Car Sales in India for the Year 2020 – Maruti manages to grab 50% Market Share!
Around 24.2 Lakh Passenger Vehicles were sold in India for the Year 2020 and the Industry volumes fell by -17.3% YoY. Maruti Suzuki sold 12.13 Lakh units and grabbed a Market Share of 50% for CY2020.
Maruti Suzuki recorded a degrowth of -18.3% which was inline to the Industry’s decline (-17.3%). However; the OEM’s Market Share dipped by -0.6% in 2020 v/s 2019. Even without diesel model in its portfolio, Maruti managed to sneak in Market Share of 50% for CY2020!
Hyundai ranked second in the table with a Market Share of 17.4%. Hyundai India volumes fell by -17% YoY and had a flat Market Share growth over last year. Do note that Maruti+Hyundai commanded a Market Share of whopping 67.4% in 2020! The duopoly continues in the Indian market.
Tata Motors was one of the few OEMs to record a YoY growth and ranked third in the list. It was considerably ahead of the likes of Kia & Mahindra to seal its third spot. It also saw an increment of 1.8% Market Share in 2020 v/s 2019.
Kia Motors India was the biggest gainer in 2020. The Korean Auto Major saw a whopping 208.8% increment in sales YoY and also recorded the highest Market Share jump – from 1.5% in 2019 to 5.8% in 2020! Kia also pipped M&M to grab the fourth place in the table!
Mahindra was just 4k units short of Kia and stands fifth in the table. The Indian OEM registered one the highest YoY drop in both Volumes & Market Share. No new product launches in 2020 hurt the sales really bad for the automaker.
Both Toyota & Honda suffered badly in 2020. While their volumes dropped -39.9% & 47.6% respectively; they collectively lost Market Share of -2.9%.