Tata Motors sold half a million vehicles in 2022; Hyundai closing in

The business has increased its market share to 14% during the past two years.

Along with Tata, Hyundai will also increase its sales volume in 2023

Highlights

• SUVs account for more than two thirds of Tata's sales

• Tata is the biggest SUV manufacturer in the nation.

Tata Motors, the largest vehicle business in India

In the first two weeks of December, Tata Motors, the largest vehicle business in India in terms of revenue, reached the milestone of 500,000 sales. The automaker anticipates selling 5.25 lakh passenger vehicles by the end of the calendar year, up 59 percent from the 3.31 lakh it did in 2021. Since the brand's establishment in 1998, this milestone has become the largest sales total ever seen in a single year.

Tata's SUV lineup is propelling the business forward

Due to its extensive lineup of SUV models, the business will surpass Hyundai in 2022 as the largest SUV producer in the nation. As a result, Hyundai now trails the South Korean automaker by just 30,000 to 40,000 units annually in the race for second place in the passenger car market.

In the first 11 months of this year, Tata Motors has already sold more than 3.25 lakh SUVs whereas Hyundai has only sold slightly less than 3 lakh. Tata has been able to reach a wider consumer base and achieve growth that doubles the market's pace.This became possible due to Its extensive SUV lineup, which starts with the Punch at Rs 6 lakh and goes up to the Safari at the top end of the market.Even though Tata provides hatchbacks and sedans with electric and CNG powertrains that offer a slight volume rise in the non-SUV segment, over two thirds of the company's total sales currently come from SUVs. The Tata Nexon and Punch are among the few non-Maruti models that have regularly been in the top 10 vehicles sold in India this year, which is an interesting fact.

With an output of 1 million units, the company is on track to join the top 20 light vehicle producers worldwide, according to our sister journal Autocar Professional.The market for light vehicles consists of vans up to 5 tonnes, small commercial vehicles, and passenger cars. Tata Motors and Jaguar Land Rover are included in the 1 million light vehicle production output, which has been attained for the first time since 2018. Tata Motors' response to an email is still pending.

Hyundai and Tata tied in a close battle

In 2023, Hyundai will increase its sales volumes with the help of the new Verna and an entry-level SUV built on the Grand i10 platform. Tata Motors, on the other hand, will rely on the redesigns of its current models as well as the addition of EV and CNG powertrains on popular nameplates like the Punch and Altroz to increase volumes.Tata Motors has seen its market share rise to 14 percent over the past two years, while Hyundai has seen its share decline by a few hundred basis points to 14.5 to 15 percent of the overall market.

Tata Motors has thus far prevailed in a crucial SUV competition, but the South Korean Chaebol and India's largest automaker by revenue will engage in a fierce neck-and-neck contest in 2023.

CarBike360 always keeps you up to date on the latest updates, news, reviews, new innovations, sales reports, and all things automobile. So, if you're looking for a platform where you can get relevant information about vehicles, this is the place to be. Stay tuned for new updates.