New Delhi, April 8, 2024 – The Federation of Automobile Dealers Associations (FADA) unveiled a blend of optimism and resilience in the Indian Auto Retail sector for March 2024 and the fiscal year 2024, marking a journey of modest growth amidst economic headwinds. The latest data release paints a picture of an industry navigating through challenges with strategic evolution, especially within the electric vehicle (EV) sphere, and setting new benchmarks in vehicle retail growth.
In March 2024, the auto retail sector witnessed a 3.14% year-over-year (YoY) growth, fueled by notable performances in the two-wheeler (2W) and three-wheeler (3W) segments, which grew by 5% and 17% respectively. A surge in electric vehicle sales, particularly in the 2W-EV market, marked a historic achievement as it reached a 9.12% market share for the first time, propelled by the expiration of the FAME 2 subsidy.
Despite the looming challenges of economic concerns and election uncertainties, the 2W segment displayed remarkable adaptability, focusing on premium and electric vehicles. The 3W segment thrived, driven by the rising acceptance of electric vehicles, showcasing optimism even amidst potential policy changes. However, the passenger vehicle (PV) sector faced headwinds with a decline in sales, attributed to heavy discounting and selective financing.
For the fiscal year 2024, the Indian Auto Retail sector boasted a 10% YoY growth, with significant contributions across all segments, setting new records especially in the 3W, PV, and tractor (Trac) categories. The 2W segment’s resurgence was led by enhanced model availability and the burgeoning EV market, while the 3W segment set a new industry benchmark with a 49% YoY growth. The PV segment achieved an all-time high with an 8.45% growth, largely driven by the SUV segment, which now claims a 50% market share.
The near-term outlook for the industry remains cautiously optimistic, amidst a decline in consumer sentiment and unchanged lending rates. However, the sector is poised to leverage festive occasions and new product launches, particularly in the EV space, to stimulate demand. Looking ahead to FY’25, the industry is set for growth, underpinned by economic recovery, favorable government policies, and an expected good monsoon, despite facing challenges such as intense competition and the need for strategic market engagement.
FADA’s online members survey reveals a mix of liquidity and sentiment, with a majority expecting growth in both April 2024 and FY’25. As the Indian Auto Industry gears up for an exciting future, it remains committed to overcoming obstacles with innovation and strategic planning, paving the way for sustained growth and broader market penetration.
Chart showing Vehicle Retail Data for March’24 & FY’24
All India Vehicle Retail Data for Mar’24
| CATEGORY | Mar’24 | Feb’24 | Mar’23 | MoM% | YoY% |
| 2W | 15,29,875 | 14,39,523 | 14,50,913 | 6.28% | 5.44% |
| 3W | 1,05,222 | 94,918 | 89,837 | 10.86% | 17.13% |
| E-RICKSHAW(P) | 37,378 | 36,579 | 37,333 | 2.18% | 0.12% |
| E-RICKSHAW WITH CART (G) | 5,087 | 4,435 | 3,214 | 14.70% | 58.28% |
| THREE-WHEELER (GOODS) | 14,433 | 10,768 | 10,655 | 34.04% | 35.46% |
| THREE-WHEELER (PASSENGER) | 48,223 | 43,065 | 38,556 | 11.98% | 25.07% |
| THREE-WHEELER (PERSONAL) | 101 | 71 | 79 | 42.25% | 27.85% |
| PV | 3,22,345 | 3,30,107 | 3,43,527 | -2.35% | -6.17% |
| TRAC | 78,446 | 76,626 | 81,148 | 2.38% | -3.33% |
| CV | 91,289 | 88,367 | 96,984 | 3.31% | -5.87% |
