As demand continues to soar for SUVs and MPVs in India, carmakers have ramped up production of their popular models. In the first 10 months of FY2024 (April-January), a total of 20,61,075 utility vehicles (UVs) have already been sold, which is a 25 percent year-on-year growth.
Eight models – three from Maruti Suzuki (Brezza, Ertiga, Fronx), two from Hyundai (Creta, Venue), two from Tata Motors (Nexon, Punch) and one from Mahindra (Scorpio) – have each sold over 1,00,000 units since April 2023. Together, these eight models account for an estimated 48 percent of the total 2 million UVs sold in the same period.
Of these, the Tata Nexon, Maruti Brezza and Hyundai Creta have each sold over 1,30,000 units and are engaged in a battle for the crown of India’s bestselling SUV of FY2024. With two months left for FY2024 to come to an end, the race to the top seems to be a tightly contested one.
Nexon aiming to be top seller for third straight year
At the end of January 2024, with estimated wholesales of 1,43,244 units, the Tata Nexon has a lead of 3,726 units over the Maruti Brezza (1,39,518 units) and of 12,205 units over the Hyundai Creta (1,31,039 units). The Nexon took the title of India’s bestselling SUV in FY2022 from the Creta, and maintained its position through FY2023.
Launched in September 2017, the Tata Nexon has sold a total of 6,29,083 units, becoming the first model in Tata Motors’ line-up to sell over 6,00,000 units in the domestic market. In a little over six years, it has contributed 29 percent to Tata Motors’ passenger vehicle sales of over 2.14 million units.
The Nexon has hugely benefited from Tata Motors’ multi-fuel strategy – there are 43 variants on offer across petrol (20 variants), diesel (14 variants) and electric (nine variants), which means there is a Nexon for every budget. Earlier this month, Tata Motors also showcased the Nexon iCNG at the Bharat Mobility Expo.
What will give a fillip to Nexon sales in the coming months is the compact SUV acing the GNCAP crash test with a 5-star rating for the second time. This time around, the test was conducted under GNCAP’s new and more stringent protocol. Furthermore, Tata Motors’ slashing of Nexon.ev prices by up to Rs 1,20,000 will add more tailwind to the Nexon EV’s sales.
Maruti Brezza looking to regain its crown
The Maruti Brezza was India’s bestselling SUV for four straight years – in FY2017, FY2018, FY2019 and FY2020. In FY2021, it ceded the title to the Hyundai Creta, was ranked third in FY2022 and FY2023, and is currently second in the wholesale rankings in the first 10 months of FY2024 with an estimated 1,39,518 units.
Brezza’s demand can be gauged from the fact that it has driven past the one-million sales milestone in India, with the last 1,00,000 units achieved in a scant eight months. What helped accelerate sales is the introduction of the Brezza CNG variant in March 2023. Prior to that, the Brezza had started to lose its sheen to the Tata Nexon but the CNG variant significantly shot up sales for the Brezza.
Creta pumps the volume in the midsize SUV class
Keeping close company with the two high-selling compact SUVs is India’s bestselling midsize SUV, the Hyundai Creta. At 1,31,039 units sold in the first 10 months of FY2024, it is behind the Nexon and Brezza but seems to be making a concerted bid nonetheless. Between April 2023 and January 2024, monthly wholesales of the Creta crossed the 14,000-unit mark four times. Numbers dropped to 9,243 in December 2023, mainly because of the new Creta’s launch in January 2024, with numbers rising to 13,212 units again. The last 1,00,000-unit sales have come in a scant eight months, reflecting the sustained demand for the popular Hyundai model.
The Creta contributed 44 percent to Hyundai’s estimated UV sales of 3,60,823 units last year. Hyundai, which aims to grow its SUV contribution to 65 percent in its total volumes in CY2024 from 60 percent in CY2023, has already received over 51,000 bookings for the new Creta with around 55 percent of them for the petrol variants and 45 percent for the diesel.
Clearly, the race is on for the top SUV title this fiscal and we will have to wait for February and March 2024 wholesales to know who clinches the crown. There’s another surprise challenger waiting in the wings – the Tata Punch, which is available with petrol and CNG power and has just gone electric. Stay tuned.
Hormazd Sorabjee
Anurag Chaturvedi
