The first day of the new year has come with a slew of unexpected numbers for the automotive industry in India. In December 2024, automakers reported a wide variation in their wholesales ranging from strong robust double-digit growth to flat growth to even negative sales in the domestic market.

The country’s largest passenger vehicle manufacturer Maruti Suzuki India reported sales of 130,117 units in December 2024, up 24 percent YoY, as against 104,778 units for the same period last year.

Hyundai Motor India clocked 42,208 units for the same period, down 1.3 percent YoY, which it said was on the back of strong headwinds faced by the industry.

Tarun Garg, Whole-time Director and Chief Operating Officer, Hyundai Motor India, said, “HMIL has managed to sustain sales momentum in 2024, despite strong headwinds faced by the industry at large. Achieving highest ever domestic sales three years in a row, reflects customers’ preference for brand Hyundai as their trusted smart mobility solutions provider. Introduction of the innovative Hy-CNG Duo technology in 2024 resonated well with buyers, translating to the highest-ever CNG contribution of 13.1 percent to HMIL’s domestic sales in CY 2024, against 10.4 percent in CY 2023. By achieving highest ever yearly domestic sales of 1,86,919 units, Hyundai Creta continued to strengthen HMIL’s position as an SUV leader, helping HMIL accomplish highest ever domestic SUV contribution of 67.6 percent in CY 2024. We are confident that the upcoming Creta Electric, will further expand the appeal of this undisputed, ultimate SUV.”

Mumbai-based SUV maker Mahindra & Mahindra has constantly witnessed strong growth momentum on the back of its product offensive. The company clocked wholesales of 41,424 units, which was 17 percent higher YoY, as compared to 35,174 units for the same period last year.

Veejay Nakra, President, Automotive Division, Mahindra & Mahindra, stated, “We sold 41,424 SUVs, a growth of 18 percent and 69,768 total vehicles, a growth of 16 percent in December. The year ended on a high, as we became the only Indian auto company to attain the Dow Jones Sustainability Index (DJSI) world leader status within the Auto Sector. The DJSI ranking is one of the most respected global benchmarks for ESG performance, covering over 13,000 companies across various industries and we are ranked 1st among all global auto OEMs.”

Toyota Kirloskar Motor on its part sold 29,529 vehicles, which was 29 percent higher than 22,867 units sold for the same period last year.

Sabari Manohar, Vice-President, Sales-Service-Used Car Business, Toyota Kirloskar Motor, said, "We are immensely proud to close 2024 with a record-breaking performance, achieving an impressive 40 percent year-on-year growth. The SUV and MPV segments being key contributors grew at 20 percent over the same period last year. We are also observing a growing shift of consumer preferences towards vehicles offering sustainability, value proposition of dependability quotient, enhanced safety and better resale value which is boosting our sales.”

JSW MG Motor India’s bet on electric vehicles seems to have started to pay off. The company reported a 55 percent growth (albeit a low-year ago base) in December 2024 with sales of 7,516 units, as against 4,484 units last year.

Interestingly, the company witnessed 70 percent of its sales coming from its electric vehicle portfolio with the Windsor EV alone contributing sales of 3,785 units.

“The Windsor EV emerged as a market leader, despite market challenges. Our innovative Battery-As-A-Service offering and customer-centric mobility solutions continue to shape the future of India’s automotive landscape. Going forward, we will maintain our growth momentum while driving continuous disruption and innovation,” the company said in a statement.

Nissan Motor India reported sales of 2,118 units in the domestic market, which was down 1.5 percent as against 2,150 units sold for the same period last year. On the other hand, the company also announced that its popular Magnite SUV has crossed 10,000 booking milestone at the start of the new year.

Saurabh Vatsa, Managing Director, Nissan Motor India, said, “The year 2024 marked a transformative phase for Nissan in India as we embarked on the turnaround and introduced new models like the 4th Generation Nissan X-Trail and the new Nissan Magnite. This historic best sales performance in December also reflects the continued trust and enthusiasm of customers for our vehicles in both domestic and international markets. Our recent network expansion into cities like Nashik and Gorakhpur, along with the goal of achieving 300 touchpoints by the end of this fiscal year, reflects our focus on enhancing customer reach and experience across the country.”

“We remain committed to our dealers, partners and stakeholders in India and are focused on delivering the India turnaround plan. We are optimistic about building on this momentum to deliver even more value to our customers in the year ahead,” added Vatsa.

Volvo Eicher Commercial Vehicles reported a flat growth of 7,545 units as against 7,468 units it sold in the same month last year.

Bajaj Auto reported a negative growth of 19 percent with sales of 1,28,335 two-wheelers as against 1,58,370 two-wheelers it sold last year.

For Tata Motors, while the PV wholesales was in the green, the CV sales were in the red.

In December 2024, Tata Motors sold 44,230 passenger vehicles, up 1.7 percent, as against 43,470 units sold last year. On the other hand, the CV sales came at 32,369 units, down 0.9 percent, as against 32,668 units sold for the same period last year.

