M&M is slowly losing the UV race

Mahindra’s Market Share in Utility Vehicles used to be as high as 55% (FY2011-12); but in FY 2019-20, it has more than halved to 19%. M&M has lost over 5% Market Share in the UV segment in the last FY itself – The UV Market Share dropped from 23.8% in FY 2018-19 to 18.7% in FY 2019-20. The bigger matter of concern here is that the OEM has lost Market Share even after the launch of products like Marazzo, XUV300 & Alturas in the past 1-2 years timeframe. So what happened in these years that Mahindra is losing the game that it mastered?

M&M understood the Indian landscape well and its products like Bolero & Scorpio are still sought after in rural markets. It did create a stir in the urban cities with XUV500 and  there was a time (in year 2011) where Mahindra had to stop bookings for the XUV500 where it garnered 8,000 bookings in just 5 cities where it was initially launched (Mumbai, Delhi, Bangalore, Chennai & Pune). But over the years; Mahindra lost the sheen with XUV500 and it had missed the bus in rolling out a sub-4m Compact SUV on time. We don’t count the launch of Quanto / Nuvosport as it was never an indigenous product from Mahindra’s stable – rather was a shortened Xylo of sorts. Even the XUV300 which came in 2019; was based on the Tivoli platform but the length was compromised to fit in sub-4m range – And; was priced comparatively higher to peers as well. The previous 3 launches from Mahindra’s – Marazzo, XUV300 & Alturas was launched with the intent to gain an ‘incremental’ volumes of 8,000 to 9,000 units per month; but are not able to bring even half of those numbers currently.

The likes of Maruti & Hyundai learnt from the mistakes of M&M and carefully drafted launches in the segment with much more market research and consumer study. Do note how even Hyundai joined the party late with Venue and launched it in May 21, 2019 – But; it ticked all the boxes customer wanted in the segment and Venue also emerged as the 2nd Best Selling SUV for FY20! (link).



  • Maruti retained the Top Spot as India’s largest Utility Vehicle maker in FY 2019-20. The launch of XL6 in the previous fiscal bolstered Maruti’s position as the No.1 UV maker. However; it lost -3.5% Market Share in FY20 v/s FY19.
  • Hyundai gained big in UVs with the launched of Venue. Hyundai’s UV Market Share shot up from 13.7% in FY19 to 18.8% in FY20. Hyundai even pipped Mahindra to emerge as India’s second biggest UV maker.
  • Mahindra lost the highest market share in UV segment and now slipped to Rank 3. FY21 shall be even more crucial as a lot of new UVs are planned to be launched from other OEMs.
  • Kia emerged as the dark horse and overtook the likes of Toyota in UV Market Share in the first year of operation itself! It now holds an envious market share of 9.1% in UVs. Also both the launches from Kia were in UV segment itself (Seltos, Carnival).
  • Toyota’s market share loss was the second-highest in FY20 (after Mahindra). The Japanese major lost -3.7% Market Share in UVs in FY20 v/s FY19.

Indian Car Sales Figures – July 2019

Modelwise Car Sales Figures for July’19 –





Segment Wise Sales Data – 

1. Entry Hatchback Segment:

2. Compact Hatchback Segment:

3. Premium Hatchback Segment:





4. Compact Sedan Segment:

5. Executive Sedan Segment:

6. Premium Sedan Segment:

7. Luxury Sedan Segment:





8. Compact SUV Segment:

9. Mid-SUV Segment:

10. Premium SUV Segment:





11. Lifestyle Offroader Segment:

12. MUV Segment:

13. Van Segment:

Indian Car Sales Figures – June 2019

Modelwise Car Sales Figures for June’19 –





Top 25 Selling Cars of June’19 –





Segment Wise Sales Data – 

1. Entry Hatchback Segment:

2. Compact Hatchback Segment:

3. Premium Hatchback Segment:





4. Compact Sedan Segment:

5. Executive Sedan Segment:

6. Premium Sedan Segment:

7. Luxury Sedan Segment:





8. Compact SUV Segment:

9. Mid-SUV Segment:

10. Premium SUV Segment:





11. Lifestyle Offroader Segment:

12. MUV Segment:

13. Van Segment:

Indian Car Sales Figures – May 2019

Modelwise Car Sales Figures for May’19 –





Top 25 Selling Cars of May’19 –





Segment Wise Sales Data – 

1. Entry Hatchback Segment:

2. Compact Hatchback Segment:

3.Premium Hatchback Segment:





4. Compact Sedan Segment:

5. Executive Sedan Segment:

6. Premium Sedan Segment:





7. Luxury Sedan Segment:

8. Compact SUV Segment:

9. Mid-SUV Segment:





10. Premium SUV Segment:

11. Lifestyle Offroader Segment:

12. MUV Segment:

13. Van Segment:

May 2019 Car Sales – Snapshot

Tough times persist for the Indian Auto Industry and even tougher times lurk ahead. The Passenger Vehicle sales saw a dip of -21% in May’19 v/s May’18. The de-growth extent is now increasing every month and has questioned the viability of many dealer establishments. Considering the stats – on an average two vehicle dealerships have shut every week over the past two years! With the Indian automotive retail sector incurring losses of at least Rs 2,000 crore in this period, over 205 dealers have wound up operations and shut 300 outlets as their business turned un-viable and an estimated 3,000 people have lost their jobs.

Source: ET

Base effect along with high finance cost and liquidity constraints has primarily pushed to subdue automobile sales in May. Lower consumer sentiment and the recently concluded general election also had a major part in sales slowdown. The high inventory levels at the dealerships has been a consistent concern and all OEMs are trying their part to lower the dealer stock which is even more hampering the monthly offtake volumes.



Let’s see how the OEMs fared in May’19 –

  • The nation’s top automaker, Maruti Suzuki reported the highest Market Share fall in May’19. It lost a staggering 3.1% MS in May’19 owing to low wholesale volumes in the month. It registered a YoY degrowth of -25.1% and Maruti’s loss was primarily Hyundai’s gain.
  • Hyundai was the biggest winner in May’19. Though it saw a degrowth of -6%; the OEM registered an increase of 2.9% in terms of Market Share. A lot of this success could be attributed to the launch of the sub-compact SUV Venue.
  • Mahindra establishes itself as a clear No.3 post XUV300’s launch and sells a staggering 7,403 units more than the 4th ranked Toyota.
  • Toyota topples Tata & Honda to become the 4th best-selling OEM. Glanza effect? We shall let you know shortly.
  • Tata grappling with low performance? Maybe yes, maybe no. Tata has recently taken a stand to lower dealer stock and is clearly visible from the recent communication it shared to its channel partners –

  • Nissan+Datsun are unable to understand on how to recover from the monthly shortfall. The OEM registered the highest YoY degrowth at -48%. No wonder; in 2017-2018 Nissan had the most number of dealers shutting shop (38 dealers to be precise)!
  • Another shocker of May’19 was the decline of FCA volumes. FCA now ranks last in the table and Skoda has effectively pushed the Italian carmaker to the bottom. Fiat is primarily on its deathbed and could sell only 14 units in May’19; while Jeep sold a meager 977 nos in the past month.




Market Shares figures for May’19 –