| LCV | 49,332 | 48,594 | 51,891 | 1.52% | -4.93% |
| MCV | 6,324 | 6,454 | 6,292 | -2.01% | 0.51% |
| HCV | 30,394 | 28,271 | 34,869 | 7.51% | -12.83% |
| Others | 5,239 | 5,048 | 3,932 | 3.78% | 33.24% |
| Total | 21,27,177 | 20,29,541 | 20,62,409 | 4.81% | 3.14% |
Source: FADA Research
Motor Vehicle Road Tax Collection (in Rs Crore)
| Mar’24 | Feb’24 | Mar’23 | MoM% | YoY% | |
| Motor Vehicle Road Tax Collection | 7,633 | 6,817 | 7,447 | 12% | 3% |
Source: FADA Research
All India Vehicle Retail Data for FY’24
| CATEGORY | FY’24 | FY’23 | YoY% |
| 2W | 1,75,17,173 | 1,60,27,411 | 9.30% |
| 3W | 11,65,699 | 7,83,257 | 48.83% |
| E-RICKSHAW(P) | 4,90,726 | 3,49,892 | 40.25% |
| E-RICKSHAW WITH CART (G) | 40,798 | 24,076 | 69.46% |
| THREE-WHEELER (GOODS) | 1,21,506 | 90,923 | 33.64% |
| THREE-WHEELER (PASSENGER) | 5,11,754 | 3,17,753 | 61.05% |
| THREE-WHEELER (PERSONAL) | 915 | 613 | 49.27% |
| PV | 39,48,143 | 36,40,399 | 8.45% |
| TRAC | 8,92,313 | 8,29,639 | 7.55% |
| CV | 10,07,006 | 9,60,655 | 4.82% |
| LCV | 5,61,097 | 5,67,302 | -1.09% |
| MCV | 72,907 | 62,056 | 17.49% |
| HCV | 3,24,308 | 3,01,421 | 7.59% |
| Others | 48,694 | 29,876 | 62.99% |
| Total | 2,45,30,334 | 2,22,41,361 | 10.29% |
Source: FADA Research
Motor Vehicle Road Tax Collection (in Rs Crore)
| FY’24 | FY’23 | YoY % | |
| Motor Vehicle Road Tax Collection | 79,673 | 70,045 | 14% |
Source: FADA Research
Disclaimer:
- The above numbers do not have figures from TS & LD.
- Vehicle Retail Data has been collated as on 06.04.24 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,360 out of 1,447 RTOs.
- Commercial Vehicle is subdivided in the following manner
- LCV – Light Commercial Vehicle (incl. Passenger & Goods Vehicle)
- MCV – Medium Commercial Vehicle (incl. Passenger & Goods Vehicle)
- HCV – Heavy Commercial Vehicle (incl. Passenger & Goods Vehicle)
- Others – Construction Equipment Vehicles and others
- 3-Wheeler is sub-divided in the following manner
- E-Rickshaw – Passenger
- E-Rickshaw – Goods
- 3-Wheeler – Goods
- 3-Wheeler – Passenger
- 3-Wheeler – Personal
OEM wise Market Share Data for the Month of March’24 with YoY comparison
| Two-Wheeler OEM | MAR’24 | Market Share (%) MAR’24 | MAR’23 | Market Share (%) MAR’23 |
| HERO MOTOCORP LTD | 4,51,464 | 29.51% | 4,67,518 | 32.22% |
| HONDA MOTORCYCLE AND SCOOTER INDIA (P) LTD | 3,55,326 | 23.23% | 3,24,762 | 22.38% |
| TVS MOTOR COMPANY LTD | 2,52,321 | 16.49% | 2,38,773 | 16.46% |
| BAJAJ AUTO GROUP | 1,81,109 | 11.84% | 1,64,329 | 11.33% |
| BAJAJ AUTO LTD | 1,81,107 | 11.84% | 1,61,983 | 11.16% |
| CHETAK TECHNOLOGY LIMITED | 2 | 0.00% | 2,346 | 0.16% |
| SUZUKI MOTORCYCLE INDIA PVT LTD | 75,489 | 4.93% | 64,604 | 4.45% |
| ROYAL-ENFIELD (UNIT OF EICHER LTD) | 64,438 | 4.21% | 71,033 | 4.90% |
| OLA ELECTRIC TECHNOLOGIES PVT LTD | 53,320 | 3.49% | 21,435 | 1.48% |
| INDIA YAMAHA MOTOR PVT LTD | 52,418 | 3.43% | 47,141 | 3.25% |
| ATHER ENERGY PVT LTD | 17,232 | 1.13% | 12,183 | 0.84% |
| KINETIC GREEN ENERGY & POWER SOLUTIONS LTD | 3,963 | 0.26% | 1,645 | 0.11% |
| BGAUSS AUTO PRIVATE LIMITED | 3,111 | 0.20% | 781 | 0.05% |
| GREAVES ELECTRIC MOBILITY PVT LTD | 3,008 | 0.20% | 382 | 0.03% |
| PIAGGIO VEHICLES PVT LTD | 2,727 | 0.18% | 3,108 | 0.21% |
| CLASSIC LEGENDS PVT LTD | 2,476 | 0.16% | 3,325 | 0.23% |
| Others Including EV | 11,473 | 0.75% | 29,894 | 2.06% |
| Total | 15,29,875 | 100% | 14,50,913 | 100% |
Source: FADA Research
Disclaimer:
1- The above numbers do not have figures from TS & LD.
