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Hyundai vs Tata. The Fight for Rank 2 in the Indian PV Industry. [This FY]

The Passenger vehicles industry in India touched a handsome 27,41,917 numbers this year from April to February 2022. Apart from a couple of months (May and September ), the PV industry has consistently crossed 2 lakhs monthly basis. While we always talk about Maruti, when it comes to the PV Industry, it is worth noticing the war between rank 2 and rank 3 and how has their contribution been shaping up over the last 11 months of this year.

Hyundai clocked a volume of about 4,36,900 this year from April to February, this came at a monthly average of about 39,718 numbers. On the other hand, Tata Motors had registered a volume of about 3,28,083 units, with a monthly average of about 29,826 units. However, the YTD volumes and monthly averages do not give us a complete picture of how the battle for rank 2 has shaped up this year. we have made an attempt to give it different perspectives as below.

  1. The lead trend of Hyundai over Tata motors ( Month on Month Analysis )

Hyundai did have an aggressive start in April where the lead over Tata Motors was as high as 23,906 units. However, it is to be noted that never after that the monthly lead touch the 20k mark. In fact, the lead kept dwindling down every month, until December when Tata Motors was able to take over Hyundai for the first time in a long time.

While one can attribute the shrinking of the gap to the new models, aggressive ATL, and new CI experience of Tata motors, we will also have to keep in mind the production crunch that Hyundai did face this year.

2. Month wise Volume trend between Hyundai and Tata Motors

The Hyundai's year started with a bang with close to the 50k mark in April. However, the nearest they came to the same figure again was in July and August. After that again we experienced a fall in volume until the recent January and February, where the volumes passed the 40,000 mark again.

Tata Motors on the other hand seems to have got everything right in terms of volume trend. consistently, Month after month Tata Motors has managed to register stable growth, which eventually has started moving towards the 40,000 mark and upwards.

3. Quarter-wise & Month Wise Market share comparison

If we look at the four quarters of this Financial Year, it's clearly evident that Hyundai did have a bumper start in the first quarter, everything seemed going its way and Hyundai was on its way for a 20% market share. However, every since Quarter two The trend turned towards falling market share.

In the second quarter the market share fell below 17.5 % and then continued to drop to 14% and eventually YTD in Q4 it is at 14.74%.

Tata Motors on the other hand continued stable growth in their market share Quarter After Quarter and Month after month. Q1 saw Tata motors touching close to a double-digit mark and they did surpass the double-digit mark in Q2.

Q3 and Q4, saw Tata motors further consolidate its market share and even overtake Hyundai in the month of December. What is worthy to be seen here is that the trend continues to be positive and it is not a short-term blip of a one-month story. The growth in volume, market share, and narrowing down the gap with Hyundai is on the rise every single month.

4. Hyundai & Tata Motors : top 5 cars

Creta and venue continue to drive the volumes for Hyundai. The SUV bets have seemed to work well for all OEMs, for Hyundai its no different. Close to 45% of Hyundai's volume comes from only these 2 cars. The rest of the top 5 are made up with i10,i20 and XcentAura.

Tata Motors seems to have a more spread out strategy with volumes coming from each segment. the SUV, Premium Hatch, Hatch, compact SUV and the premium suv space.

While we have witnessed a strong performance from TATA Motors, which has narrowed down the gap with Hyundai and in fact is rearing to take over the rank 2 positions, one also needs to remember that Hyundai isn't an easy pushover. Hyundai does have its set of tricks up its sleeve with model launches and refresh round the corner, with which they would certainly want to consolidate their position as a formidable number 2.


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