It is this segment that commands a significant market share and it sees new entrants being added to its lineup resulting in severe competition and a fight to claim lead positions. The demand for SUVs can be gauged from its market share which stood at 49 percent in 2023 rising up from 8 percent in 2011.
Top 10 SUV Sales February 2024
Following our earlier report on top 10 cars sold in February 2024, which had the Maruti WagonR in a top position, we now assess SUV sales during the same month. In February 2023, SUV sales in the top 10 list grew by 36.28 percent YoY. Sales which had stood at 97,039 units in February 2023 improved by 35,204 units to 1,32,243 units in February 2024. It is models such as the Tata Punch, Maruti Brezza and Hyundai Creta that continue to shine, securing their positions in the country’s SUV landscape.
Tata Punch, the most affordable SUV in the top 5, took the No 1 spot with 18,438 units sold in February 2024. This was a 65.08 percent YoY growth over 11,169 units sold in February 2023. The Punch currently commands a 13.94 percent share on this list. The recent addition of the Punch EV has significantly improve its sales performance.
Maruti Brezza witnessed sales of 15,765 units in the past month. Brezza has however seen a 0.14 percent de-growth over 15,787 units sold in February 2023 down 22 units on a YoY basis. A 46.59 percent YoY growth was seen in terms of Hyundai Creta sales which went up from 10,421 units sold in February 2023 to 15,276 units last month to command an 11.55 percent share in the top 10 SUV list. Hyundai is continuously worked on enhancing the appeal of the Creta and now gears up to introduce the new Creta N Line on March 11, 2024.
Mahindra Scorpio/N posts 116.56% YoY Growth
Another SUV that is much in demand since its launch is the Mahindra Scorpio/N. Sales improved 116.56 percent YoY to 15,051 units from 6,950 units sold in February 2023. The company has just expanded the range with the new Scorpio-N Z8 Select variant. This new trim is positioned between the Z6 and Z8 in the Scorpio N lineup and is presented with both petrol and diesel engine options.
Tata Nexon has lost its No 1 SUV spot, and slipped to No 5. Nexon has seen a 3.46 percent YoY growth in sales to 14,395 units from 13,914 units sold in February 2023. Nexon and Punch both command the sub 4-meter SUV segment and have both played a major role in taking Tata Motors to a No. 2 position on the sales list ahead of Hyundai in February 2024.
Sales of the Maruti Fronx and Maruti Grand Vitara stood at 14,168 units and 11,002 units respectively in February 2024 while there were 10,113 units of the Mahindra Bolero sold last month. Kia Sonet saw its sales dip 7.46 percent YoY to 9,102 units in February 2024 from 9,836 units sold in the same month last year relating to a 734 unit fall in volumes. Hyundai Venue also recorded lower YoY sales to 8,933 units in the past month, down 10.64 percent from 9,997 units sold in February 2023.
Month On Month performance
With 18,438 units sold, Tata Punch outperformed January’s figures by 460 units, translating to a 2.56% month-on-month growth. Brezza with 15,765 units sold in February, marking a 3.02% increase from the previous month. The model’s growth underscores its popularity, claiming an 11.06% share of the market.
Hyundai Creta witnessed an impressive surge in sales, with 15,276 units sold in February, reflecting a substantial growth of 15.62%. The model’s remarkable performance can be attributed to its contemporary design and feature-rich offerings, securing a 9.55% market share. Mahindra Scorpio/N held its ground with 15,051 units sold, showcasing a 5.30% month-on-month growth. The model’s consistent performance secured a 10.33% share in the market.
Despite being a strong contender, Tata Nexon experienced a dip in sales, with 14,395 units sold in February. This marked a significant decline of 16.22%, contributing to a 12.42% market share. Maruti Fronx reported a modest growth of 3.85%, selling 14,168 units in February. The model’s performance helped it maintain a 9.86% market share.
Maruti G Vitara faced a downturn, with 11,002 units sold in February, indicating a substantial decline of 18.13%. The model’s market share stands at 9.71%. Mahindra Bolero reported a marginal growth of 1.50%, with 10,113 units sold in February, contributing to a 7.20% market share.
Kia Sonet and Hyundai Venue encountered challenges in February, witnessing declines of 21.06% and 24.49%, respectively. Kia Sonet sold 9,102 units, while Hyundai Venue sold 8,933 units during the month. The cumulative sales of the top 10 SUVs in India for February 2024 totalled 1,32,243 units, reflecting a decline of 4.43% compared to January’s figures. The industry now awaits to see how these trends evolve in the coming months, keeping an eye on the ever-changing preferences and dynamics of the Indian SUV market.
