Car sales soar to record highs in February, Maruti Suzuki leads, know who is No. 2 and 3

February Car Sales Record: February witnessed a surge in car purchases across India, with Maruti Suzuki emerging as the frontrunner in sales. According to data released by the Society of Indian Automobile Manufacturers (SIAM), the month saw remarkable figures in various automotive segments, underscoring a positive trend in the industry.
 
SIAM's latest report reveals a notable increase in the sale of passenger vehicles, two-wheelers, and three-wheelers, although with a slight slowdown in commercial vehicle sales. The total production for the month tallied at 22.94 lakh units, reflecting the strong demand prevailing in the market.

Passenger vehicle sales

In the passenger vehicle category, SIAM Director General Rajesh Menon highlighted a significant milestone, citing sales of over 3.7 lakh units in February, marking a growth rate of more than 10 per cent compared to the same period last year.
 
Meanwhile, the two-wheeler segment witnessed a surge, with sales soaring by 34.6 percent, totaling 15.2 lakh units for the month. Notably, scooter sales experienced a substantial uptick, reaching 5.15 lakh units, accompanied by strong performances in the bike and moped categories.
 
Maruti Suzuki, India's leading car manufacturer, dominated the sales charts for February, with a total of 1.60 lakh units sold. Following closely behind were Hyundai Motors, recording sales of 50,000 units, and Mahindra & Mahindra, surpassing 42,000 units. Kia Motors, a relatively recent entrant to the Indian market, also made impressive strides with sales of 20,200 units.

Impact of GDP on auto sector

Commenting on the sector's performance, SIAM President Vinod Aggarwal noted the overarching impact of GDP growth on automotive sales, observing a slight decline in commercial vehicle sales despite the overall positive trajectory.
 
The upbeat sentiment in the industry was further buoyed by the Bharat Mobility Global Auto Expo 2024 held in February, which contributed to a shift in consumer sentiments and raised hopes for sustained growth in the future.
 
As India's automotive sector continues to exhibit resilience and adaptability, the surge in car purchases in February underscores the enduring appeal of automobiles in the nation's economic landscape. With companies like Maruti Suzuki leading the charge, the outlook for the industry remains promising as it navigates through evolving market dynamics and consumer preferences.