2- Vehicle Retail Data has been collated as on 06.04.24 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,360 out of 1,447 RTOs.
3- Others include OEMs accounting less than 0.1% Market Share.
| Three-Wheeler OEM | MAR’24 | Market Share (%) MAR’24 | MAR’23 | Market Share (%) MAR’23 |
| BAJAJ AUTO LTD | 36,639 | 34.82% | 32,374 | 36.04% |
| PIAGGIO VEHICLES PVT LTD | 9,401 | 8.93% | 8,096 | 9.01% |
| MAHINDRA & MAHINDRA LIMITED | 8,329 | 7.92% | 5,409 | 6.02% |
| MAHINDRA LAST MILE MOBILITY LTD | 8,011 | 7.61% | – | 0.00% |
| MAHINDRA & MAHINDRA LIMITED | 308 | 0.29% | 4,473 | 4.98% |
| MAHINDRA REVA ELECTRIC VEHICLES PVT LTD | 10 | 0.01% | 936 | 1.04% |
| YC ELECTRIC VEHICLE | 3,321 | 3.16% | 3,099 | 3.45% |
| OMEGA SEIKI PVT LTD | 2,247 | 2.14% | 651 | 0.72% |
| DILLI ELECTRIC AUTO PVT LTD | 2,197 | 2.09% | 2,062 | 2.30% |
| SAERA ELECTRIC AUTO PVT LTD | 2,190 | 2.08% | 2,241 | 2.49% |
| ATUL AUTO LTD | 2,173 | 2.07% | 2,475 | 2.75% |
| TVS MOTOR COMPANY LTD | 1,808 | 1.72% | 1,517 | 1.69% |
| MINI METRO EV L.L.P | 1,162 | 1.10% | 1,265 | 1.41% |
| UNIQUE INTERNATIONAL | 1,075 | 1.02% | 1,150 | 1.28% |
| Others including EV | 34,680 | 32.96% | 29,498 | 32.84% |
| Total | 1,05,222 | 100% | 89,837 | 100% |
Source: FADA Research
Disclaimer:
- The above numbers do not have figures from TS & LD.
- Vehicle Retail Data has been collated as on 06.04.24 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,360 out of 1,447 RTOs.
- Others include OEMs accounting less than 1% Market Share.
| Commercial Vehicle OEM | MAR’24 | Market Share (%) MAR’24 | MAR’23 | Market Share (%) MAR’23 |
| TATA MOTORS LTD | 32,972 | 36.12% | 37,190 | 38.35% |
| MAHINDRA & MAHINDRA LIMITED | 21,748 | 23.82% | 20,589 | 21.23% |
| ASHOK LEYLAND LTD | 15,183 | 16.63% | 17,330 | 17.87% |
| VE COMMERCIAL VEHICLES LTD | 6,711 | 7.35% | 6,864 | 7.08% |
| MARUTI SUZUKI INDIA LTD | 3,393 | 3.72% | 3,753 | 3.87% |
| DAIMLER INDIA COMMERCIAL VEHICLES PVT. LTD | 1,901 | 2.08% | 2,159 | 2.23% |
| FORCE MOTORS LIMITED, A FIRODIA ENTERPRISE | 1,537 | 1.68% | 1,137 | 1.17% |
| SML ISUZU LTD | 892 | 0.98% | 859 | 0.89% |
| Others | 6,952 | 7.62% | 7,103 | 7.32% |
| Total | 91,289 | 100.00% | 96,984 | 100.00% |
Source: FADA Research
Disclaimer:
1- The above numbers do not have figures from TS & LD.
