Maruti Gains Market Share In June Quarter; Tata Motors Overtakes Honda
The country's largest carmaker Maruti Suzuki India Ltd. tightened its grip on the domestic passenger vehicles segment by increasing its market share to 52.54 percent in the quarter ended June.
During the April-June period, Tata Motors Ltd. overtook Honda Cars India to become the fourth-largest player in terms of market share.
According to the latest data by Society of Indian Automobile Manufacturers, domestic passenger vehicle sales grew 19.91 percent to 8,73,501 units as against 7,28,483 units in the previous quarter.
Maruti Suzuki sold 4,58,967 units of passenger vehicles in the period as against 3,67,386 units in the year-ago period, a growth of 24.93 percent. Its market share rose to 52.54 percent in the quarter ended June, up from 50.43 percent in the year-ago period.
The company witnessed good demand for its models such as the new hatchback Swift, compact sedan Dzire, the sports utility vehicle Brezza and the premium hatchback Baleno.
Second-placed Hyundai Motor India sold 1,37,114 units during the period as against 1,24,327 units in the year-ago period — and increase of 10.28 percent. However, the company's market share fell to 15.69 percent in the quarter ended June from 17 percent in the year-ago period.
Mahindra & Mahindra Ltd. retained the third position in the segment registering sales of 60,539 units during April-June, as against 55,785 units in the same period a year ago, up 8.52 percent. The homegrown utility vehicles major also saw its market share dip to 6.93 percent from 7.65 percent in the comparable period last fiscal.
Tata Motors Ltd. registered the fastest sales growth in the quarter ended June at 48.5 percent, selling 58,969 units as against 39,708 units in the year-ago period. Its share in the passenger vehicle segment also increased to 6.75 percent up from 5.45 percent in April-June period last fiscal. It moved up to the fourth spot overtaking Honda Cars India Ltd.
During the first quarter, Honda Cars India Ltd. sold 42,609 units as against 38,562 units in the same period last fiscal, up 10.49 percent. The company's market share stood at 4.88 percent in the quarter ended June, down from 5.29 percent in the corresponding period last fiscal.