Hyundai and Kia together, have over 45% market share in the SUV segment of Indian auto industry
In a reflection of evolving trends and changing customer preferences in the Indian auto industry, Hyundai and Kia have emerged as dominant players in the SUV space. Kia’s performance is even more praiseworthy, as it has emerged as the second largest SUV manufacturer in its second year of operation in the country.
With bestsellers like Creta and Venue, Hyundai has emerged as the largest SUV manufacturer in the country. The company sold a total of 1,80,237 units in 2020, commanding a market share of 25.49%. Overall, Hyundai is the country’s second largest carmaker, next to Maruti Suzuki. It has retained this position since several years and is working aggressively to further boost sales and market share.
At number two is Kia with 1,35,295 units sold in 2020. It had a market share of 19.13%. If we combine Hyundai and Kia sales, their combined market share crosses 45%. This is a significant achievement, especially considering the fact that the SUV space is among the most competitive in the Indian auto industry.
In addition to their gorgeous looks, both Hyundai and Kia have equipped their SUVs with a comprehensive list of hi-tech features. Products such as Seltos, Venue, and Creta were among the first in the industry to get internet connected smart features and voice commands. These have gained immense popularity among auto enthusiasts, prompting rival carmakers to introduce similar features in their respective product offerings.
Kia currently has three products in its India portfolio, Seltos, Sonet and Carnival. Sonet is Kia’s latest offering, which was launched last year in September. With its sporty profile and long list of segment-first and best-in-class features, Sonet had quickly emerged as a bestseller.
Mahindra is at third place with sales of 1,30,474 units in 2020. The company’s market share is 18.45%. Not very long ago, Mahindra used to dominate the SUV space with more than 50% market share. Things could improve for Mahindra in the future, as its Thar SUV has witnessed spectacular success. Next-gen XUV500 is also scheduled for launch this year, which could further boost the company’s sales numbers.
Maruti lacking diesel power?
At number four is Maruti Suzuki with 98,939 units sold in 2020. Market share stands at 13.99%. Maruti’s primary volume generator is Brezza, which has been witnessing increased competition from the likes of Venue, Sonet and Nissan Magnite. Not having diesel option could be another factor that has been pulling down Brezza sales in recent times.
Tata Motors takes the fifth spot with 63,110 units sold in 2020. The company’s market share is 8.92%. Tata offers Nexon and Harrier, with the former being the primary volume generator. Tata SUV sales could get a boost this year, as next-gen Safari is scheduled for launch soon.
Other carmakers in the list include Ford (32,665 units), MG Motor (28,162), Toyota (16,804), Honda (6,792), Fiat (5,226), Renault (3,685), Nissan (2,377), Volkswagen (1,959), and Skoda (1,423). This list could witness some significant changes next year, as many of these carmakers have planned new product launches in 2021.