UV segment is India's largest & fastest growing Passenger Vehicle Segment for FY 21-22.
Cumulatively with MUV's and SUV's they have 53.87% of the Indian Passenger Vehicle Industry. This is at a rapid growth rate of 8.99% YTD.
The Indian passenger vehicle industry has witnessed a consistent change in segment-wise contributions. The Utility vehicles segment continues to grow and grow strong. The Sedan segment continues to lose its foot hold in the sales front. The hatch back segment even though strong, still continues to degrow on the contribution front. Cumulatively because of the rise in the UV volumes, we have witnessed a growth in the Passenger vehicles industry in India.
The total Industry this year has witnessed a volume of about 16,44,909 units. When compared to last year's YTD volume of about 12,11,799 units. This is a volume growth of about 4,33,110 on a year till date basis. The huge volume growth of over 35% would be down to single-digit if we remove the contributions made by the UV segment. Clearly stating that UVs contribution to the Indian Passenger vehicles growth story.
The Utility vehicles contributed about 6,54,145 units. This was a strong growth of over 2,81,190 units. On a percentage basis, this cumulated to about 75.3% growth for a YTD basis.
The MUV segment continues to hold fort with a volume of about 2,31,990 units. and a growth of about 61,252 units.
Hatch Backs have a strong volume performance of 6,00,689 units. However, on a percentage basis, it's only a 13.5% growth when compared to the 35% of the Industry itself.
The Sedans continue to lose ground and have got their contributions down to 9.61%. This is one of the lowest levels reached by the sedan segment for long and the slide has been consistent over the last 18 months.