The company that was most disappointed was Maruti Suzuki. The company’s last month’s sales fell 43% to a level not seen in the last 8 years.
Sales have fallen by 8% in the last three years. Lastly, the company’s market share was 42% in 2013-2014. After that it is only present.
Maruti has long held over 50% share of the Indian car market. Currently it is down 43%. Although semiconductor chip shortage and corona failure are some of the reasons for this decline in sales. The main reason seen is the growth of competing companies.
Maruti is facing a tough challenge in the market. Companies like Kia and MG, which are newly launched, are holding separate shares for themselves in the market.
Companies like Tata, Mahindra and Hyundai are also challenging Maruti. People rely more on other corporate cars than Maruti cars mainly on safety aspects.
In the last few years, the development of SUVs and the parking of diesel cars have caused a setback for Maruti.
Many companies are currently in the field of entry level and hatchback segments, which are Maruti’s flagship markets. Apart from this Maruti does not have a big market value in the existing SUV segment cars. Tata has a presence in that segment.
Shares of Maruti Suzuki India (MSI) fell 43.65% this year from 47.72% last year. Hyundai’s stock fell 15.78% from 17.39%. Shares of Tata Motors grew by 12.27% to 12.14%.
Mahindra also grew by 5.80% to 7.40%. The share of India’s largest companies, Maruti and Hyundai, has fallen as the overall market has grown.
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