Passenger Vehicle Registrations saw an increase of 24% YoY and around 2.7 Lakhs passenger vehicles were registered in India for December 2020.
New launches in PV and a fear of price increase in the month of January 2021 kept the demand going. Supply side issues in passenger vehicles continued for the 2nd straight month thus making waiting period as high as 8 months in select OEM vehicles. Dealer Inventory continues to fall with PV inventory ranging from 15-20 days.
OEM wise Passenger Cars Market Share Data for Dec-20 with YoY comparison –
- Maruti Suzuki reported an increase in Market Share YoY and was able to command a Market Share of >48% in December 2020.
- Hyundai ranked second and recorded a fall in Market Share of -0.9%.
- Tata again had an impressive month where both Wholesale & Retails were better. Tata Motors registered a YoY increase of stellar 78.3% and was one of the highest in Dec’20. It also increased its Market Share by 2.2% in Dec’20 v/s Dec’19
- Mahindra’s market share dropped by -0.7% in Dec’20 v/s same period last year.
- Kia is on a roll. It is already commanding a Market Share of 6.6% within 1 year of operations. Sonet has helped Kia strengthen its hold in the Indian market even further and it grew 73.3% YoY.
Luxury Car Sales in December 2020 –
- Luxury Cars Retails saw a dip of -29.1% YoY and the segment is still struggling to improve its retails.
- Mercedes volumes fell by -27.5% in Dec’20 v/s Dec’19. However; it was able to increase its Market Share by 0.9% v/s last year.
- JLR recorded the highest Market Share fall in Dec’20 and the volumes dropped by -41% YoY.