Tata Motors breaks four-decade record, Punch tops sales in 2024 surpassing Maruti Suzuki’s Wagon R
Tata Motors has surpassed Maruti Suzuki to become India’s car sales leader for the first time in 40 years, with the Tata Punch selling over 202,000 units in 2024. This shift reflects changing consumer preferences towards SUVs, impacting Maruti's market share and rankings.
Tata Motors has finally achieved a historic feat by surpassing Maruti Suzuki to become the leader in India's car sales for the first time in four decades. According to a report byAutocar Pro, the Indian automaker’s subcompact SUV Tata Punch, edged out Maruti Suzuki’s Wagon R and Swift, securing the top spot with over 202,000 units sold in 2024, compared to the Wagon R’s 191,000 units.
This marks a significant shift in the Indian automotive market, with SUVs becoming increasingly popular. In fact, three of the top five selling cars in the country were SUVs. Maruti Suzuki’s Ertiga, which was the leading SUV in 2023, slipped to fourth place in 2024, according to the report. The shift in consumer preference towards premium vehicles and SUVs, particularly those priced above ₹10 lakh, has put pressure on Maruti Suzuki, traditionally known for its affordable offerings.
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Maruti Suzuki, once a dominant force with a 52 per cent market share in 2018, has seen a decline in its grip on the market. Reportedly, the Indian automotive industry, which saw sales peak at 42.86 lakh units in 2024, saw Maruti's share dip to 41 per cent, losing its position as the maker of India's best-selling car. The shift in demand, especially towards SUVs, has not only affected Maruti's market share but also its model rankings, with the brand’s products no longer holding the top spots, the publication added.
Tata Motors has capitalised on this change. Shailesh Chandra, Managing Director of Tata Motors Passenger Vehicles Ltd., highlighted that 2024 marked the company’s fourth consecutive year of record-breaking sales, with a total of 565,000 units sold, reported the publication. The SUV segment alone saw a 19 per cent growth, with the Punch emerging as the country’s highest-selling car.
This success reflects Tata Motors’ effective strategy of diversifying its SUV portfolio and introducing vehicles with various powertrains, positioning the company for sustained growth in the evolving Indian car market.
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Business NewsAuto NewsTata Motors breaks four-decade record, Punch tops sales in 2024 surpassing Maruti Suzuki’s Wagon R
First Published:4 Jan 2025, 11:00 PM IST
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