Maruti, Tata Motors, Renault Gain Passenger Vehicle Market Share In April-February
Domestic passenger vehicles segment grew by 9.16% in April-February: SIAM
Maruti Suzuki India Ltd., Tata Motors Ltd. and Renault SA are the only automakers among the top seven players in the Indian passenger vehicles segment to have gained market share in 11 months of the current financial year.
Hyundai Motor India Ltd., Mahindra & Mahindra Ltd., Honda Cars IndiaLtd. and Toyota Kirloskar Motor Pvt. Ltd., all have witnessed fall in market share during the period.
According to the latest data from Society of Indian Automobile Manufacturers (SIAM), the domestic passenger vehicles segment (PV) grew by 9.16 percent to 27,64,206 units in April-February as against 25,32,288 units in the year-ago period.
Market leader Maruti Suzuki increased its share to 47.6 percent, selling 13,15,946 units during the period. It had a market share of 46.85 percent with 11,86,456 units in the same period last fiscal.
The number two player, Hyundai Motors saw its market share drop to 16.82 percent with 4,64,948 units in the ongoing fiscal. It had a market share of 17.49 percent in the year-ago period, having sold 4,43,123 units.
Homegrown Mahindra & Mahindra sold 2,10,776 units in the April-February period of 2016-17, a market share of 7.62 percent, lower than 8.27 percent a year ago when it sold 2,09,422 units.
As per SIAM data, Tata Motors increased its market share marginally to 5.6 percent during the period under review selling 1,55,411 units. Its market share in the same period last fiscal was 5.45 percent and it sold 1,38,152 units.
Honda Cars also witnessed a marginal decline in market share to 5 percent, selling 1,38,363 units. Its market share in the year-ago period was 6.89 percent with 1,74,630 units sold.
Toyota Kirloskar saw a marginal decline in market share 4.68 percent with 1,29,568 units in the April-February period this fiscal. The company's market share was at 4.77 percent in the corresponding period last fiscal with 1,20,857 units.
The biggest gainer is Renault India, which has more than doubled its market share to 4.44 percent riding on its Kwid entry level hatchback. It sold 1,22,935 units in the period.
The company had a market share of 2.34 percent in the same period last fiscal selling 59,308 units.