UditVani, NewsDesk: Tata Motors has made history by surpassing Maruti Suzuki to become the leader in India’s car sales for the first time in four decades.
According to a report by Autocar Pro Tata Punch, the subcompact SUV, edged out Maruti Suzuki’s Wagon R and Swift to become the country’s largest-selling car in 2024.
CY24 was a landmark year for Tata Motors, with the company achieving record-breaking annual sales of 565,000 units. A key driver of this success was the significant growth in its SUV portfolio, fueled by successful product launches. SUV sales surged by 19%, with the Punch leading the charge, selling over 202,000 units and becoming the highest-selling car model in India for the year, surpassing the Wagon R, which sold 191,000 units.
Less than four months ago, Tata brought in the updated Punch with a starting price of Rs. 6.12 lakh (ex-showroom).
Tata Punch was also the most sold Passenger Vehicle in India last FY (2023-24).
Shift in choice to SUVs:
The 2024 top five list highlights how the shift in consumer preference towards SUVs has impacted not only vehicle brands but also models and market share. Three out of the top five best-selling cars in India in 2024 were SUVs. Within this segment, the Maruti Suzuki Ertiga—ranked as the number one SUV brand in 2023—slipped to fourth place.
Maruti Suzuki, which once held a dominant 52% market share in 2018, has seen a decline in its grip on the market. In 2024, as the Indian automobile industry reached a new peak with approximately 42.86 lakh car sales, Maruti Suzuki’s market share fell to 41%, and it also lost its position as the supplier of India’s best-selling car.
The growing preference for premium cars in India is proving to be a significant challenge for Maruti Suzuki, the country’s leading affordable car manufacturer. The company’s limited offerings in the SUV segment, particularly in the Rs 10 lakh and above price range, have negatively impacted its market share.
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