SUVs gained the highest Market Share in 2020!
Way back in 2015, SUV segment used to contribute to about 13.5 percent to the overall passenger vehicle sales. This number became about 26 percent in CY 2019. In CY 2020, the SUV segment has further gone up from 26 percent to 29 percent.
SUV/Crossover gained market share on cost of Sedans, which has been out of favor for a long time, now
MUV segment was largely supported by new-gen Ertiga and Triber, and was dragged down by late and slow introduction of Innova BS6 facelift
Hatchbacks seen good traction due to pent-up demand
India remained a small car market with 76% of cars sold were smaller than 4m in length
Battery Electric Vehicle market share was 0.16%
Maruti continues to dominate in every body style (mostly sub 4m segment), with exception of SUV/Crossover, that’s largely due to absence of BS6 diesel engine and product portfolio gap (read it as poor product choice like S-Cross)
Hyundai and KIA had a strong presence in SUV/Crossover segment
Mahindra the original UV maker, was struggling amidst the new breed of crossovers
Toyota Innova still has good market share despite ever increasing price
MG too grabbed good market share in fastest growing SUV/Crossover segment
Hatchback is still right ingredient to achieve higher volume
SUV/Crossover is right ingredient to achieve higher margins
A rich mix of both the above mentioned ingredient, and generous use of MPV will lead to sustainable profitability in mass market segment
But in luxury car segment, Sedan still have substantial presence, as owners still prefers to be driven in luxury of back seat