March traditionally is a good month for the Auto Industry and it did experience a growth of over 5%! Renault, Ford & Mahindra stood as the biggest gainers of March and again fueled by the stellar new product performance. Kwid, Aspire & KUV100 proved to be the saviors for the respective OEMs and helped them gain a double digit growth in the tough business environment. Amongst the luxury car makers, Volvo stood out in the crowd with a respectable YoY growth. The Swedish car maker launched the S60 Cross Country last month and currently has 7 models in its portfolio (S60 sedan, S80 saloon, V40 luxury hatchback, V40 Cross Country, XC60 SUV and XC90—the 6 seater SUV). We are sure that the surge in business shall encourage the Swedish OEM to assemble cars in India (Unlike other luxury car firms Volvo doesn’t assemble any model locally. All of them are fully imported.). In luxury segment, Mercedes again led the pack with the highest volume in luxury cars segment. Mar’16 also saw the launch of Mercedes Benz S100 from the German Luxury car maker.
March 2016 also witnessed the end of the financial year – hence a lot of these OEMs would have tried to rationalize their target achievement and would’ve pushed for more volumes. We also present the entire Financial Year performance of these OEM’s here –
- Renault drove to the top backed by Kwid’s success and delivers a >65% growth in FY16! The French Automaker is now trying hard to gain volumes in the higher margin maker Duster for sustainability.
- Porsche though with low volumes, makes itself visible in the growth department – the luxury SUV models (particularly Cayenne) has helped it significantly.
- Hyundai & Maruti emerge as the only 2 Carmakers to have a double-digit Market Share in India! Both of them combined command a Market Share of envious 64%. While other OEMs have put everything to gain a piece of Indian Market, these 2 OEMs are holding their fort pretty well and are giving a tough fight to the bigger OEMs.
- Maruti has reached its ever highest Market Share in past 10 years and the Nexa strategy has paid it off quite well! The Indo-Japanese car maker don’t stop surprising us with the tricks they got to offer for the Indian Market – the latest addition being the compact-SUV Brezza which will shoot their hold of Market Share in the coming months.
- It was a comeback year for the homegrown SUV-major Mahindra. The Indian MNC dethroned Honda from the third spot with a good margin. Mahindra’s product-offensive strategy (launch of TUV300, KUV100)worked wonders for the company and the volume jump helped it strengthen its slot in the third place!
A look at the Top 10 sellers of March 2016 (detailed model-wise data to be posted shortly) –