Maruti Suzuki India Limited (MSIL), a dominant player in the Indian automotive market, wrapped up 2024 with remarkable growth across all segments, showcasing its prowess in domestic, export, and light commercial vehicle (LCV) sales. This analysis delves into MSIL’s stellar performance in December 2024 and Q4 2024, as well as its segment-wise achievements and export milestones.
December 2024 Sales Highlights
Maruti Suzuki recorded robust growth in December 2024, underlining its stronghold in the automotive market:
- Domestic Sales
MSIL achieved a 24.18% YoY growth in domestic passenger vehicle (PV) sales, with 1,30,117 units sold, compared to 1,04,778 units in December 2023. - Exports
The company excelled in exports, registering a remarkable 39.19% growth by shipping 37,419 units, a significant jump from 26,884 units in December 2023. - Light Commercial Vehicles (LCVs)
The Super Carry led the LCV segment with sales of 2,406 units, marking a 40.37% YoY growth from 1,714 units in December 2023. - Total Sales
Overall, MSIL’s sales surged to 1,78,248 units in December 2024, a 29.59% increase compared to 1,37,551 units in December 2023.
Maruti Suzuki Q4 2024: A Quarter of Consistency and Growth
The last quarter of 2024 proved highly successful for Maruti Suzuki, with notable performances in all key areas:
- Domestic Sales
Maruti Suzuki sold 4,31,020 units in Q4 2024, a 5.91% increase from 4,06,983 units in Q4 2023. - Exports
Exports surged by 38.22%, with 99,220 units shipped compared to 71,785 units in Q4 2023, reflecting growing global demand for Maruti’s vehicles. - Sales to Toyota
Sales to Toyota skyrocketed by 89.23%, reaching 27,102 units in Q4 2024 compared to 14,322 units in Q4 2023, signaling a strong partnership. - Light Commercial Vehicles (LCVs)
LCV sales increased by 9.29%, with 8,871 units sold compared to 8,117 units in Q4 2023. - Total Sales
Maruti Suzuki’s total sales for Q4 2024 reached 5,66,213 units, a 12.97% YoY growth from 5,01,207 units in Q4 2023.
Segment-Wise Analysis: December 2024
- Mini & Compact Cars
- Sales reached 62,324 units, up from 48,298 units in December 2023.
- Models such as Alto, S-Presso, Baleno, Swift, and Dzire drove this growth.
- Utility Vehicles (UVs)
- UV sales climbed to 55,651 units, compared to 45,957 units in December 2023.
- Popular models included Brezza, Ertiga, Grand Vitara, and Jimny.
- Vans
- The Eeco van performed well, with sales of 11,678 units, up from 10,034 units in December 2023.
Strong Export Performance
Maruti Suzuki’s export operations continued to flourish in 2024:
- December 2024: 37,419 units exported, a 39.19% growth over December 2023.
- Q4 2024: 99,220 units exported, marking a 38.22% growth compared to Q4 2023.
These achievements demonstrate Maruti’s ability to penetrate international markets and meet the evolving demands of global consumers.
| Category | Dec-24 | Dec–23 | Growth (%) | Q4 2024 | Q4 2023 | Growth (%) |
| Domestic Sales | 130,117 | 104,778 | 24.18 | 431,020 | 406,983 | 5.91 |
| Exports | 37,419 | 26,884 | 39.19 | 99,220 | 71,785 | 38.22 |
| Sales to Toyota | – | – | – | 27,102 | 14,322 | 89.23 |
| LCV Sales | 2,406 | 1,714 | 40.37 | 8,871 | 8,117 | 9.29 |
| Total Sales | 178,248 | 137,551 | 29.59 | 566,213 | 501,207 | 12.97 |
| Mini & Compact Cars | 62,324 | 48,298 | 29 | – | – | – |
| Utility Vehicles | 55,651 | 45,957 | 21.07 | – | – | – |
| Vans | 11,678 | 10,034 | 16.37 | – | – | – |
Key Insights and Future Outlook
Maruti Suzuki’s consistent performance in 2024 reflects its adaptability, product quality, and consumer trust. Significant contributions from the compact car and utility vehicle segments, along with an expanding LCV portfolio, have reinforced its leadership position in the Indian market.
As Maruti gears up to showcase the all-electric eVitara at the Bharat Expo in January 2025, the company is poised for continued growth in the upcoming year.
