August Auto Slump: Maruti Suzuki Sales Down 3.9%, Tata Motors Dips 8% – What’s Driving the Decline?

In August 2024, Indian automakers Maruti Suzuki India Ltd. and Tata Motors Ltd. experienced a drop in sales. Maruti Suzuki reported a 3.9% decrease, while Tata Motors saw an 8% decline, according to a filing with the Bombay Stock Exchange (BSE) on Sunday, September 1.

Maruti Suzuki Sales Drop by 3.9%

Maruti Suzuki sold 181,782 units in August 2024, down from 189,082 units in August 2023. Of these, 145,570 units were sold in India, and 26,003 were exported. The company’s shares slightly dipped by 0.24%, closing at ₹12,421.25 on Friday, compared to ₹12,451.70 in the previous session.

The decline in sales was mainly due to a drop in the small car segment, including mini and compact cars, where sales fell by 18.85% to 68,699 units, compared to 84,660 units in August 2023.

However, Maruti Suzuki’s export numbers showed some positive growth, with a 5.64% increase in exports to 26,003 units in August 2024, up from 24,614 units in the same month last year.

Tata Motors Sales Down by 8%

Tata Motors reported selling 70,006 units in August 2024, a decrease from 76,261 units in August 2023. The company’s commercial vehicle sales dropped by 15% to 27,207 units, down from 32,077 units in the same month the previous year.

Passenger vehicle sales also fell by 3% year-on-year, with 44,142 units sold in August 2024, compared to 45,513 units in August 2023. Tata Motors’ shares also saw a decline, closing 0.92% lower at ₹1,109.40 on Friday, compared to ₹1,119.65 in the previous trading session.