The first day of the new year has come with a slew of unexpected numbers for the automotive industry in India. In December 2024, automakers reported a wide variation in their wholesales ranging from strong robust double-digit growth to flat growth to even negative sales in the domestic market.

The country’s largest passenger vehicle manufacturer Maruti Suzuki India reported sales of 130,117 units in December 2024, up 24 percent YoY, as against 104,778 units for the same period last year.

Hyundai Motor India clocked 42,208 units for the same period, down 1.3 percent YoY, which it said was on the back of strong headwinds faced by the industry.

Tarun Garg, Whole-time Director and Chief Operating Officer, Hyundai Motor India, said, “HMIL has managed to sustain sales momentum in 2024, despite strong headwinds faced by the industry at large. Achieving highest ever domestic sales three years in a row, reflects customers’ preference for brand Hyundai as their trusted smart mobility solutions provider. Introduction of the innovative Hy-CNG Duo technology in 2024 resonated well with buyers, translating to the highest-ever CNG contribution of 13.1 percent to HMIL’s domestic sales in CY 2024, against 10.4 percent in CY 2023. By achieving highest ever yearly domestic sales of 1,86,919 units, Hyundai Creta continued to strengthen HMIL’s position as an SUV leader, helping HMIL accomplish highest ever domestic SUV contribution of 67.6 percent in CY 2024. We are confident that the upcoming Creta Electric, will further expand the appeal of this undisputed, ultimate SUV.”

Mumbai-based SUV maker Mahindra & Mahindra has constantly witnessed strong growth momentum on the back of its product offensive. The company clocked wholesales of 41,424 units, which was 17 percent higher YoY, as compared to 35,174 units for the same period last year.

Veejay Nakra, President, Automotive Division, Mahindra & Mahindra, stated, “We sold 41,424 SUVs, a growth of 18 percent and 69,768 total vehicles, a growth of 16 percent in December. The year ended on a high, as we became the only Indian auto company to attain the Dow Jones Sustainability Index (DJSI) world leader status within the Auto Sector. The DJSI ranking is one of the most respected global benchmarks for ESG performance, covering over 13,000 companies across various industries and we are ranked 1st among all global auto OEMs.”

Toyota Kirloskar Motor on its part sold 29,529 vehicles, which was 29 percent higher than 22,867 units sold for the same period last year.

Sabari Manohar, Vice-President, Sales-Service-Used Car Business, Toyota Kirloskar Motor, said, "We are immensely proud to close 2024 with a record-breaking performance, achieving an impressive 40 percent year-on-year growth. The SUV and MPV segments being key contributors grew at 20 percent over the same period last year. We are also observing a growing shift of consumer preferences towards vehicles offering sustainability, value proposition of dependability quotient, enhanced safety and better resale value which is boosting our sales.”

JSW MG Motor India’s bet on electric vehicles seems to have started to pay off. The company reported a 55 percent growth (albeit a low-year ago base) in December 2024 with sales of 7,516 units, as against 4,484 units last year.

Interestingly, the company witnessed 70 percent of its sales coming from its electric vehicle portfolio with the Windsor EV alone contributing sales of 3,785 units.

“The Windsor EV emerged as a market leader, despite market challenges. Our innovative Battery-As-A-Service offering and customer-centric mobility solutions continue to shape the future of India’s automotive landscape. Going forward, we will maintain our growth momentum while driving continuous disruption and innovation,” the company said in a statement.

Nissan Motor India reported sales of 2,118 units in the domestic market, which was down 1.5 percent as against 2,150 units sold for the same period last year. On the other hand, the company also announced that its popular Magnite SUV has crossed 10,000 booking milestone at the start of the new year.

Saurabh Vatsa, Managing Director, Nissan Motor India, said, “The year 2024 marked a transformative phase for Nissan in India as we embarked on the turnaround and introduced new models like the 4th Generation Nissan X-Trail and the new Nissan Magnite. This historic best sales performance in December also reflects the continued trust and enthusiasm of customers for our vehicles in both domestic and international markets. Our recent network expansion into cities like Nashik and Gorakhpur, along with the goal of achieving 300 touchpoints by the end of this fiscal year, reflects our focus on enhancing customer reach and experience across the country.”

“We remain committed to our dealers, partners and stakeholders in India and are focused on delivering the India turnaround plan. We are optimistic about building on this momentum to deliver even more value to our customers in the year ahead,” added Vatsa.

Volvo Eicher Commercial Vehicles reported a flat growth of 7,545 units as against 7,468 units it sold in the same month last year.

Bajaj Auto reported a negative growth of 19 percent with sales of 1,28,335 two-wheelers as against 1,58,370 two-wheelers it sold last year.

For Tata Motors, while the PV wholesales was in the green, the CV sales were in the red.

In December 2024, Tata Motors sold 44,230 passenger vehicles, up 1.7 percent, as against 43,470 units sold last year. On the other hand, the CV sales came at 32,369 units, down 0.9 percent, as against 32,668 units sold for the same period last year.

