Amidst the backdrop of the Lok Sabha 2024 elections, the Indian auto market witnessed a modest 4% growth in car sales in May 2024. This growth marked a continued competition between Hyundai Motor India and Tata Motors for the coveted second spot, while Maruti Suzuki maintained its dominant position, commanding over 40% of the market share.Maruti Suzuki leads the packMaruti Suzuki retained its stronghold on the Indian car market, selling 1,44,002 cars in May 2024. While this represented just a marginal increase of 0.2% from the previous year, the companys overall performance remained impressive. However, its exports saw a notable decline, dropping by 34.4% to 17,367 units.Hyundai Motor India secures second spotHyundai Motor India secured the second position with 49,151 cars shipped in May 2024, showcasing a modest 1% growth from the previous year. The Hyundai Creta emerged as the companys top-selling model, contributing significantly to its overall sales. Notably, the company recorded a substantial 31% increase in exports, shipping 14,400 cars.Tata Motors on thirdTata Motors closely trailed Hyundai, shipping 46,697 cars in May 2024, reflecting a 2% growth compared to the previous year. Despite a 4% decline in electric vehicle (EV) sales, the company reported a remarkable 257% increase in exports, underlining its growing presence in the global market.Mahindra & Mahindra: Riding SUV waveMahindra & Mahindra witnessed a commendable 31% increase in car sales, selling 43,218 units in May 2024. The companys entire sales portfolio comprised SUVs, with the newly launched Mahindra XUV 3XO contributing significantly to its sales figures.Mixed fortunes for Toyota and MG MotorToyota reported a notable 24% increase in car shipments, reflecting the companys growing presence in the Indian market. In contrast, MG Motor experienced a 5% decline in sales, selling 4,769 vehicles in May 2024.
