Maruti Suzuki India’s market share has come all the way down to an eight-year low, at 43.65 per cent, in Financial Year 2021-22. At the identical time rival Tata Motors has reported an increase in market share, which stands at 12.14 per cent, its highest ever within the final thirtyteen years.
View PhotosPreviously, Maruti Suzuki had all the time maintained a market share of over 50 per cent in India
In the previous couple of years, the Indian auto sector had gone by means of some paradigm-shifting modifications. First, it was the slowdown in auto gross sales, adopted by the transition from BS4 to BS6 emission norms, after which got here COVID-19. These modifications haven’t solely had an affect on buyer calls for however have additionally affected the standings of India’s prime automakers. In this regard, India’s largest automaker by quantity, Maruti Suzuki India’s market share has come all the way down to an eight-year low, at 43.65 per cent, in Financial Year 2021-22, with complete gross sales of over 13,31,558 items. The final time the corporate’s market share was this low, was in FY 2013-14 when it fell to 42 per cent.
Tata Motors has reported an increase in market share, which proper now stands at 12.14 per cent, at 3,70,372 items, its highest ever within the final thirtyteen years
What’s fascinating is that, for a similar FY 2022 interval, rival Tata Motors has reported an increase in market share, which proper now stands at 12.14 per cent, at 3,70,372 items, its highest ever within the final thirtyteen years. This makes Tata Motors the third-largest carmaker in India, proper behind Hyundai, which too noticed a drop in market share and now stands at 15.78 per cent for FY 2022, with complete gross sales of 4,81,500 items. While Maruti Suzuki continues to guide the market even at present, beforehand, the carmaker had all the time maintained a market share of round 50 per cent. In reality, through the pre-COVID fiscal years of FY 2020 and FY 2019, Maruti Suzuki held a market share of 51 per cent and 51.22 per cent, respectively. However, through the peak of COVID, in FY 2021, it fell to 47.72 per cent.
Also Read: Auto Sales March 2022: Maruti Suzuki Reports 2% Rise In YoY Sales, Saw 13% Growth For FY2022
While Maruti Suzuki continues to guide the market even at present, beforehand, the carmaker had all the time maintained a market share of round 50 per cent
In addition to COVID, one main facet that has modified, in comparison with then and now, is the elimination of diesel engines from the corporate’s portfolio. Maruti Suzuki stopped producing diesel automobiles in India in April 2020 following the transition to the extra stringent BS6 emission norms. And the corporate claims that this is likely one of the key causes for this drop in market share. Diesel automobiles proceed to command 20 per cent demand available in the market. Speaking with ET Auto, Shashank Srivastava, Senior Executive Director – Marketing & Sales, Maruti Suzuki India stated, “One third of the competition sales are diesel. We have made up for this loss somewhat by increased CNG sales which is now 9 per cent of the industry.”
Also Read: New Vehicle Retails Drop 25% During FY2022 Compared To Pre-COVID Sales In FY2020
Another facet that has led to the autumn of Maruti’s market share is the growing demand for SUVs. Right now, the one SUV within the firm’s portfolio is the Vitara Brezza, whereas rivals like Tata Motors, Hyundai, Kia, and Mahindra are commanding the SUV section with a number of merchandise. However, Maruti is upping its recreation within the utility automobile area, and over the following few years, we shall be seeing extra fashions from the Indo-Japanese carmaker on this area, which incorporates the Creta-rivalling compact SUV, which is underneath improvement in partnership with Toyota.
Also Read: Auto Sales March 2022: Tata’s Passenger Vehicle Sales Grow 43 Per Cent At 42,293 Units,
Mahindra is presently on the fourth spot, adopted by Kia India and Toyota within the fifth and sixth positions
As for different producers, Mahindra & Mahindra is presently on the fourth spot with a market share of seven.4 per cent, a ten per cent development in comparison with FY 2020. Kia Motors is within the fifth spot with a market share of 6.12 per cent, whereas Toyota is correct behind with 4.06 per cent within the sixth place. Renault India and Honda Cars India, are within the seventh and eighth spot with market shares of two.87 per cent and a pair of.81 per cent, respectively, whereas Skoda Auto Volkswagen India is within the ninth place with an elevated market share of two.16 per cent. MG Motor India takes the tenth spot with a market share of 1.32 per cent, adopted by Nissan within the eleventh place with 1.24 per market share. Other OEMs make up the remained 0.46 per cent market share.
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Source: ET Auto
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With inputs from NDTV
