Hyundai+Kia beat Maruti Suzuki for the first time in the month of May 2021
Updated: Jun 2
We have covered the UV-specific segment analysis, where Kia+Hyundai have beaten Maruti the previous month. Here it comes as a big surprise that Hyundai+Kia beat Maruti in all models domestic sales volumes.
Kia and Hyundai are siblings of the same family. It was in 1997 when Kia had filed for bankruptcy, Hyundai had purchased a huge share of Kia and had got the company back afloat. To date, Hyundai Motor Company owns a part of Kia Motor Corporation and remains Kia’s largest stakeholder. In return, Kia Motors also has a share in different Hyundai Motor subsidiaries.
Both manufacturers take each other's strengths and use the synergy to their best at the same time maintain different brand philosophies and identities. As you can see, they are related but not the same! As sister companies, both Hyundai and Kia work together, but under separate brand entities, to pull in impressive brand revenues that continue to grow every year.
In India, Hyundai of course was the first mover compared to Kia. However, Kia made up for a late entry with a stellar debut and consistent products which did well in the Indian market.
The month of May, even though was suppressed by lockdowns and shutting of plants for the use of oxygen for medical purpose. It certainly was a month challenging for all. Few OEMs had shut down for a longer period of time and few for a shorter. Hence, a single month with unevenly distributed working days may not show any major market trend, however, the wholesale volumes are visible and need to be reported.
Hyundai+Kia, have managed to score better in terms of YoY growth.
Hyundai+Kia, have managed to score better in terms of controlling the volume growth against April. Have shown a market share of 34.94%, which is a 12% gain.
The only thing, one would attribute the low wholesale of Maruti is to the fact that they had shut down the plant for a longer period of time. We can attribute it to the announced preponed shutdown and closure of the plant to help divert the oxygen for medical purposes.