In terms of share in the Indian car market, Maruti Suzuki still remains at number one, but in recent times the market share of this company has come down to less than 40 percent.
Indian Car Market : The picture of the Indian car market is now seen to be changing rapidly. While on one hand the government is promoting electric vehicles, on the other hand the choice of customers is also changing day by day. Let us tell you that the famous Indian customers for small cars are now preferring to buy SUV cars the most. The impact of all these factors is clearly visible on the Indian car market. While Indian car companies like Tata Motors and Mahindra & Mahindra are benefiting the most, the market share of foreign car companies is steadily decreasing.
Let us tell you that Maruti Suzuki still remains at number one in terms of share in the Indian car market, but in recent times the market share of this company has reduced rapidly. This company once ruled the Indian car market and sold more than half the cars alone. At the same time, the situation is that the market share of Maruti Suzuki has come down to less than 40 percent. Which is a decline of 8 percent in the Indian car market share of Maruti Suzuki during the last three years.
Increasing demand for Tata cars
Tata Motors has benefited the most from this change coming in the Indian car market. In view of the increasing demand for SUVs, Tata Motors launched models like Nexon, Harrier and Punch. Indian customers liked the Nexon very much. Its electric avatar Nexon EV is the best selling electric car in the Indian market. On the other hand, Tata’s punch is being liked by the customers who want to enjoy the SUV in a low budget. Tata Motors has also led a significant change in terms of safety. In the Indian market indifferent to safety ratings, Tata has launched five-star safety rating cars one after the other. Which is being demanded the most in the market.
Tough challenge for foreign companies
In the Indian car market, domestic companies like Tata Motors and Mahindra & Mahindra have got this success at a time when the overall car market is showing weakness. Maruti Suzuki occupied 50% of the market till 2019-20, but now its market share has come down to below 40%. The biggest reason for this is that Maruti has a very small share in the SUV segment. Along with this, the market share of Maruti Suzuki has also decreased due to the discontinuation of diesel cars. Apart from Hyundai and Maruti Suzuki, other foreign car companies like Toyota, Honda and Volkswagen are also facing tough challenges due to this success of Mahindra & Mahindra and Tata Motors.
Source: www.tv9hindi.com”