last but not least, Volkswagen is now ranked tenth among the top-selling brands. Even though its monthly sales decreased by more than 33%, its annual sales statistics increased by more than 12%.