Hyundai, Kia combined beat Maruti Suzuki to dominate UV segment in April 2021
Hyundai and Kia as combined have beaten India's largest car manufacturer Maruti Suzuki to dominate the UV segment in the country in April 2021, which is the fastest growing car category of the Indian auto industry.
The UV segment in the country has witnessed rapid growth in the last couple of years, thanks to the influx of crossovers, compact SUVs, midsize SUVs and MPVS from various brands across both mass-segment and luxury segment as well.
In April 2021, while Maruti Suzuki sold 24,578 units of utility vehicles in the country, Hyundai and Kia sold 23,825 units and 16,111 units respectively. Cumulatively, the two South Korean auto majors that are part of the same automobile group have sold 39,936 units in the country market last month.
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Maruti Suzuki had the largest market share in the UV segment with a 21.54% stake, while Hyundai and Kia had 20.88% and 14.12% stake in the category, respectively. Combined, Hyundai and Kia have grabbed a 35% market share in the SUV segment of the country's auto market, which registered a total of 114,097 units of UVs in April 2021.
For Hyundai, the new generation Creta has been playing the role of the main revenue generator, while Kia Motors India has earned a positive response from the very beginning it stepped into the Indian market, with its Seltos model, the bestseller of the brand in the country. On the other hand, the Kia Sonet too has grabbed everyone's attention with its package of stylish and feature-packed appearance along with impressive performance.
Currently, in the UV segment of the Indian auto market, there are 13 manufacturers and in the last 18 months, the UV segment has been the fastest-growing space in the country.
With the emergence of renewed interest in personal mobility in the light of the Covid-19 pandemic induced situation that demands social distancing, better hygienic practices, sales of personal vehicles have witnessed a surge. While the sales have been increased across all the segments, the UV space has drawn the most attention from the buyers, despite the rising costs of fuel and increasing car prices as well.
Among the Indian homegrown automakers Mahindra & Mahindra, which is called the SUV expert of India, sold 18020 units last month, while Tata Motors registered 10,164 units. Mahindra & Mahindra had a market share of 15.79% last month in the UV segment, while tata Motors had 8.91% stake.