With a Year till date volume of about 16,44,909 units, the Indian PV industry is on a rapid growth track. The growth rate has crossed the 35% mark and continues to soar higher with new launches around the corner.
The volume-wise ranking continues to remain unchanged with Maruti leading the pack followed by Hyundai and then Tata, Mahindra, and Kia in the top 5 PV manufacturers ranking.
The growth in terms of volume-wise came from Maruti as rank 1, However, the next biggest gains came from TATA Motors, with a growth of about 89,277 units. The third highest gain in volume was from Hyundai with 60,385 units. In total, the industry grew by about 4,33,110 units.
On a percentage basis, the highest growth came from Nissan, Skoda, Fiat, Tata Motors, and Toyota. The Industry grew by 35.74% for the 7 months period.
The Market share gainers were, of course, Tata Motors with a high of 3.41%. The next in growth came from Mahindra with a 1.12% growth in market share. Nissan grew by 0.99% in market share.
The highest drop in market share came from Maruti Suzuki with -5.79% and Hyundai also lost a market share of about -1.09%. Renault and Honda also lost market share at -0.13% and -0.03% respectively.