2- Vehicle Retail Data has been collated as on 06.04.24 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,360 out of 1,447 RTOs.
| PV OEM | MAR’24 | Market Share (%) MAR’24 | MAR’23 | Market Share (%) MAR’23 |
| MARUTI SUZUKI INDIA LTD | 1,26,774 | 39.33% | 1,39,066 | 40.48% |
| TATA MOTORS LTD | 45,701 | 14.18% | 47,617 | 13.86% |
| HYUNDAI MOTOR INDIA LTD | 43,539 | 13.51% | 46,836 | 13.63% |
| MAHINDRA & MAHINDRA LIMITED | 38,084 | 11.81% | 33,623 | 9.79% |
| KIA MOTORS INDIA PVT LTD | 19,525 | 6.06% | 21,582 | 6.28% |
| TOYOTA KIRLOSKAR MOTOR PVT LTD | 18,795 | 5.83% | 16,668 | 4.85% |
| HONDA CARS INDIA LTD | 6,286 | 1.95% | 6,471 | 1.88% |
| SKODA AUTO VOLKSWAGEN GROUP | 5,663 | 1.76% | 8,319 | 2.42% |
| SKODA AUTO VOLKSWAGEN INDIA PVT LTD | 5,617 | 1.74% | 8,163 | 2.38% |
| VOLKSWAGEN AG/INDIA PVT. LTD. | – | 0.00% | 3 | 0.00% |
| AUDI AG | 45 | 0.01% | 151 | 0.04% |
| SKODA AUTO INDIA/AS PVT LTD | 1 | 0.00% | 2 | 0.00% |
| RENAULT INDIA PVT LTD | 3,690 | 1.14% | 5,212 | 1.52% |
| MG MOTOR INDIA PVT LTD | 3,657 | 1.13% | 4,916 | 1.43% |
| NISSAN MOTOR INDIA PVT LTD | 2,092 | 0.65% | 2,705 | 0.79% |
| MERCEDES -BENZ GROUP | 1,525 | 0.47% | 1,754 | 0.51% |
| MERCEDES-BENZ INDIA PVT LTD | 1,411 | 0.44% | 1,660 | 0.48% |
| MERCEDES -BENZ AG | 112 | 0.03% | 93 | 0.03% |
| DAIMLER AG | 2 | 0.00% | 1 | 0.00% |
| BMW INDIA PVT LTD | 1,062 | 0.33% | 909 | 0.26% |
| FORCE MOTORS LIMITED, A FIRODIA ENTERPRISE | 903 | 0.28% | 732 | 0.21% |
| PCA AUTOMOBILES INDIA PVT LTD | 546 | 0.17% | 985 | 0.29% |
| FIAT INDIA AUTOMOBILES PVT LTD | 326 | 0.10% | 828 | 0.24% |
| JAGUAR LAND ROVER INDIA LIMITED | 296 | 0.09% | 192 | 0.06% |
| VOLVO AUTO INDIA PVT LTD | 152 | 0.05% | 198 | 0.06% |
| BYD INDIA PRIVATE LIMITED | 137 | 0.04% | 300 | 0.09% |
| Others | 3,592 | 1.11% | 4,614 | 1.34% |
| Total | 3,22,345 | 100% | 3,43,527 | 100% |
Source: FADA Research
Disclaimer:
- The above numbers do not have figures from TS & LD.
- Vehicle Retail Data has been collated as on 06.04.24 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,360 out of 1,447 RTOs.
