FADA Reports Market Share Downturn for Maruti and Hyundai in India

FADA reports Maruti and Hyundai experienced a dip in market share for FY 23 due to electronic component shortages.

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According to the Federation of Automobile Dealers Associations (FADA), Mahindra & Mahindra had an impressive performance in the passenger vehicle segment last fiscal, selling 3,23,691 units and gaining a market share of 8.94 per cent. This is a significant increase from the previous year, where the company had sold 1,99,125 units and held a market share of 6.77 per cent.

In contrast, Maruti Suzuki India and Hyundai Motor saw a decline in their market share in FY 23 due to a shortage of electronic components. Despite this, Maruti Suzuki India remained the country's largest carmaker, retailing 14,79,221 units in the 2022-23 fiscal year and achieving a market share of 40.86 per cent. However, this is a decrease from the previous year, where it had sold 12,39,688 units and held a market share of 42.13 per cent.

On the other hand, Tata Motors, Mahindra & Mahindra, and Kia India experienced an increase in their market share based on retail sales last fiscal. Mahindra & Mahindra's success can be attributed to its strong sales figures and the popularity of its passenger vehicle models. 

Despite the challenging market conditions, the company was able to maintain its position as a key player in the Indian passenger vehicle market.

As per the latest data released by the Federation of Automobile Dealers Associations (FADA), the Indian automobile industry witnessed a significant shift in market share among major players in the passenger vehicle segment. While some automakers struggled with a shortage of electronic components, others were able to capitalize on the changing market dynamics.

Mahindra & Mahindra, for instance, sold an impressive 3,23,691 passenger vehicles last fiscal year, translating to a market share of 8.94 per cent. This marks a significant increase from the previous year, where the company had retailed 1,99,125 units and held a market share of 6.77 per cent. 

This success can be attributed to the company's ability to overcome challenges such as the shortage of electronic components and its strong sales figures.

Hyundai Motor India, on the other hand, faced a similar shortage of electronic components but was still able to increase its retail sales to 5,25,088 units last fiscal year. However, the company's market share dropped to 14.51 per cent from 16.28 per cent in FY 22, indicating a challenging market environment.

Meanwhile, Tata Motors saw its market share rise to 13.39 per cent in FY 23 from 11.27 per cent in the previous fiscal year. The company retailed 4,84,843 passenger vehicles last fiscal year, a significant increase from the 3,31,637 units it had sold in the previous fiscal year.

Kia India, a subsidiary of the South Korean automaker, has managed to increase its market share in the Indian passenger vehicle market, according to the latest data released by the Federation of Automobile Dealers Associations (FADA). 

The company's market share rose to 6.42 per cent in FY 23 from 5.3 per cent in the previous fiscal year. This can be attributed to the company's robust retail sales figures, which rose to 2,32,570 units last fiscal year from 1,56,021 units in the previous fiscal year.

Toyota Kirloskar Motor and Skoda Auto Volkswagen Group also saw a significant rise in their market share in FY 23. This indicates that these automakers were able to navigate the challenging market environment and capitalize on the changing trends in the Indian passenger vehicle market.

FADA, which gathered registration data of vehicles from 1,349 out of 1,435 RTOs across the country, has provided valuable insights into the Indian automobile industry's shifting dynamics. 

The data suggests that some automakers were able to leverage the market opportunities and overcome challenges such as the shortage of electronic components, while others faced significant challenges that impacted their market share.

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