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Hyundai Bags 2nd Position as the Largest Carmaker Beating TATA in India FY24

Hyundai and TATA, driven by their SUVs, made a recording-breaking PV wholesale in the domestic market in FY24. 

By CROX Times Desk: Hyundai Motors India, an automobile giant from South Korea easily beat homegrown auto, TATA Motors, in terms of domestic passenger vehicle (PV) volumes to become the second major carmaker in FY24. 

Both Tata and Hyundai continue their dominance, registering the highest gross PV wholesales in the domestic market in FY24. Not only this, both companies posted record volumes in FY23 as well. 

Hyundai’s despatches to its dealerships increased 8.3% year-on-year at over 6 lakhs in FY24 from over 5 Lakh units in FY23. The SUVs contributed 63% to the carmaker’s domestic sales. 

For the counterparts, the domestic PV volumes of TATA rose 6% at 5 Lakh units in FY24 from 4 Lakh units in FY23. This was the third-year of the highest-ever PV wholesales for the company.

Among the top-selling cars from Hyundai include the Creta, Venue, Exter, Grand i10 Nios, and i20. TATA’s best-selling cars include Nexon, Altroz, Punch, and Tiago. 

As per Tata, its EVs and CNG variants contributed nearly 29% to its overall sales.

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