Thursday, July 7, 2022

Car Market Share May 2022 – Maruti, Tata, Hyundai, Mahindra, Kia, Toyota

Maruti Suzuki, Tata Motors and Hyundai, in top 3 positions, commanded 71.38 percent market share in May 2022

New Tata Nexon
Image – CODE VI

Maruti Suzuki continued its reign in the passenger car market with the highest share of 42.29 percent in May 2022. This was a 10.35 percent YoY gain over 31.94 percent held in May 2021 while on a MoM basis, the company saw its market share increase by 0.71 percent over 41.57 percent held in April 2022.

Tata Motors and Hyundai continued their tussle for a 2nd position which was taken by Tata Motors with a 14.72 percent market share in the past month, down 0.01 percent over 14.74 percent held in May 2021. Tata Motors also saw a 0.55 percent MoM gain in market share from 14.17 percent held in April 2021.

Car Market Share May 2022

In April 2022, it was Hyundai that was in a No. 2 position and had a 15 percent market share which dipped to 14.37 percent in May 2022 down 0.63 percent MoM. Hyundai’s market share in May 2021 had stood at 24.27 percent leading to a 9.90 percent YoY de-growth.

Market share of Mahindra improved 1.37 percent YoY to 9.14 percent up from 7.77 percent held in May 2021. It was also a MoM growth of 1.46 percent over 7.68 percent share held in April 2022. Mahindra’s success can also be owed to new products such as the XUV700 and Thar.

Car Market Share May 2022 vs May 2021 (YoY)
Car Market Share May 2022 vs May 2021 (YoY)

Hyundai’s sister concern, Kia saw its market share dip YoY and MoM. Market share which had stood at 10.73 percent in May 2021 dipped 4.37 percent to 6.36 percent last month. Market share was at 6.48 percent in April 2022, leading to a 0.12 percent MoM decline.

Toyota gained in YoY market share that went up to 3.47 percent in May 2022, up 2.78 percent over 0.69 percent held in May 2021. It was, however, a MoM decline by 1.67 percent over 5.14 percent held in April 2021. Toyota also plans new car launches this year. These include an updated Urban Cruiser, Land Cruiser LC300, a new compact SUV and new-gen Innova.

Honda, Renault, Skoda, VW

Honda’s market share went up to 2.78 percent in May 2022 from 1.97 percent held in May 2021. The company also noted a MoM gain of 0.10 percent over 2.68 percent it commanded in April 2022. Renault’s market share dipped YoY and MoM to 1.70 percent while Skoda saw a YoY gain of 0.87 percent to 1.56 percent in May 2022 from 0.69 percent held in May 2021. MoM share however, dipped 0.19 percent from 1.76 percent in April 2022.

Car Market Share May 2022 vs Apr 2022 (MoM)
Car Market Share May 2022 vs Apr 2022 (MoM)

MG Motor gained 0.38 percent market share YoY to 1.36 percent from 0.99 percent held in May 2022 while MoM share went up by 0.68 percent over 0.68 percent held in April 2022. Volkswagen (1.19 percent), Nissan (0.72 percent), Jeep (0.32 percent) and Citroen (0.01 percent) each saw a YoY de-growth in market share while Nissan and Jeep improved marginally on a MoM basis.

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