Maruti Suzuki's net profit increased by 64% to Rs 1,32,094 million in FY2023-24.

For the first time, Maruti Suzuki’s annual sales surpassed the 2 million unit mark in FY2023-24. The company also registered its highest-ever exports, net sales and net profit.

Maruti Suzuki sold 21,35,323 vehicles during the year, a growth of 8.6% compared to FY2022-23. The carmaker sold 18,52,256 units in the domestic market, while exports stood at 2,83,067 units.

Maruti Suzuki registered net sales of Rs 1,349,378 million in FY2023-24, a growth of 19.9% over the net sales of Rs 1,125,008 million in FY2022-23. 

The company’s net profit increased by 64% from Rs 80,492 million in FY2022-23 to Rs 1,32,094 million in FY2023-24. The steep rise in net profit can be attributed to higher sales volume, favourable commodity prices, cost reduction efforts and higher non-operating income.

Maruti Suzuki’s fourth-quarter sales increased by 13.4% compared to the previous year. Domestic sales stood at 5,05,291 units, and 78,740 units were exported.

Net sales during the quarter stood at Rs 3,66,975 million compared to Rs 3,08,218 million in the same period of the previous year. Net profit also increased by 47.8%.

FADA has also released the vehicle retail data for FY2024, which shows an overall growth of 10.29%.

According to the data released by the Federation of Automobile Dealers Associations (FADA), vehicle retail sales grew by 3.14% in March 2024 compared to the same month last year.

Overall sales for the month of March 2024 stood at 21,27,177 units, compared to 20,62,409 units in March 2023.

Tractor sales were down by 3.33%, from 81,148 units in March 2023 to 78,446 units last month.

Two-wheeler sales went up by 5.44% to 15,29,875 units from 14,50,913 units in March 2023.

Three-wheeler sales were up by 17.13% in March 2024. 1,05,222 units were sold, compared to 89,837 units in March 2023.

Passenger vehicle sales went down by 6.17% compared to the previous year. 3,22,345 units were sold last month, compared to 3,43,527 units in March 2023.

Commercial vehicle sales also decreased by 5.87%. 91,289 units were sold in March 2024, compared to 96,984 units in the previous year.

FADA has also released the vehicle retail data for FY2024, which shows an overall growth of 10.29% compared to the previous fiscal.

Passenger vehicle sales stood at 39,48,143 units, up by 8.45% compared to FY2023. The 2-wheeler segment also registered a growth of 9.30% with 1,75,17,173 units of sales. The LCV category saw a nominal degrowth of 1.09%.

Team-BHP's detailed analysis of the March 2024 sales figures.

JLR sold 854 units in the fourth quarter of FY2024 and 4,436 units during the entire fiscal.

Jaguar Land Rover has reported its best-ever sales in India since 2009. The carmaker registered an 81% surge in sales in FY2024 compared to the previous year.

Jaguar Land Rover sold 4,436 units in FY2024. Range Rover sales increased by 160%, while Defender sales jumped by 120%. Models like the Discovery Sport and Range Rover Evoque also recorded a growth of 50% and 55%, respectively.

JLR sold 854 units in the fourth quarter of FY2024 – a growth of 43% compared to the same period last year.

JLR’s certified pre-owned business also registered decent growth in the last fiscal. Pre-owned car sales were up by 28% year-on-year.

During the first quarter of 2024, Audi sold 1,046 units in India.

Audi India registered an overall growth of 33% in FY2023-24. The German luxury carmaker sold 7,027 units during this period.

During the first quarter of 2024, Audi sold 1,046 units in India. The carmaker stated that it has been a challenging period, primarily due to supply chain disruptions.

Balbir Singh Dhillon, Head of Audi India said, “We have seen robust growth of 33% in FY23-24 on the back of a diverse portfolio. Our product portfolio continues to witness strong demand and we are poised to overcome supply challenges. Despite ongoing growth in the luxury market, which is tapering off on the back of record-breaking sales in 2023, we are confident about the industry's potential to exceed 50,000 cars in 2024.”

Audi’s pre-owned car business also flourished during FY2023-24. Audi Approved Plus registered a 50% growth in the previous fiscal. The business grew by 25% during the period January to March 2024.

Passenger vehicle sales went up by 10.61% in 2023. 38,60,268 units were sold compared to 34,89,953 units in CY2022.

According to the data released by the Federation of Automobile Dealers Associations (FADA), vehicle retail sales grew by 21.14% in December 2023 compared to the same month last year.

Overall sales for the month of December 2023 stood at 19,90,915 units, compared to 14,43,514 units in December 2022.

Tractor sales increased by 0.22%, from 78,700 units in December 2022 to 78,872 units last month.

Two-wheeler sales went up by 27.56% to 14,49,693 units from 11,36,465 units in December 2022.

Three-wheeler sales were up by 36.40% in December 2023. 95,449 units were sold, compared to 69,976 units in December 2022.

Passenger vehicle sales went up by 2.65% compared to the previous year. 2,93,005 units were sold last month, compared to 2,85,429 units in December 2022.

