While the passenger vehicle industry had projected a YoY growth of 17.5% in terms of Wholesales (source); the registrations have dropped by -8.8% in Oct’20 v/s Oct’19.
Commenting on how October’20 performed, FADA President, Mr. Vinkesh Gulati said, “October continues to see positive momentum on monthly basis but on a yearly basis the negative slide continues to increase. The 9 days Navratri period witnessed robust vehicle registrations but could not save October to go in red as compared to last year when both Navratri and Diwali were in the same month.”
OEM wise Passenger Cars Market Share Data for Oct-20 with YoY comparison –
- Maruti Suzuki reported an increase in Market Share YoY and was able to command a Market Share of ~50% in October 2020.
- Hyundai ranked second and recorded a fall in Market Share of -0.3%.
- Tata had an impressive month where both Wholesale & Retails were better. Tata Motors registered a YoY increase of stellar 41.4% and was one of the highest in Oct’20. It also increased its Market Share by 2.6% in Oct’20 v/s Oct’19
- Mahindra’s Market Share loss was one the highest in October 2020. The Indian major’s market share dropped by -1.2% in Oct’20 v/s same period last year.
- Kia is on a roll. It is already commanding a Market Share of 6.4% within 1 year of operations. Sonet has helped Kia strengthen its hold in the Indian market even further and it grew 81.7% YoY.