Maruti Suzuki, Hyundai and Tata Motors commanded a total 68 percent share in March 2022
Top 4 players Maruti Suzuki, Hyundai, Tata Motors and Mahindra commanded over 70 percent of market share in March 2022. Out of these automakers, Maruti and Hyundai saw its market share dip on a YoY and MoM basis while Tata and Mahindra reported a YoY increase.
Car Market Share March 2022 – Maruti Market Share Below 42%
Maruti Suzuki topped the list with a 41.63 percent market share in March 2022. This was a 3.98 percent YoY de-growth over 45.61 percent held in March 2021 and also a 2.60 percent dip over a 44.23 percent market share held in February 2022.
Maruti Suzuki lags behind as the country’s SUV market booms. This segment is dominated by rivals such as Hyundai, Tata, Kia and Mahindra. Maruti Suzuki plans to enter the compact SUV segment before the end of the current financial year. The company will launch a lifestyle SUV along with a new SUV coupe so as to boost sales in this segment.
Hyundai India came in at No 2 with a market share of 13.87 percent, down from 16.41 percent held in March 2021. This was a de-growth of 0.67 percent over 14.54 percent held in February 2022. Hyundai Motor India (HMIL) has also reported a decline in domestic passenger vehicles sales in March 2022 while exports also dipped. In a bid to boost sales the company will soon come up with 7 new cars set for launch by 2024. Facelifts of Creta and Venue along with the new gen Tucson are poised for launch in 2022.
Market Share Gain for Tata, Mahindra, Kia and Toyota
Tata Motors saw market share increase by 3.90 percent to 13.15 percent in the past month. This was against a 9.25 percent share held in March 2021 while MoM market share dipped marginally by 0.05 percent over 13.20 percent commanded in February 2022.
Market share also increased for Mahindra which stood at 8.58 percent in March 2022 as against 5.21 percent held in March 2021. Its MoM market share however, dipped 0.55 percent from 9.13 percent held in February 2022. Thanks to the new Thar and XUV700, the company sales increased 65 percent last month to 27,380 units. The new Thar and XUV700 currently command a waiting period of over 1 year while in a bid to improve sales, the company plans to launch 5 new SUVs in the country by 2022-23.
Kia India market share was at 7.04 percent last month, up 1.08 percent over 5.96 percent held in March 2021 and up 1.05 percent from 5.98 percent held in February 2022. The company has seen outstanding demand for the new Carens recently launched in India while Kia also reported its highest ever monthly sales which stood at 26,622 units in the past month.
Market Share – Toyota, Renault, Honda, Skoda
Toyota also reported a 0.65 percent gain in market share to 5.33 percent in the past month, up from 4.68 percent held in March 20221 while on a MoM basis market share increased by 2.44 percent over 2.89 percent in February 2022. Even as the Kwid, Triber and Kiger remained best sellers for Renault in India, its market share dipped 1.21 percent to 2.65 percent in March 2022 from 3.85 percent held in March 2021. MoM saw a 0.48 percent improvement in market share over 2.17 percent held in February 2021.
Honda’s market share dipped to 2.05 percent while Skoda held on to a 1.74 percent share noting a 1.38 percent YoY increase long with a 0.26 percent MoM growth. MG Motor and Volkswagen featured lower down on the list with market shares of 1.47 percent and 1.14 percent respectively while Nissan (0.94 percent), Jeep (0.40 percent) and Citroen (0.02 percent) completed this list.