Girish Wagh, Executive Director, Tata Motors Ltd. said, “Sales in December 2024 were around 24 percent higher than those recorded in November 2024. Propelled by a resurgence in construction and mining activities post-monsoon, plus the festive season demand. Looking ahead, we expect demand to improve in Q4 FY25 across most segments of the CV industry. The key aspects to watch out in 2025 will be government’s focus on infrastructure spend, and growth in end use segments, which will augur well for the commercial vehicles industry.”

Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, said, “The PV industry posted moderate growth in CY24 and is expected to touch a sales volume of 4.3 million units, with strong growth in the SUV segment and sustained traction for emission-friendly powertrains. In Q3 FY25, the industry saw a strong revival, driven by increased retails in the festive season. For Tata Motors, CY24 was the fourth consecutive year of highest-ever annual sales with 565,000 units sold. We registered strong growth in our SUV portfolio with successful product introductions built on our proven multi-powertrain strategy. CNG volumes grew a substantial 77 percent with over 120,000 CNG vehicles sold in CY24. SUV volumes grew a robust 19 percent, with Punch selling over 200,000 units to emerge as the highest selling car model in India in CY24. Looking ahead, we remain optimistic about the outlook for the PV industry. With multiple product launches, innovations and a strengthened multi-powertrain strategy, Tata Motors is well poised for further growth in CY2025.”

The latest data released by the Society of Indian Automobile Manufacturers (SIAM) show that the Indian automotive industry wrapped up FY 2024-25 with a solid performance, driven by resilient domestic demand, an uptick in exports, and a renewed push toward green mobility.

While the pace of growth varied across segments, the industry overall clocked a healthy 7.3 percent increase in domestic sales, reinforcing its steady recovery trajectory in a post-pandemic economy.

The passenger vehicles segment posted its highest-ever annual sales, breaching the 4.3 million mark – a 2 percent rise over the previous year. Although the high base of FY 2023–24 tempered the growth rate, the segment continued to impress with its scale.

SUVs emerged as the dominant sub-segment, accounting for 65 percent of total PV sales, up from 60 percent last year.

The market responded enthusiastically to new launches and customer demand towards higher ground clearance models. It is also important to note that discounts and promotions kept demand buoyant.

On the exports front, a record 770,000 units were shipped, up 14.6 percent, fuelled by demand from Latin America, Africa and emerging interest from developed markets.

India’s ubiquitous two-wheelers rebounded strongly with 19.6 million units sold, marking a 9.1 percent growth over the previous year. The scooter category led the charge, boosted by improved rural and semi-urban road connectivity.

EV penetration crossed 6 percent, reflecting a growing preference for sustainable options.

Two-wheeler exports rose by 21.4 percent, supported by macroeconomic stability in Africa and expansion into Latin American markets.

The three-wheeler segment on the other hand scaled new highs with 741,420 units sold, a 6.7 percent growth over FY 2023–24. Urban and semi-urban demand for last-mile transport, especially electric models seem to have played a key role.

The commercial vehicles segment posted a slight 1.2 percent decline in annual sales, though Q4 offered a glimmer of hope with a 1.5 percent uptick. Light CVs struggled, while Medium & Heavy CVs (M&HCVs) remained steady. Infrastructure development spurred demand for buses and higher-GVW trucks.

CV exports jumped by 23 percent, indicating global recovery in freight mobility.

In terms of EV sales, the country saw 1.97 million green vehicles sold, up 16.9 percent, with electric two-wheelers seeing a 21.2 percent rise in registrations.

Looking Ahead: Optimism with Caution

The industry body stated that going forward leaders are cautiously optimistic about FY 2025–26. Normal monsoon forecasts are expected to aid rural demand. Recent personal income tax reforms and RBI rate cuts could boost vehicle financing and overall consumer sentiment. Continued export momentum, especially in Africa and neighbouring regions, will offer strategic resilience.

But on the other hand, challenges loom in the form of global geopolitical tensions and evolving supply chain dynamics.

Shailesh Chandra, President, SIAM, said, “The Indian automobile industry continued its steady performance in FY2024–25, driven by healthy demand, infrastructure investments, supportive government policies and continued emphasis on sustainable mobility. Passenger vehicles, two-wheelers and three-wheelers grew in FY2024-25 compared to FY2023-24, but growth rates have been varied across segments. Passenger vehicles and three-wheelers witnessed a moderate growth on account of the high base effect but saw the highest-ever sales in these categories, while the two-wheeler segment registered strong growth in FY2024-25. However, commercial vehicles witnessed a slight degrowth in the FY2024-25, though performance in recent months has been comparatively better. On the exports front, good recovery is seen across all segments, particularly passenger vehicles and two-wheelers reflecting improved global demand and India's growing competitiveness. In FY2024-25, the government of India introduced the PM E DRIVE scheme and PM e-Sewa schemes which underscores the firm commitment of the Government towards promoting sustainable mobility. Looking ahead, the backdrop of stable policy environment, along with recent measures such as reforms in personal income tax and RBI’s rate cuts, will help in supporting consumer confidence and demand across segments.

