Maruti, Hyundai share in retail sale market declined final fiscal: This is why

Market share of Maruti Suzuki India and Hyundai Motor declined in FY23 as in contrast with FY22 because the duo struggled with scarcity of digital parts, FADA says.

As per the Federation of Vehicle Sellers Associations (FADA), Tata Motors, Mahindra & Mahindra and Kia India witnessed a rise of their market share primarily based on the retail gross sales final fiscal.

In keeping with the car sellers’ physique, the retail gross sales of Maruti Suzuki India rose to 14,79,221 items in 2022-23 fiscal. The nation’s largest automotive maker had a market share of 40.86 per cent. Whereas in 2021-22, it had retailed 12,39,688 items in 2021-22 and grabbed a market share of 42.13 per cent.

Earlier, the auto main had said that it confronted scarcity of digital parts final fiscal with an order backlog of round 3.8 lakh items.

Equally, Hyundai Motor India additionally noticed a rise in retail gross sales at 5,25,088 items final fiscal. However its market share dropped to 14.51 per cent. The auto producer offered 4,79,027 items within the home market in FY22 and had a market share of 16.28 per cent, as per the FADA information.

Tata Motors alternatively noticed its market share rise to 13.39 per cent in FY23 from 11.27 per cent in 2021-22 fiscal.

It retailed 4,84,843 passenger autos final fiscal as towards 3,31,637 items in 2021-22 fiscal.

Mahindra & Mahindra offered 3,23,691 passenger autos final fiscal to log in a market share of 8.94 per cent. It had retailed 1,99,125 items in FY22 to file a market share of 6.77 per cent, FADA mentioned.

Kia India additionally witnessed an increase in market share at 6.42 per cent in FY23 from 5.3 per cent in 2021-22.

Its retail gross sales rose to 2,32,570 items final fiscal from 1,56,021 items in FY22.

Toyota Kirloskar Motor and Skoda Auto Volkswagen Group additionally noticed an increase in market share in FY23.

FADA mentioned it gathered registration information of autos from 1,349 out of 1,435 RTOs throughout the nation.

(With inputs from PTI)

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