Around 24.2 Lakh Passenger Vehicles were sold in India for the Year 2020 and the Industry volumes fell by -17.3% YoY. Maruti Suzuki sold 12.13 Lakh units and grabbed a Market Share of 50% for CY2020.
- Maruti Suzuki recorded a degrowth of -18.3% which was inline to the Industry’s decline (-17.3%). However; the OEM’s Market Share dipped by -0.6% in 2020 v/s 2019. Even without diesel model in its portfolio, Maruti managed to sneak in Market Share of 50% for CY2020!
- Hyundai ranked second in the table with a Market Share of 17.4%. Hyundai India volumes fell by -17% YoY and had a flat Market Share growth over last year. Do note that Maruti+Hyundai commanded a Market Share of whopping 67.4% in 2020! The duopoly continues in the Indian market.
- Tata Motors was one of the few OEMs to record a YoY growth and ranked third in the list. It was considerably ahead of the likes of Kia & Mahindra to seal its third spot. It also saw an increment of 1.8% Market Share in 2020 v/s 2019.
- Kia Motors India was the biggest gainer in 2020. The Korean Auto Major saw a whopping 208.8% increment in sales YoY and also recorded the highest Market Share jump – from 1.5% in 2019 to 5.8% in 2020! Kia also pipped M&M to grab the fourth place in the table!
- Mahindra was just 4k units short of Kia and stands fifth in the table. The Indian OEM registered one the highest YoY drop in both Volumes & Market Share. No new product launches in 2020 hurt the sales really bad for the automaker.
- Both Toyota & Honda suffered badly in 2020. While their volumes dropped -39.9% & 47.6% respectively; they collectively lost Market Share of -2.9%.