Girish Wagh, Executive Director, Tata Motors Ltd. said, “Sales in December 2024 were around 24 percent higher than those recorded in November 2024. Propelled by a resurgence in construction and mining activities post-monsoon, plus the festive season demand. Looking ahead, we expect demand to improve in Q4 FY25 across most segments of the CV industry. The key aspects to watch out in 2025 will be government’s focus on infrastructure spend, and growth in end use segments, which will augur well for the commercial vehicles industry.”

Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, said, “The PV industry posted moderate growth in CY24 and is expected to touch a sales volume of 4.3 million units, with strong growth in the SUV segment and sustained traction for emission-friendly powertrains. In Q3 FY25, the industry saw a strong revival, driven by increased retails in the festive season. For Tata Motors, CY24 was the fourth consecutive year of highest-ever annual sales with 565,000 units sold. We registered strong growth in our SUV portfolio with successful product introductions built on our proven multi-powertrain strategy. CNG volumes grew a substantial 77 percent with over 120,000 CNG vehicles sold in CY24. SUV volumes grew a robust 19 percent, with Punch selling over 200,000 units to emerge as the highest selling car model in India in CY24. Looking ahead, we remain optimistic about the outlook for the PV industry. With multiple product launches, innovations and a strengthened multi-powertrain strategy, Tata Motors is well poised for further growth in CY2025.”

The Federation of Automobile Dealers Associations (FADA) today released its April 2025 vehicle retail data, revealing a moderate overall growth of 3 percent YoY.

The two-wheeler segment emerged as the primary growth driver, registering a 2.25 percent increase in retail sales compared to April 2024 and a significant 11.84 percent MoM growth. FADA attributes this positive momentum to strong rural demand. However, the sector continues to face headwinds in the form of high financing costs and the pricing impact of OBD-2B emission norms.

The tractor segment demonstrated robust growth, with a 7.5 percent increase in retail sales year-on-year. This strong performance likely reflects the positive sentiment stemming from a strong Rabi harvest, which typically boosts agricultural activity and consequently, tractor demand.

In contrast to the strong performance of two-wheelers and tractors, the passenger vehicle segment experienced a modest 1.55 percent YoY growth, while witnessing a slight dip of 0.19 percent on MoM basis. The auto retail body attributes that deep discounts are prevalent in the market and while the demand for SUVs remains strong, the entry-level segment continues to exhibit sluggishness. FADA also noted that the PV inventory levels are currently around 50 days, significantly higher than their advocated norm of 21 days.

The commercial vehicle segment faced a contraction, with retail sales declining by 1.05 percent YoY and 4.44 percent on MoM basis. FADA suggests that recent price hikes by OEMs and flat freight rates are negatively impacting sales. Within the CV segment, the Small Commercial Vehicle category saw weak demand, while the bus segment remains steady.

Looking ahead to May 2025, FADA anticipates a positive outlook, primarily driven by the strong conclusion of the Rabi harvest. The expectation of a normal monsoon further strengthens this positive sentiment, suggesting continued momentum in rural demand which could positively influence vehicle sales across various segments.

In a significant development, FADA has begun releasing fuel-wise vehicle retail market share data across all key categories. This new initiative aims to provide stakeholders with a granular understanding of evolving energy preferences and the impact of regulatory influences on India's automotive ecosystem.

C S Vigneshwar, President, FADA, said, “The new financial year began on a measured note as overall retails in April managed to grow by 3 percent YoY. All categories except CV closed in the green, with 2W, 3W, PV and Trac up 2.25 percent, 24.5 percent, 1.5 percent and 7.5 percent respectively, while CVs declined by 1 percent. With the tariff war paused, stock markets staged a sharp pullback – alleviating investor concerns – and customers thus leveraged Chaitra Navratri, Akshay Tritiya, Bengali New Year, Baisakhi and Vishu to complete purchases, helping April end on a positive note.”

The President of India, Droupadi Murmu, has posthumously conferred Padma Vibhushan, one of the highest civilian awards, to Late Osamu Suzuki, Former Chairman, Suzuki Motor Corporation and Former Director & Honorary Chairman, Maruti Suzuki India, in a formal conferment ceremony at the Rashtrapati Bhawan in New Delhi on 28 April 2025.

The Padma Vibushan was conferred to Osamu Suzuki for his outstanding contribution in the field of trade and industry. The award was accepted by Toshihiro Suzuki, Representative Director and President, Suzuki Motor Corporation on behalf of his late father.

Toshihiro Suzuki, said, “My sincere gratitude to the Honourable President of India and the Government of India for awarding the prestigious Padma Vibhushan to my father, Osamu Suzuki, Former Chairman, Suzuki Motor Corporation. I have just received this high-level award on his behalf, and I am deeply honoured. I believe he is, from heaven, looking back fondly on the 45 years he spent with India, his second home.”

