Maruti gains market share as passenger vehicle demand declines
Amid declining demand, India's largest carmaker, Maruti Suzuki India (MSI), has enhanced its market share in the April-July period this fiscal to over 40% in the passenger vehicle segment.
While rival Hyundai Motor India Ltd (HMIL) also managed to increase market share to 15.25%, homegrown majors Mahindra & Mahindra (M&M) and Tata Motors struggled during the period.
According to data from the Society of Indian Automobile Manufacturers (SIAM), MSI accounted for 3,20,491 of the 7,93,708 passenger vehicles sold in the domestic market in April-July. A year earlier, the company's market share was 38.96%, with 3,34,288 of the 8,57,977 units sold.
HMIL sold 1,21,080 units in the four-month period. In the year-ago period, the company had a market share of 14.58% with 1,25,115 units.
According to the SIAM data, M&M's market share during the period fell marginally to 10.82% at 85,924 units. In the corresponding period last fiscal, the company had a market share of 10.94% with 93,930 units.
Among the top manufacturers, Tata Motors has been the biggest loser, with its market share dropping to 8.9% at 70,736 units. The company had a share of 12.64% in the same period last fiscal with 1,08,517 units.
Total passenger vehicle sales in India dropped by 7.49% to 7,93,708 units in the April-July period from 8,57,977 units a year earlier.
On a monthly basis, MSI's market share jumped by over five percentage points to 40.34% in July compared with 34.96% in the same month last year. The company sold 75,145 units during the month in the domestic market out of the total of 1,86,239 vehicles.
Last year in July, MSI's total passenger vehicle sales were at 71,024 units, while the total industry numbers were at 2,03,119 units.
For HMIL, market share in July this year was at 13.94% with 25,965 units as compared with 13.58% with 27,585 units a year earlier.
M&M, on the other hand, saw its market share drop to 9.78% with 18,215 units in July from 12.29% with 24,978 units in July last year.
Likewise, Tata Motors also saw its market share decline to 9.6% with 18,054 units in July as compared to 16.19% market share with 32,730 units in the same month last year.