auto news desk, The market leaders in India’s automobile industry, Maruti and Hyundai, are beginning to crack under their feet. At the same time, apart from indigenous companies like Tata and Mahindra, Kia has started capturing the hearts and minds of the customers. In view of these changing trends of the customers, the mathematics of the country’s automobile sector has also started changing.
Maruti Hyundai shares fall
Maruti Suzuki’s retail sales are expected to grow to 14,79,221 units in FY 2022-23, according to the retail sales data from Federation of Automobile Dealers Association (FADA). Retail sales stood at 12,39,688 units in FY 2021-22. However, MSI’s market share declined from 42.13 percent to 40.86 percent during this period. Earlier, MSI had said that the shortage of electronic components led to an order backlog of around 3.8 lakh units in the financial year.
Tata Mahindra and Kia are becoming favorites
According to the data, the market share of Tata Motors increased from 11.27 per cent to 13.39 per cent. During this period, retail sales of its passenger vehicles also increased from 3,31,637 units to 4,84,843 units. Similarly, Mahindra & Mahindra sold 3,23,691 passenger vehicles in the last fiscal, FADA said. It sold 1,99,125 units in the financial year 2021-22.
Growth was also seen in these three companies.
Other automobile companies: Toyota Kirlaskar Motor and Skoda Auto Volkswagen Group have also increased their market share in FY 2022-23. FADA has collected registration data from 1,349 out of 1,434 RTOs (Regional Transport Offices) across the country.