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SUV/Crossover body style market share has reached its all-time high level of 38%!
The addition of products like Nissan Magnite, Renault Kiger, and Tata punch towards the lower end of the price spectrum has made the segment more lucrative for customers
Lack of demand for entry-level hatchback Maruti Alto was one of the reasons for the drop in hatchback segment share
Hatchback segment also witnessed cannibalization from low priced sub 4m SUV/crossover
In 2021, MUV body style overtook ever declining sedan segment in the Indian PV market
Drop in Maruti Dzire sales has badly impacted overall sedan segment share in the Indian PV market
Hatchback saga in a nutshell
Over the years - Maruti, Hyundai, and Tata established clear tripoly in the Indian hatchback market (since 1998)
Together they commanded over 80% market share at any given point in time
Other manufacturers tried but could not achieve sustainability – Chevrolet, Ford, Renault, Honda, and Fiat
Tata and Hyundai broke Maruti’s monopoly in the hatchback segment in 1998, with Indica and Santro, respectively
Still, Maruti continued its dominance in the hatchback segment
Hyundai took lead over Tata in 2007 after adding new hatchback product line – i10, i20, and Eon
In 2021, Altroz and Tiago helped Tata to make considerable in-roads into Hyundai’s hatchback territory
New i20 lost considerable market share in 2021 due to high prices and i10 has been selling at discounts throughout the year