Passenger Vehicle (PV) Sales March 2024: Maruti Suzuki Leads, 3,40,690 Units Registered
Full Vahan registration report for passenger vehicles (cars, UVs and taxis) in March 2024 — every major manufacturer ranked, with month-on-month and year-on-year change, segment share, fuel mix and the state-wise picture.
How March went
India's passenger vehicle market registered 3,40,690 vehicles in March 2024. Volumes edged down 3.6% against March 2023, and eased 2.6% on February.
Passenger vehicles (PV, also called 4W) are privately registered cars and UVs plus taxis and cabs, which Vahan books as a class of their own. In March 2024 that was 3,10,805 cars and UVs and 29,885 taxis and cabs; taxis were 8.8% of the total. Against March 2023, cars and UVs were −6.7% and taxis +49.1%.
Year to date, 11,11,734 units have been registered across 3 months, +8.5% on the same stretch of 2023 (10,24,789). The segment accounted for 15.2% of every vehicle registered in India that month.
March is the fiscal year-end, when dealers clear stock and commercial buyers time purchases for the depreciation year.
For longer windows, see PV sales for Q4 FY 2023-24 and calendar year 2024.
Monthly passenger vehicle registrations, 2023–2026
One line per calendar year — the shape of the year, not just its total. The dashed end of the current year is the month so far.
Manufacturer scoreboard
Maruti Suzuki led the segment with 1,33,916 registrations, ahead of Hyundai on 46,552 — a gap of 87,364 units, narrower than the 89,705 it held in February.
Tata Motors (EV) grew fastest among the segment's biggest names at +372150.0% year on year (7,445 units); Tata Motors (PV) had the hardest month of that group, down 16.9% to 40,378.
On share rather than volume — the number that decides who is actually winning — Mahindra has added 1.65pp of the segment in 2024, while Tata Motors (PV) has given up 0.88pp.
Top 10 manufacturers, March 2024
Registrations in the month
Ranked by registrations in the month, with month-on-month and year-on-year change. Click a name for its full dashboard.
| # | Manufacturer | Mar 2024 | MoM | YoY | Share of passenger vehicles |
|---|---|---|---|---|---|
| 1 | Maruti Suzuki | 1,33,916 | −3.7% | −7.4% | 39.31% |
| 2 | Hyundai | 46,552 | −5.8% | −4.5% | 13.66% |
| 3 | Mahindra | 40,995 | +0.6% | +18.6% | 12.03% |
| 4 | Tata Motors (PV) | 40,378 | −3.4% | −16.9% | 11.85% |
| 5 | Kia India | 21,172 | −3.3% | −5.6% | 6.21% |
| 6 | Toyota Kirloskar | 20,527 | −3.0% | +19.4% | 6.03% |
| 7 | Tata Motors (EV) | 7,445 | +41.2% | +372150.0% | 2.19% |
| 8 | Honda Cars | 6,782 | −5.0% | +0.4% | 1.99% |
| 9 | Skoda | 6,263 | −1.6% | −27.9% | 1.84% |
| 10 | MG Motor | 4,080 | −2.8% | −22.3% | 1.20% |
| 11 | Renault India | 3,709 | +3.6% | −28.7% | 1.09% |
| 12 | Nissan India | 2,128 | −13.5% | −21.3% | 0.62% |
| 13 | Mercedes-Benz | 1,618 | +20.4% | −9.4% | 0.47% |
| 14 | BMW India | 1,207 | +1.7% | +27.2% | 0.35% |
| 15 | Tata Motors | 814 | +19.7% | +10.7% | 0.24% |
Registrations inside the segment only, counted with Vahan's own vehicle-class filter, so each number is that manufacturer's passenger vehicle volume (its cars and UVs plus its taxis and cabs). Companies that file electric models under a maker of their own (Tata, Mahindra) appear as separate rows.
Market share, year to date
Share is measured inside the segment itself — only passenger vehicle volume counts on either side of the ratio. Volume is full-year 2024. The comparison is against the whole of 2023.