| Tractor OEM | MAR’24 | Market Share (%) MAR’24 | MAR’23 | Market Share (%) MAR’23 |
| MAHINDRA & MAHINDRA LIMITED (TRACTOR) | 17,937 | 22.87% | 17,775 | 21.90% |
| MAHINDRA & MAHINDRA LIMITED (SWARAJ DIVISION) | 14,467 | 18.44% | 14,111 | 17.39% |
| INTERNATIONAL TRACTORS LIMITED | 10,350 | 13.19% | 9,874 | 12.17% |
| TAFE LIMITED | 9,057 | 11.55% | 8,947 | 11.03% |
| ESCORTS LIMITED (AGRI MACHINERY GROUP) | 7,561 | 9.64% | 9,014 | 11.11% |
| JOHN DEERE INDIA PVT LTD(TRACTOR DEVISION) | 5,639 | 7.19% | 6,798 | 8.38% |
| EICHER TRACTORS | 5,271 | 6.72% | 5,134 | 6.33% |
| CNH INDUSTRIAL (INDIA) PVT LTD | 3,352 | 4.27% | 3,354 | 4.13% |
| KUBOTA AGRICULTURAL MACHINERY INDIA PVT.LTD. | 1,589 | 2.03% | 1,954 | 2.41% |
| V.S.T. TILLERS TRACTORS LIMITED | 318 | 0.41% | 427 | 0.53% |
| GROMAX AGRI EQUIPMENT LTD | 296 | 0.38% | 278 | 0.34% |
| Others | 2,609 | 3.33% | 3,482 | 4.29% |
| Total | 78,446 | 100% | 81,148 | 100% |
Source: FADA Research
Disclaimer:
1- The above numbers do not have figures from TS & LD.
2- Vehicle Retail Data has been collated as on 06.04.24 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,360 out of 1,447 RTOs.
OEM wise Market Share Data for FY’24 with YoY comparison
| Two-Wheeler OEM | FY’24 | Market Share (%) FY’24 | FY’23 | Market Share (%) FY’23 |
| HERO MOTOCORP LTD | 53,95,924 | 30.80% | 51,35,129 | 32.04% |
| HONDA MOTORCYCLE AND SCOOTER INDIA (P) LTD | 40,92,126 | 23.36% | 39,73,186 | 24.79% |
| TVS MOTOR COMPANY LTD | 29,65,744 | 16.93% | 24,89,121 | 15.53% |
| BAJAJ AUTO GROUP | 21,08,049 | 12.03% | 17,04,445 | 10.63% |
| BAJAJ AUTO LTD | 21,07,486 | 12.03% | 17,00,153 | 10.61% |
| CHETAK TECHNOLOGY LIMITED | 563 | 0.00% | 4,292 | 0.03% |
| SUZUKI MOTORCYCLE INDIA PVT LTD | 8,46,991 | 4.84% | 6,87,176 | 4.29% |
| ROYAL-ENFIELD (UNIT OF EICHER LTD) | 7,80,904 | 4.46% | 6,98,117 | 4.36% |
| INDIA YAMAHA MOTOR PVT LTD | 6,06,560 | 3.46% | 5,56,308 | 3.47% |
| OLA ELECTRIC TECHNOLOGIES PVT LTD | 3,29,237 | 1.88% | 1,52,791 | 0.95% |
| ATHER ENERGY PVT LTD | 1,08,889 | 0.62% | 76,939 | 0.48% |
| PIAGGIO VEHICLES PVT LTD | 35,811 | 0.20% | 42,773 | 0.27% |
| GREAVES ELECTRIC MOBILITY PVT LTD | 31,273 | 0.18% | 1,032 | 0.01% |
| CLASSIC LEGENDS PVT LTD | 30,881 | 0.18% | 40,794 | 0.25% |
| AMPERE VEHICLES PRIVATE LIMITED | 23,771 | 0.14% | 84,562 | 0.53% |
| OKINAWA AUTOTECH PVT LTD | 20,873 | 0.12% | 95,933 | 0.60% |
| Others Including EV | 1,40,140 | 0.80% | 2,89,105 | 1.80% |
| Total | 1,75,17,173 | 100% | 1,60,27,411 | 100% |
Source: FADA Research
Disclaimer:
- The above numbers do not have figures from TS & LD.
- Vehicle Retail Data has been collated as on 06.04.24 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,360 out of 1,447 RTOs.
- Others include OEMs accounting less than 0.1% Market Share.
