The Pre-Budget month grew a healthy 14% in Jan’17 vis-a-vis Jan’16. The growth was attributed by the factors of heavy discounting of 2016 models by the OEMs and was particularly led by Maruti Suzuki. The Indo-Japanese car maker crossed the 50% Market Share in Jan’17 and started the year with a bang. Also Jan’17 marked the launch of 2 crucial products to their respective OEMs – Ignis for Nexa & Hexa for Tata.
Hyundai too registered a steady growth of over 10% but was way lower than that of the market leader. However, Feb’17 can bring more excitement to the Korean MNC – the new Grand i10 launch is slated this month.
Honda however recovered the Fourth Spot in the rankings table. Though the OEM has de-grown 9% YoY; it has grown ~55% when compared to Dec’16! The upcoming City facelift in Feb’17 can improve the game for Honda.
Hexa dispatches would have started in Jan’17 and the same is clearly seen in Tata’s numbers. The company has seen steady numbers now and Hexa’s success will define Tata’s 2017!
Luxury Brands have now encountered their worst phase in India. The effects of Demonetization seems to have lingered and not a single luxury brand registered growth in Jan.