Exact segment volume per manufacturer over full-year 2024, and the change in share against full-year 2023.
| # | Manufacturer | 2024 units | Share | vs full-year 2023 |
|---|---|---|---|---|
| 1 | Maruti Suzuki | 17,04,857 | 40.30% | −0.80pp |
| 2 | Hyundai | 5,84,017 | 13.81% | −0.53pp |
| 3 | Mahindra | 5,07,812 | 12.01% | +1.65pp |
| 4 | Tata Motors (PV) | 4,90,619 | 11.60% | −0.88pp |
| 5 | Toyota Kirloskar | 2,67,900 | 6.33% | +1.39pp |
| 6 | Kia India | 2,50,453 | 5.92% | −0.02pp |
| 7 | Skoda | 84,681 | 2.00% | −0.41pp |
| 8 | Honda Cars | 72,724 | 1.72% | −0.28pp |
| 9 | Tata Motors (EV) | 63,851 | 1.51% | +0.51pp |
| 10 | MG Motor | 56,434 | 1.33% | −0.01pp |
| 11 | Renault India | 40,597 | 0.96% | −0.35pp |
| 12 | Nissan India | 26,202 | 0.62% | −0.07pp |
| 13 | Mercedes-Benz | 17,182 | 0.41% | +0.02pp |
| 14 | BMW India | 15,189 | 0.36% | +0.03pp |
| 15 | Tata Motors | 9,973 | 0.24% | +0.06pp |
Fuel mix
Petrol accounts for 52.7% of the segment's registrations in 2024. Electric is at 2.49%, a move of +0.27pp on 2023 on volume of 1,05,143 units.
Passenger Vehicle fuel mix, 2024
Share of segment registrations year to date
The full-year 2024 mix.
| Fuel | 2024 units | Share | vs full-year 2023 |
|---|---|---|---|
| Petrol | 22,27,473 | 52.66% | −4.94pp |
| Diesel | 7,71,265 | 18.23% | +0.42pp |
| CNG / LPG | 7,69,566 | 18.19% | +4.06pp |
| Hybrid | 3,56,085 | 8.42% | +0.19pp |
| Electric | 1,05,143 | 2.49% | +0.27pp |
| Other | 364 | 0.01% | 0.00pp |
Share is of this report's own scope over full-year 2024, compared with the whole of 2023.
Where the demand is
Maharashtra was the largest market in full-year 2024 with 5,00,653 registrations, 11.8% of the segment's national total. Uttar Pradesh (4,67,370) and Gujarat (3,56,782) followed. Haryana has gained the most ground, adding 0.71pp of the national total.
Segment registrations over full-year 2024, by state.
| # | State | Units | Share | vs full-year 2023 |
|---|---|---|---|---|
| 1 | Maharashtra | 5,00,653 | 11.8% | +0.10pp |
| 2 | Uttar Pradesh | 4,67,370 | 11.0% | +0.64pp |
| 3 | Gujarat | 3,56,782 | 8.4% | −0.32pp |
| 4 | Karnataka | 3,12,835 | 7.4% | −0.19pp |
| 5 | Haryana | 3,01,018 | 7.1% | +0.71pp |
| 6 | Tamil Nadu | 2,74,321 | 6.5% | −0.03pp |
| 7 | Rajasthan | 2,22,755 | 5.3% | +0.25pp |
| 8 | Kerala | 2,08,870 | 4.9% | −0.09pp |
| 9 | Delhi | 1,95,192 | 4.6% | −0.35pp |
| 10 | Madhya Pradesh | 1,89,529 | 4.5% | +0.24pp |
| 11 | Telangana | 1,77,851 | 4.2% | −0.55pp |
| 12 | Punjab | 1,58,622 | 3.8% | +0.25pp |
Frequently asked questions
How many passenger vehicles were sold in India in March 2024?
What counts as a passenger vehicle (PV)?
Which company sold the most passenger vehicles in March 2024?
What is the passenger vehicle market share in India in 2024?
What share of passenger vehicles sold in India are electric?
Which state registers the most passenger vehicles in India?
Are these wholesale dispatches or retail sales?
Passenger Vehicle sales, earlier months
More from the reports desk
Source. Every figure is a vehicle registration, taken from the Ministry of Road Transport & Highways' Vahan 4 dashboard (vahan.parivahan.gov.in) — the same source FADA and the industry use for retail data. Registrations are not the wholesale dispatch numbers manufacturers announce each month. "EV" means battery electric (Vahan fuels PURE EV and ELECTRIC(BOV)); hybrids are counted separately. Information only, not investment advice.
Using these numbers? Cite "Flash Finance (Vahan data)" with a link to this page. This report's chart card is free to republish with the same credit.
