New Delhi: Passenger car leaders Maruti Suzuki India and Hyundai Motor noticed their market share dip in FY23 as in contrast with FY22 as they struggled with a scarcity of digital elements, in response to the auto sellers’ physique Federation of Automobile Dealers Associations (FADA).
Tata Motors, Mahindra & Mahindra and Kia India then again witnessed a rise in their market share based mostly on the retail gross sales final fiscal. As per the FADA, the retail gross sales of the nation’s largest carmaker Maruti Suzuki India rose to 14,79,221 models in 2022-23 fiscal, attaining a market share of 40.86 per cent.
Maruti Suzuki confronted a scarcity of digital elements
It had retailed 12,39,688 models in 2021-22 and grabbed a market share of 42.13 per cent. Earlier, the auto main had said that it confronted a scarcity of digital elements final fiscal with an order backlog of round 3.8 lakh models.
Similarly, Hyundai Motor India noticed a rise in retail gross sales at 5,25,088 models final fiscal, nevertheless, its market share dropped to 14.51 per cent. It had offered 4,79,027 models in the home market in FY22 and its market share was 16.28 per cent throughout the identical interval, as per the FADA information.
Tata Motors then again 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 in opposition to 3,31,637 models in the 2021-22 fiscal.
Mahindra & Mahindra information market share of 8.94%
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 models in FY22 to report a market share of 6.77 per cent, FADA stated.
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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 models final fiscal from 1,56,021 models in FY22.
Toyota Kirloskar Motor and Skoda Auto Volkswagen Group additionally noticed an increase in market share in FY23. FADA stated it gathered registration information of autos from 1,349 out of 1,435 RTOs throughout the nation.
