Passenger Vehicle Segment Check: Strong Recovery In A Difficult Year Led By UVs: Motilal Oswal
Swift vehicles bound for shipment are parked in a lot. (Photographer: Tomohiro Ohsumi/Bloomberg)

Passenger Vehicle Segment Check: Strong Recovery In A Difficult Year Led By UVs: Motilal Oswal

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

We analyzed the brand-wise data for the domestic passenger vehicle industry to understand segmental trends and market share changes.

Despite the Covid-19 pandemic, domestic PV wholesales declined by just 2.2% in FY21 (versus a fall of ~18% in FY20), led by preferences for personal mobility and pent-up demand.

Several launches from competition and lack of new launches from Maruti Suzuki India Ltd. led to a ~340 basis point decline in its domestic PV market share to 47.7%.

While Hyundai maintained its market share at 17.4%, Mahindra & Mahindra Ltd. lost 90bp (to 5.8%), whereas Tata Motors Ltd. (up 330bp to 8.3%) and Kia (up 260bp to 5.7%) gained market share.

Click on the attachment to read the full report:

Motilal Oswal Auto Sector Update.pdf

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