Hyundai leads in marketshare growth
Helped by the success of its latest hatch i10, Korean auto major Hyundai Motors has nudged Tata Motors behind in the passenger vehicle segment emerging as the second largest passenger vehicle manufacturer for the first time in the country. Due to a bad start on the sales front in the current fiscal, almost all major car makers including market leader Maruti Suzuki India Ltd (MSIL), Tata Motors, Honda Siel, General Motors, Ford and Toyota have lost marketshares in the first quarter.
According to an analysis done by Society of Indian Automobile Manufacturers (SIAM) based on the sales figures for April-June period, Maruti continues to be the number one player in the passenger vehicle segment but has seen its marketshare slip from 46.03 per cent during the same period last year to 44.86 per cent this year.
Homegrown Tata Motors also saw its share dip slightly from 14.89 to 14.41 per cent enabling Hyundai to nudge past it for the number two spot increasing its share from 13.96 to 16.91 per cent. Toyota, Ford, Honda Siel and General Motors also witnessed decline in their market shares in varying proportions. One year old, Mahindra Renault which produces the mid size Logan has been able to snare 1.14 per cent of the market.
“We have been hampered by the delay in launching the new line of Indica and Indigo and that may have contributed towards the decline in marketshare. The new Indica will be launched shortly and we will be back to where we belong,” a senior Tata Motors official said.
M&M, Hindustan Motors, Fiat, Skoda, Mercedes Benz and BMW were some of the other companies who saw their shares go up marginally during the quarter.
Compared to the market share for fiscal 2007-08, the story remains more or less the same except for Hyundai and General Motors. While the former had a marginal dip in its share during the fiscal to 13.99 per cent, it has performed well in the first quarter this year, indicating that i10 which was launched in late October last year has helped revive the company's fortunes. GM on the other hand had gained marketshare in 2007-08 (4.30 per cent) to be at the number 5 spot, but this year(Q1) its share has slipped to below 4 per cent again.
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- Because of the November fall, the economy is set to contract again in the fourth quarter.