Maruti Suzuki, that had commanded a market share of nearly 50 percent in October 2020, reported a dip in demand and lower market share in October 2021
The pandemic that struck in early 2020 has had a devastating effect across every sector. Speaking particularly of the automobile segment, every major automaker in India, with the exception of Mahindra, has reported lower demand, relating to a decrease in market share.
The festive season that started off with Dusshera in mid-October also failed to stir up demand. Shortage of electronic components also continued to affect production of vehicles making it difficult for sales to reach pre-pandemic levels.
Car Market Share Oct 2021 – Maruti Continues its Dominance
Maruti Suzuki topped the charts in terms of market share despite reporting YoY de-growth. Market share, which had stood at 49 percent in October 2020 dipped 7.11 percent to 41.89 percent in October 2021. However, the company saw a 7.95 percent revival in terms of MoM market share which had dipped to 33.95 percent in September 2021. Maruti Suzuki has also not launched any new product in the market. Its last launch was the new gen Celerio, launched two years ago.
Hyundai also reported a dip in market share both in terms of YoY and MoM. Market share of the company, which had stood at 16.95 percent in October 2020, dipped2.72 percent to 14.23 percent in October 2021. Market share had been at 17.80 percent in September 2021 relating to a 3.57 percent de-growth.
Tata Motors Market Share
With a higher share in the sports utility vehicle segment, Tata Motors, the maker of Harrier and Nexon has seen a significant increase in market share on a YoY basis. What stood at 7.07 percent in October 2020 increased 5.97 percent to 13.04 percent in October 2021. MoM market share however, dipped marginally by 0.80 percent from 13.84 percent held in September 2021.
Mahindra was the only automaker to report an increase in market share both in terms of YoY and MoM basis. Market share which had stood at 5.58 percent in October 2020 increased 2.16 percent to 7.74 percent in the past month. It was also a 0.67 percent MoM increase over 7.6 percent held in September 2021. The company has received immense response for the new XUV700.
At No. 5 was Kia India with a market share of 6.28 percent in October 2021, down 0.02 percent over 6.29 percent held in October 2020. It was however, 1.49 percent lower when compared to 7.77 percent market share held in September 2021. Kia Motors now gears up for the launch of a new 7-seater utility vehicle. The company has registered the name ‘Carens’ and this will directly compete with Maruti Suzuki Ertiga and XL6, which currently command highest market share in MPV segment.
Toyota has reported a 1.08 percent increase in market share YoY to 4.78 percent in October 2021 over 3.70 percent held in October 2020. MoM share dipped marginally from 4.99 percent held in September 2021.
Thereafter, even as Renault, Nissan, Volkswagen and Skoda reported an increase in market share on a YoY basis, MoM market shares dipped marginally. Honda’s market share dipped both in terms of YoY and MoM as did MG Motors. Jeep and Citroen saw market share increased in a YoY basis but dip MoM.