India’s largest carmaker has lost as much as 2.6 per cent in its market share during the ongoing domestic industry slowdown.
Even though Maruti Suzuki continues to take the lead in the sales chart in the first several months of FY2019, the Indo-Japanese company has misplaced 2.6% of its market share in H1 2019, down from 52.8% in H1 of the fiscal year 2018-2019. Interestingly, this number is the exact the per cent of market share that Hyundai Motor India managed to gain in the same period.
Maruti Suzuki is losing out to Hyundai in its total market share during the current market slowndown.
Earlier, Hyundai captured a market share of 15.9 per cent during the first half of FY 18-19 which has gone up to 18.5 percent in the same period of FY 19-20. Not only achieved the highest market share among the automakers, Hyundai has also witnessed the smallest drop in terms of sales in recent months.
While various carmakers are facing sigfinicant drop in terms of sale, Hyundai managed to keep it lowest at 11 percent only.
The South Korean carmaker has been going aggressively in the competition with a range of new cars launched in India, including a highly-acclaimed Hyundai Venue or the all-new Hyundai Grand i10 Nios. With a surging demand, the new Venue even beats the Vitara Brezza – Maruti Suzuki’s great successor in the sales performance since its launch. Although Maruti Suzuki has made some responses, like the premium version of the Ertiga, the Maruti XL6 MPV or the recently-launched Maruti S-Presso. However, we know that the premium MPV segment is going quite slowly in terms of popularity while the buyers’ response to the new micro-SUV by Maruti is yet to be known.
By introducing new attractive models, Hyundai has succesfully gained as much as 2.6% market share in H1 2019.
It is also worth noting that Kia Motors, which is essentially Hyundai’s sister brand, has already started its innings in India with the introduction of the handsome-looking Kia Seltos. Since it’s launched, the all-new Seltos has taken the crown in the SUV segment for two consecutive months.
Nissan Motors has undergone the highest sales decline in the first half of the current fiscal year as compared to the same year-ago period. On the other hand, along with Hyundai, Mahindra also faced the lowest drop in terms of sales in the country and at the same time, increases its total market share by 1 percent thanks to the Mahindra XUV300 and Marazzo.