Even though the company’s sales rose by 8.27 percent, Maruti Suzuki’s MS shrunk from 52.10 percent to 46.91 percent YoY in February 2021
Passenger vehicle sales in India have seen fair bits of ups and downs and in the past year. After the closure of businesses in the aftermath of the Covid-19 pandemic, automotive sales were heavily impacted. It took months for the industry to get back on its feet and normalise to a certain extent.
Now, the automotive sector has somewhat stabilized with rising demands although the industry faces many challenges going ahead. Although demand has been revived, restoration of supply chain is a major concern for many OEMs leading to large impending orders, especially in the passenger vehicle segment.
Maruti Suzuki Maintains Lead
Meanwhile, retailing a total of 1,44,761 cars in February 2021, Maruti Suzuki achieved a 46.91 percent market share much ahead of its nearest rivals. However, it witnessed a decline in market share (MS) by 5.19 percent in YoY sales. It witnessed MoM growth in MS by 1.17 percent. India’s largest carmaker had an MS of 52.10 percent and 45.74 percent in February 2020 and January 2021 respectively.
Hyundai, Tata, Kia Show Strength
Maruti was trailed by Hyundai which sold 51,600 units last month taking its market share to 16.72 percent. Last year, during the same month, MS of the South Korean auto giant was 7.96 percent and in January 2021 it was 17.11. Therefore, it witnessed a decline in MS by 1.24 percent and 0.39 percent.
Tata Motors has been the biggest benefactor as its MS grew by almost 4 percent YoY. The homegrown manufacturer sold 27,225 cars this February thereby recording an MS of 8.82 percent. MS for Tata Motors in February 2020 and January 2021 stood at 4.84 percent and 8.88 percent respectively.
The fourth spot was taken by Hyundai’s sister brand Kia with an MS share of 5.41 percent. The Korean automaker witnessed a decline in its MS both in terms of YoY and MoM by 0.68 percent and 0.86 percent respectively.
Kia was followed by Mahindra at the fifth spot with an MS of almost 4 percent. It also registered a growth in YoY MS by 0.73 percent and a decline in MoM MS by 1.76 percent.
Others share the spoils
Toyota witnessed an MS of 4.56 last month which resulted in a YoY and MoM growth in MS by 0.53 percent and 0.90 percent. French automaker Renault took the seventh spot with an MS of 3.58 percent against last year February MS of 3.42 percent and January 2021 MS of 2.70 percent. Thus recording YoY and MoM growth in MS by 0.16 percent and 0.88 percent. It was followed by Honda which registered an MS of 3.02 percent last month. The Japanese auto giant witnessed a YoY growth of MS by 0.19 percent and an MoM decline in MS by 0.70 percent.
Rest of the OEMS which constituted the market share in India included Ford (1.87 percent), MG Motor (1.40 percent), Nissan (1.38 percent), Volkswagen (0.71 percent), Jeep (0.36 percent) and Skoda (0.28 percent). Out of these, Ford witnesses the highest YoY growth in MS by 0.51 percent, while MG, Nissan and VW recorded MoM growth in MS by 0.87 percent, 0.97 percent and 0.57 percent.