With a slowdown of the automotive industry, Maruti Suzuki has lost 4.73% of its market share to rivals Hyundai and Mahindra, dipping below 50% market share after a long time.
As sales in the automotive industry continue to slump, Maruti Suzuki has been considerably losing out on sales. Maruti reported a decline of 36.7% in year-on-year sales for the month of July. In the larger picture, Maruti Suzuki has also been losing out on their market share and Hyundai and Mahindra have been picking up those pieces.
Maruti Suzuki’s market share stands at 48.16%, as of July, 2019. Just last year, in July, Maruti had a market share of 52.89%. That’s a drop by 4.73% in just one year. Maruti Suzuki is India’s largest carmaker and their market share has been in the range of 52-53% for the past many years. However, this is the first time Maruti Suzuki is witnessing a market share below 50% after a long time.
What is lost by somebody is picked up by somebody else and that in this case has been Hyundai and Mahindra. Even for the month of June 2019, Maruti Suzuki lost a certain portion of its market share and it was picked up by Hyundai and Mahindra. As of July 2019, Hyundai’s market share stands at 19.47% when last year it was just 15.09%. Hyundai has picked up 4.39% of the market share in just one year.
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Even Mahindra who had a market share of 6.86% till July last year, now stands with 8.40% of the market, thus recording an increment of 1.54%. Note that even Hyundai and Mahindra have recorded a drop in year-on-year sales by 10.28% and 14.91% respectively but none has been as drastic as it has been for Maruti Suzuki.
Also Read : Maruti Suzuki Sales Report Depicts 35.1% Decline in Sales for July
As for some other players in the market, some of them have grown marginally while some fell by similar standards. Brands like Tata, Skoda, Renault and Nissan have all recorded minor fall in market share ranging from 0.3-0.6%. Honda on the other hand has lost out a considerable 1.81% of the market share. Meanwhile, brands like Toyota, Ford, MG Motors and Volkswagen have all picked up some shares in the range of 0.4-0.8%.