Mahindra & Mahindra Ltd (M&M Ltd) has inaugurated the Mahindra India Design Studio (MIDS), a state-of-the-art creative facility that marks a significant leap ahead in the company’s automotive and industrial design capabilities. 
Located in the group’s automotive manufacturing site at Kandivali in Mumbai, MIDS marks the expansion of the existing design studio at the same location with the addition of new and modern equipment such as the Kolb clay milling machine with two five-axis milling centres on a single ‘bed’ that would enable prototyping of two projects – an exterior or interior of a vehicle, two exterior works or more – at the same time in an effort to contribute to time-to-market. 
Marking the doubling of the studio size and reaffirming M&M's commitment to design excellence as a cornerstone of the product development strategy, the MIDS has also acquired a new paint booth to support paint design and development activities regarding new designs. 
With ‘Heartcare’ design philosophy driving the group’s push into the SUV space, the MIDS will also work on other automotive areas such as commercial vehicles and tractors. 
Marking a significant upgrade of a facility that was originally set up in 2015 as a dedicated studio to support M&M's auto and farm business, the newer and bigger set up is already tapping the growing talent in the respective field in the country.  
To be headed by Ajay Saran Sharma, the MIDS will have a 100 strong team to drive design project management, concept design, digital designing, physical modelling, studio engineering, CMF design, design quality/Realisation and HMI/UI/UX. The finer elements would include exterior and interior designing, visualisation, clay modelling, prototyping and more. 
Capable of supporting working progress on two or three projects at the same time and not just regarding passenger vehicles but also regarding commercial vehicles and tractors, MIDS will serve as a collaborative bridge between India and Mahindra’s global design outpost – the Mahindra Advanced Design Europe (MADE). 
Aiming to inspire innovation by blending digital tools with hands-on craftsmanship, MIDS will play a central role in shaping vehicles and experiences that are distinctly global, yet Indian. 
“It is a pleasure to have this new avatar of Mahindra India Design Studio commissioned. With state-of-the- art design spaces and machinery backed by world-class skills that hugely expands its capability and capacity, the footprint of the space stands doubled to take on and deliver the ever-expanding project portfolio across businesses. The end-to-end delivery on projects from the first concept sketch through to production stands further strengthened with the new working structure that along with the classic design verticals includes new functions such as HMI Design, Design Quality & Realisation,” explained Sharma. 
Pratap Bose, Chief Design and Creative Officer, Mahindra & Mahindra Ltd, averred, “We are thrilled to inaugurate our future ready Mahindra India Design Studio bringing world class design technologies and tools to create stunning, design outcomes across our Auto and Farm businesses. The new studio will attract the best design talent from India and become a leading automotive design centre in India. The influence of MIDS on our products will be felt for many years to come.” 

Honda Racing Corporation (HRC), the racing arm of Japanese automotive major Honda, has launched its new memorabilia business.

This will allow racing enthusiasts to collect a piece of Honda’s racing history, including signed merchandise, limited-edition collectibles and rare artifacts.

As part of the launch, Honda Racing Corporation has selected rare, limited items from the historical Honda RA100E F1 engine, which powered the championship machine driven by Ayrton Senna and Gerhard Berger in the 1990 F1 season. 

Racing fans will get a part own a piece of Honda’s RAE100E F1 engine at the Monterey Car Week in Monterey Peninsula, Ca. USA.

The automotive company shared that its skilled mechanics at Honda Racing Corporation’s factory in Japan have carefully RA100E F1 engine and fans can purchase items such as camshafts, cam covers, pistons and connecting rods, beautifully housed in ready to be displayed cases, each accompanied by an original HRC certificate for authenticity.

Koji Watanabe, President, Honda Racing Corporation, said, "We aim to make this a valuable business that allows fans who love F1, MotoGP, and various other races to share in the history of Honda's challenges in racing since the 1950s. Including our fans to own a part of Honda’s racing history is not intended to be a one-time endeavour, but rather a continuous business that we will nurture and grow."

Going forward, HRC is selecting heritage machines and parts from the IndyCar series to historical racing motorcycles for private sales and auctions too.

Travelling across highways and expressways has become more expensive in India. Effective from midnight of 31 March 2025, commuters have been shelling out INR 5-10 more on major highways and expressways.

However, commercial vehicles with more than seven axles have been the hardest hit, as their toll has risen by a whopping INR 590.

In sum total, the changed toll fee is part of a yearly exercise to revise rates as per Wholesale Price Index (WPI)-based inflation. On average, rates have gone up by 4-5 percent across the country. Some of the highways on which the toll hikes are visible include the Eastern Peripheral Expressway, Delhi-Jaipur Highway and Delhi-Meerut Expressway, among others. The toll rate from Ghaziabad to Meerut has risen from INR 70 to INR 75. The National Highway of India (NHAI) levies tolls across 855 plazas, out of which 675 are publicly funded and 180 are concessionaire-operated.

Jeeps and commercial cars are now being charged INR 85 per side, and the charges for their monthly passes have increased from INR 1225 to INR 1255. On the other hand, single-journey tolls for Light Motor Vehicles (LMVs) and minibuses on the Chhijarsi toll plaza on NH9 have increased from INR 275 to INR 580.