Kia beats Hyundai, Tata, Mahindra, Ford, Honda to achieve the fastest 1,00,000 in a single FIN. YEAR
Many Automobile OEMs started their journey in the Indian Market in the late 90s but only a few are able to crack the market Maruti would have done.
One such way of understanding is how many years these OEMs took to sell 1L units in a single financial year. Below is the Y-o-Y sales figures of a few OEMs:
6 out of the above 7 OEMS started their Automobile journeys in late 90s
Hyundai, Tata & Renault being the fastest to reach 1L units milestone in a single FY since their entry in the Indian automobile market
Renault was able to reach this milestone after the launch of Kwid in 2015
Honda is the slowest amongst these as it took 15 years to reach 1L units in a single FY and this was possible with the launch of Amaze in 2013
Ford is yet to reach this milestone in spite of entering the Indian market 21 years ago – as a result, we saw the merger of Ford with Mahindra in mid-2019
KIA stood out from the rest and achieve the mark in the second year itself. A remarkable achievement for someone who has understood the market the best way.
The above data clearly indicates that those companies that understood the Indian customers’ requirement/tastes/buying pattern and brought in new products at the right price have been able to gain higher volumes PS: Maruti’s initial data was not available (1984-1998) and hence has been excluded from the aforementioned comparison.