| Three-Wheeler OEM | FY’24 | Market Share (%) FY’24 | FY’23 | Market Share (%) FY’23 |
| BAJAJ AUTO LTD | 4,19,070 | 35.95% | 2,64,756 | 33.80% |
| PIAGGIO VEHICLES PVT LTD | 94,618 | 8.12% | 67,806 | 8.66% |
| MAHINDRA & MAHINDRA LIMITED | 70,433 | 6.04% | 48,300 | 6.17% |
| MAHINDRA LAST MILE MOBILITY LTD | 31,563 | 2.71% | – | 0.00% |
| MAHINDRA & MAHINDRA LIMITED | 38,122 | 3.27% | 30,994 | 3.96% |
| MAHINDRA REVA ELECTRIC VEHICLES PVT LTD | 748 | 0.06% | 17,306 | 2.21% |
| YC ELECTRIC VEHICLE | 42,754 | 3.67% | 31,838 | 4.06% |
| SAERA ELECTRIC AUTO PVT LTD | 30,124 | 2.58% | 22,256 | 2.84% |
| DILLI ELECTRIC AUTO PVT LTD | 26,177 | 2.25% | 16,960 | 2.17% |
| ATUL AUTO LTD | 22,506 | 1.93% | 20,717 | 2.64% |
| TVS MOTOR COMPANY LTD | 18,530 | 1.59% | 14,300 | 1.83% |
| MINI METRO EV L.L.P | 16,069 | 1.38% | 12,174 | 1.55% |
| CHAMPION POLY PLAST | 14,009 | 1.20% | 14,515 | 1.85% |
| UNIQUE INTERNATIONAL | 13,968 | 1.20% | 11,018 | 1.41% |
| HOTAGE CORPORATION INDIA | 13,903 | 1.19% | 6,004 | 0.77% |
| Others including EV | 3,83,538 | 32.90% | 2,52,613 | 32.25% |
| Total | 11,65,699 | 100% | 7,83,257 | 100% |
Source: FADA Research
Disclaimer:
1. The above numbers do not have figures from TS & LD.
2. Vehicle Retail Data has been collated as on 06.04.24 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,360 out of 1,447 RTOs.
3. Others include OEMs accounting less than 1% Market Share.
| Commercial Vehicle OEM | FY’24 | Market Share (%) FY’24 | FY’23 | Market Share (%) FY’23 |
| TATA MOTORS LTD | 3,59,499 | 35.70% | 3,73,496 | 38.88% |
| MAHINDRA & MAHINDRA LIMITED | 2,41,730 | 24.00% | 2,25,889 | 23.51% |
| ASHOK LEYLAND LTD | 1,67,168 | 16.60% | 1,55,495 | 16.19% |
| VE COMMERCIAL VEHICLES LTD | 74,194 | 7.37% | 63,899 | 6.65% |
| MARUTI SUZUKI INDIA LTD | 42,607 | 4.23% | 40,904 | 4.26% |
| DAIMLER INDIA COMMERCIAL VEHICLES PVT. LTD | 21,231 | 2.11% | 17,149 | 1.79% |
| FORCE MOTORS LIMITED, A FIRODIA ENTERPRISE | 16,811 | 1.67% | 12,518 | 1.30% |
| SML ISUZU LTD | 10,659 | 1.06% | 9,154 | 0.95% |
| Others | 73,107 | 7.26% | 62,151 | 6.47% |
| Total | 10,07,006 | 100.00% | 9,60,655 | 100.00% |
Source: FADA Research
Disclaimer:
1. The above numbers do not have figures from TS & LD.
2. Vehicle Retail Data has been collated as on 06.04.24 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,360 out of 1,447 RTOs.