“This award goes not only to my father, but also to all the people who have worked at Suzuki, Maruti Suzuki and all our business partners, who have supported us in this journey. My father must be feeling very proud today. I am also feeling extremely proud to receive this award. All the employees at Suzuki and Maruti Suzuki and our business partners must be feeling proud of this recognition. This award also expresses thanks to the ‘love of Indian people towards Suzuki’. This award belongs to all of you.”

“We, at Team Suzuki, will carry forward the commitment of Osamu Suzuki with the same passion to bring inclusive and sustainable mobility solutions that will be loved by the people of India,” he added.

Osamu Suzuki played a key role in driving the Indian automotive industry, especially the passenger vehicle segment. Under his leadership, Maruti Suzuki began manufacturing passenger vehicles with around 100,000 units per annum capacity in 1983.

The company is now one of the largest passenger vehicle manufacturers not just in India, but globally.  It was last year that the company reached a cumulative production milestone of 30 million units, an annual production of 2 million units and exporting over 3 million units cumulatively today.

Japanese automotive company Suzuki Motor Corporation, along with Maruti Suzuki India, aims to establish the  Osamu Suzuki Centre of Excellence (OSCOE) in India as part of their tribute to Late Osamu Suzuki, Former Chairman, Suzuki Motor Corporation.

The former chairman was instrumental in bringing Japanese concepts of manufacturing in India, alongside being instrumental in advancing the automotive industry in the country.

The announcement was made as part of the remembrance event held today for Late Suzuki at Yashobhoomi, Delhi Corporation, who passed away on 25 December 2024, in Japan.

The new OSCOE is proposed to be located in Gujarat and Haryana, and will work towards fulfilling the following objectives: 

Support national objective of high manufacturing growth.  

Raise the standard of component manufacturers (including tier-1, 2 & 3) to make supply chains of the country globally competitive.

Build infrastructure and develop programmes in collaboration with academia and others to propagate Japanese manufacturing philosophy. The programme would include, but not limited to formal teaching, lectures, discussions and seminars among others.

It will also focus strengthening the manufacturing landscape beyond just automotive sector.  

For the unversed, Osamu Suzuki played a crucial role in making car ownership accessible to the common man in the country and driving automotive manufacturing, innovation in India. He won many global awards and recognitions such as -

French auto major Renault Group has inaugurated its new Renault Design Centre in Chennai, as part of its new India-centric transformation strategy – renault. rethink.

The new design centre further strengthens the company’s ‘design in India’ and ‘make in India’ strategy. It is also expected to function as a hub of excellence, particularly due to its proximity to Renault Nissan Technology & Business Centre India (RNTBCI).

Laurens van den Acker, Chief Design Officer, Renault Group, said, "India is highly unique and locally driven. Having a dedicated design studio is essential to understanding its nuances, listening to its needs and building from its strengths. The Renault Design Centre Chennai will focus on developing models and concepts tailored to the Indian market while contributing to Renault Group’s global projects. By leveraging local talents and insights, this centre will play a key role in shaping Renault’s future mobility solutions. Its strategic location - at the heart of RNTBCI’s excellence hub - also enables closer collaboration across functions and faster integration of design into our engineering and innovation processes.”

Renault shared that the year 2025 marks an inflection point for the automaker in India, as it gears up to strengthen its presence in the world’s third-largest automobile market.

Venkatram Mamillapalle, Country CEO and Managing Director, Renault India Operations, said, "The launch of the 'renault. rethink' strategy heralds a new era for Renault in India. We are proud to be the most Indian of European carmakers, boasting the largest R&D centre, manufacturing unit, highly localised supply chain and now one of the largest design centres. The opening of new design centre in Chennai will play a crucial role in the deployment of the Renault International Game Plan 2027. Our commitment is to redefine our brand, product positioning, and customer experience to meet the evolving needs of our customers in the country, hence we recently witnessed the global debut of new ‘R store’ in Chennai, India."

It has renewed its commitment for India with a 90 percent localisation target, and the recent takeover of the alliance’s manufacturing plant RNAIPL.

In 2024, Renault Group clocked a record EUR 4.3 billion in profit, which is 7.6 percent of its revenue, and saw its revenue grow to EUR 56.2 billion, up 7.4 percent YoY.

Design & Engineering in India

At present, Renault Group’s Chennai R&D centre is one of its largest globally, with around 10,000 engineering working on global and local projects. Now, the Renault Design Centre Chennai extends over 1,500 metre and is equipped with the latest technologies. It features a high-tech environment designed for 3D model evaluation and virtual reality experiences, a next-generation visualisation studio, a creative collaboration zone, high-performance LED wall, advanced VR integration and a harmonious blend of European and Indian Design.

“renault. rethink is more than a sculpture – it’s a bold expression of Renault’s vision for India. It symbolises our commitment to innovation and to designing cars in India, for India. This artwork captures the energy of a nation in motion, a future taking shape, and Renault’s ambition to be part of this exciting journey,” stated Acker.