~33.5 Lakh Passenger Vehicles were sold in India during the year 2018! The Industry could project a growth of little over 5% in 2018 when compared to 2017. While we anticipated that 2018 shall be they year where the industry could grow double digit owing to multiple new launches and also due to the Auto Expo euphoria. However Weakening Rupee, Volatile Stock Market, Increasing Fuel Prices & Rising Interest Rates played spoilsport in the growth story and the Industry struggled to register even 5.2% growth.
Let’s see how the OEMs fared in 2018 –
- Tata registered the highest YoY growth; witnessed an improvement of 26.3% in sales volumes. Riding on the consistent performance of Tiago and Nexon, Tata sold almost 2.2 lakh passenger vehicles last year.
- Ford and Toyota were the next two OEMs which could register positive growth, witnessed growths of 11.7% and 8.5% respectively.
- The Nation’s Biggest Car maker sold >17.3 Lakh cars and grew by 8% in 2018 v/s 2017.
- As a matter of fact; 6 out of Top 7 OEMs saw a positive YoY growth barring Honda which registered a degrowth of -2.4%. Even with the big ticket launch of Amaze; Honda wasn’t able to match 2017’s volumes in 2018.
How the Market Shares fluctuated in 2018 v/s 2017 –
- Maruti strengthened its market share even further in 2018 to 51.7% v/s 50.4% Market Share in 2017. Maruti+Hyundai now captures 68.1% of the overall market!
- Renault registered the highest dip in Market Share and lost a heft 1.1% Market Share in 2018 v/s 2017! It’s high time for Renault to pull its socks and avoid any further drop in its volumes/MS.