| PV OEM | FY’24 | Market Share (%) FY’24 | FY’23 | Market Share (%) FY’23 |
| MARUTI SUZUKI INDIA LTD | 16,05,264 | 40.66% | 14,90,202 | 40.94% |
| HYUNDAI MOTOR INDIA LTD | 5,61,371 | 14.22% | 5,27,481 | 14.49% |
| TATA MOTORS LTD | 5,38,264 | 13.63% | 4,92,122 | 13.52% |
| MAHINDRA & MAHINDRA LIMITED | 4,24,570 | 10.75% | 3,26,213 | 8.96% |
| KIA MOTORS INDIA PVT LTD | 2,25,539 | 5.71% | 2,35,435 | 6.47% |
| TOYOTA KIRLOSKAR MOTOR PVT LTD | 2,12,646 | 5.39% | 1,59,322 | 4.38% |
| SKODA AUTO VOLKSWAGEN GROUP | 88,412 | 2.24% | 88,492 | 2.43% |
| SKODA AUTO VOLKSWAGEN INDIA PVT LTD | 87,289 | 2.21% | 86,818 | 2.38% |
| VOLKSWAGEN AG/INDIA PVT. LTD. | 21 | 0.00% | 249 | 0.01% |
| AUDI AG | 1,082 | 0.03% | 808 | 0.02% |
| SKODA AUTO INDIA/AS PVT LTD | 20 | 0.00% | 617 | 0.02% |
| HONDA CARS INDIA LTD | 79,454 | 2.01% | 83,491 | 2.29% |
| MG MOTOR INDIA PVT LTD | 49,737 | 1.26% | 41,859 | 1.15% |
| RENAULT INDIA PVT LTD | 46,614 | 1.18% | 75,447 | 2.07% |
| NISSAN MOTOR INDIA PVT LTD | 27,317 | 0.69% | 30,395 | 0.83% |
| MERCEDES -BENZ GROUP | 15,599 | 0.40% | 14,456 | 0.40% |
| MERCEDES-BENZ INDIA PVT LTD | 14,267 | 0.36% | 13,882 | 0.38% |
| MERCEDES -BENZ AG | 1,282 | 0.03% | 552 | 0.02% |
| DAIMLER AG | 50 | 0.00% | 22 | 0.00% |
| BMW INDIA PVT LTD | 13,542 | 0.34% | 10,900 | 0.30% |
| PCA AUTOMOBILES INDIA PVT LTD | 8,330 | 0.21% | 5,990 | 0.16% |
| FORCE MOTORS LIMITED, A FIRODIA ENTERPRISE | 7,548 | 0.19% | 5,639 | 0.15% |
| FIAT INDIA AUTOMOBILES PVT LTD | 6,166 | 0.16% | 11,839 | 0.33% |
| JAGUAR LAND ROVER INDIA LIMITED | 3,764 | 0.10% | 2,069 | 0.06% |
| VOLVO AUTO INDIA PVT LTD | 2,127 | 0.05% | 1,752 | 0.05% |
| BYD INDIA PRIVATE LIMITED | 1,774 | 0.04% | 1,096 | 0.03% |
| Others | 30,105 | 0.76% | 36,199 | 0.99% |
| Total | 39,48,143 | 100% | 36,40,399 | 100% |
Source: FADA Research
Disclaimer:
1. The above numbers do not have figures from TS & LD.
2. Vehicle Retail Data has been collated as on 06.04.24 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,360 out of 1,447 RTOs.
| Tractor OEM | FY’24 | Market Share (%) FY’24 | FY’23 | Market Share (%) FY’23 |
| MAHINDRA & MAHINDRA LIMITED (TRACTOR) | 2,04,737 | 22.94% | 1,76,763 | 21.31% |
| MAHINDRA & MAHINDRA LIMITED (SWARAJ DIVISION) | 1,59,958 | 17.93% | 1,28,725 | 15.52% |
| INTERNATIONAL TRACTORS LIMITED | 1,14,207 | 12.80% | 97,775 | 11.79% |
| TAFE LIMITED | 1,08,101 | 12.11% | 92,599 | 11.16% |
| ESCORTS LIMITED (AGRI MACHINERY GROUP) | 89,830 | 10.07% | 79,543 | 9.59% |
| JOHN DEERE INDIA PVT LTD(TRACTOR DEVISION) | 63,718 | 7.14% | 64,570 | 7.78% |
| EICHER TRACTORS | 59,514 | 6.67% | 53,068 | 6.40% |
| CNH INDUSTRIAL (INDIA) PVT LTD | 36,227 | 4.06% | 30,051 | 3.62% |
| KUBOTA AGRICULTURAL MACHINERY INDIA PVT.LTD. | 17,673 | 1.98% | 20,762 | 2.50% |
| CAPTAIN TRACTORS PVT. LTD. | 5,038 | 0.56% | 3,451 | 0.42% |
| V.S.T. TILLERS TRACTORS LIMITED | 4,342 | 0.49% | 5,293 | 0.64% |
| GROMAX AGRI EQUIPMENT LTD | 3,197 | 0.36% | 3,107 | 0.37% |
| Others | 25,771 | 2.89% | 73,932 | 8.91% |
| Total | 8,92,313 | 100% | 8,29,639 | 100% |
Source: FADA Research
Disclaimer:
- The above numbers do not have figures from TS & LD.
- Vehicle Retail Data has been collated as on 06.04.24 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,360 out of 1,447 RTOs.