Commercial vehicle sales also increased by 1.31%. 73,896 units were sold in December 2023, compared to 72,944 units in the previous year.

Vehicle Retail data for CY2023:

According to the data shared by FADA, 2,38,67,99 vehicles were sold during the year, registering a growth of 11.05% compared to CY2022.

Passenger vehicle sales went up by 10.61% in 2023. 38,60,268 units were sold compared to 34,89,953 units in CY2022.

The 2-wheeler segment registered a growth of 9.45%. 1,70,61,112 units were sold in CY2023. 

3-wheeler sales went up by 58.50%, with 10,80,653 units sold. The tractor and commercial vehicle segment registered a growth of 7.09% and 8.28%, respectively.

Team-BHP's detailed analysis of the December 2023 sales figures.

Indian domestic vehicle sales surpassed Japan for the first time in 2022, becoming the third largest market after China and the United States.

India retained its place as the third-largest auto market in the world in 2023, ahead of Japan for the second consecutive year.

New car sales in India rose by 7% in 2023 to 5.07 million units. In comparison, Japanese car sales increased by 14% to 4.77 million units.

According to SIAM data, passenger car sales increased by 8% to 4.10 million units, while commercial vehicle sales were up by 5% to 9,78,385 units.

Indian domestic vehicle sales surpassed Japan for the first time in 2022, becoming the third largest market after China and the United States.

In 2023, Chinese auto sales dropped by 1.8% to 20.12 million units, accounting for 28.9% of the overall global sales. Car sales in the USA rose by 12.5% to 12.86 million units.

Source: Nikkei

The carmaker sold 7,931 units in the period of January to December.

Audi India registered an 89% growth in CY2023. The carmaker sold 7,931 units in the period of January to December.

According to Audi, the positive growth can be attributed to new product launches, including the Q3 Sportback, Q8 e-tron and the Q8 Sportback e-tron. The A4, A6 and Q5 also witnessed good demand, along with its flagship models like the Q7, Q8, A8 L, S5 Sportback, RS5 Sportback, RS Q8, e-tron GT and the RS e-tron GT.

The company registered a 174% growth in SUV sales, while its performance and lifestyle cars, including the e-tron range, grew by 40%.

Audi Approved: plus recorded a 62% growth in 2023.

The United States remains the single largest market for the brand, with over 3,000 vehicles delivered.

Lamborghini reported its best-ever sales in 2023. The Italian supercar brand sold 10,112 units globally, out of which 103 units were shipped to India - a new record.

Unsurprisingly, the Lamborghini Urus topped the sales charts with 6,087 units, followed by the Huracan, of which, 3,962 units were sold. Lamborghini also dispatched 63 cars from its flagship V12 range, which included 12 Aventadors and 51 limited edition models.

If you look at the region-wise sales, around 4,000 units were sold in Europe - a growth of 14%. The Americas recorded a 9% growth with 3,465 deliveries, and 2,660 cars were sold in the Asia-Pacific region, 4% more than the previous year.

The United States remains the single largest market for the brand, with over 3,000 vehicles delivered. Other top markets included China, Germany, the UK, Japan, the Middle East and South Korea.

BMW plans to launch 19 new products, including 13 cars and 6 motorcycles in 2024.

BMW Group India recorded its best-ever sales in 2023. The company sold 14,172 cars and 8,768 motorcycles during the January-December period.

BMW sold 13,303 units, registering a growth of 18% compared to the previous year, while Mini sold 869 vehicles, 22% more than CY2022. 

The BMW iX and Mini 3 door Cooper SE were the brand’s best-selling EVs in 2023. According to the company, EV sales increased three-fold with 1,474 units in CY2023.

BMW’s motorcycle division, BMW Motorrad, recorded a growth of 20% compared to the previous year, with 8,768 motorcycles sold in CY2023.

BMW also recorded a successful fourth quarter with sales of 4,306 BMWs, 287 Minis and 1,990 motorcycles. The month of December also saw the highest-ever monthly sales for BMW and Mini.

BMW will be hoping to continue the momentum into the new year. In 2024, the carmaker has confirmed its plans to launch 19 new products, including 13 cars and 6 motorcycles.

Skoda Auto India sold 48,755 units in CY2023.

Skoda Auto India has achieved a new sales milestone. The carmaker sold over 1 lakh units over the past 2 years.

Skoda sold a record 53,721 cars in 2022. The year also witnessed the launch of the Kushaq and Slavia. Although the momentum was slightly hampered by supply issues in 2023, the carmaker sold 48,755 units in CY2023. Compared to the previous year, the number of Kodiaq SUVs sold doubled in 2023.

Skoda has also been expanding its retail network in the country. Customer touchpoints have increased from 120 at the beginning of 2021 to 260 at the end of 2023.

Petr Janeba, Brand Director, Skoda Auto India, said, “It was extremely important for us to maintain our momentum through 2023 after the record-high of 2022.”

“Despite the supply challenges in the first half of the year, we have ensured that we ended the last quarter of 2023 on a positive note. For 2024, we have a mix of exciting product action on the existing range, new product announcements, furthering our growth through exports and expanding our network,” Janeba added.