The condition of India's largest car company Maruti Suzuki India and the second largest car company Hyundai Motors India is bad. These companies have started facing challenge in the market from new companies like BYD and Citroen. Companies like Mahindra and Tata have made tremendous progress in the market. The situation in the passenger vehicle market is such that records that have been going on for 12 years are being broken.
The sales of Maruti Suzuki India and Hyundai Motors India in the passenger vehicle category are continuously declining. Due to this their market share has also reduced. Whereas at one time these were the most dominant brands in the market.
If we look at the data of the first half (April-September) of the current financial year 2024-25, in terms of market share, Maruti and Hyundai have fallen to the lowest level in the last 12 years. This points towards the changing demand and choice of customers in the passenger vehicle market.
According to a report by research firm Jefferies, while the market share of Maruti and Hyundai has decreased in the first half, the market share of Mahindra, Toyota and Tata has increased. Not only this, the market share of Mahindra & Mahindra and Toyota has reached its all-time high.
If we look at the market share, Mahindra had 12.5 percent market share in the first half. This is his best performance till date. At the same time, Tata Motors has shown tremendous progress. The market share of Tata Motors has been 13.3 percent. However, this is slightly less than 14 percent of 2022-23, which was its 11-year record high.
However, the report also mentions how the export of cars from the country is decreasing, which has become a big challenge for the country's passenger vehicle industry.
