Passenger Vehicle sales saw an upward trend in the first half of FY2021-22 and the sales shot up an impressive 57.7% when compared to the same period in H1 FY2020-21. The Industry was able to scrape through the second wave of Covid and the demand grew stronger in this year. However; the shortage of semiconductor chips hit the supply scenario hard and the OEMs grappled with production constraints.
OEMwise Passenger Vehicle Sales & Market Share -
Maruti Suzuki incurred the highest Market Share drop in H1 FY2021-22 and has fallen below 43% in the first half of H1 FY2021-22. Maruti's Market Share eroded by over 5.4% and was primarily led by Plant Shutdowns in May'21 and also production cut in Sep'21 (due to shortage of semiconductors). There has been no new model launch from the OEM for quite some time now and it is grappling with both loss of market and mind share currently. Maruti's decision to completely exit from the diesel segment would have also led to the decline - However; Maruti is working hard on flex fuels and is already gaining strength in the CNG market.
Hyundai India sales grew by 49.2% in H1 FY2022 v/s H1 FY2021. Hyundai too has lost Market Share and fell down below 17.5% in the first six months of H1 FY2022. Hyundai has seen a tremendous increase in competition models in the recent past - While Creta has seen challenge from Seltos/Hector/Kushaq/Taigun; Venue too had intense competition from the likes of Sonet/Nexon/Magnite/Kiger.
Tata Motors has had a dream run in the past 2 years and its sales volumes have catapulted like no other manufacturer in recent times. The Indian automaker has been able to successfully turn around its passenger vehicles sales in the domestic market and has gained the highest market share in this financial year. The OEM sales shot up over 113% YoY and was able to touch double-digit market share (10.8%) basis the sales in the first half of FY2021-22. Do read our detailed report on how Tata Motors became a formidable Number 3 OEM and charted a Turnaround - here!
Mahindra & Kia have been fighting tooth to nail for the fourth position! However, M&M leads by a small margin in H1 FY2021-22 and overtakes Kia by just 4,972 units. Mahindra has now placed the rabbit out of the hat (XUV700) and expects to gain volumes significantly in the coming months. Will it help Mahindra widen its lead from Kia? Too early to say, as Kia is also planning the launch of its upcoming MPV (KY) in early 2022.
Toyota India has gained volumes with help of Maruti rebadged models - Over 42% of Toyota's sales came from Glanza+Urban Cruiser in H1 FY2021-22! This helped Toyota gain one of the highest market shares in the said timeframe.
Nissan and Skoda recorded triple-digit YoY growth basis the successful launch of Magnite & Kushaq respectively. The sustained sales for these models is now crucial for their respective OEMs.
Indian Passenger Vehicle OEM Market Share -
Segment-wise Passenger Vehicle Sales Analysis -
For a better understanding of passenger vehicle sales; we have categorized the overall volumes in segments (as per SIAM classifications) and the segments considered are -
Mini: Seats upto-5, Length Normally <3600 mm, Body Style-Hatchback, Engine Displacement Normally upto 1.0 Litre
Compact: Seats upto-5, Length Normally between 3600 - 4000 mm, Body Style-Sedan/Estate/Hatch/Notchback, Engine Displacement Normally upto 1.4 Litre
Super Compact: Seats upto-5, Length Normally between 4000 - 4250 mm, Body Style-Sedan/Estate/Hatch/Notchback, Engine Displacement Normally upto 1.6 Litre
Mid-Size: Seats upto-5, Length Normally between 4250 - 4500 mm, Body Style-Sedan/Estate/Hatch/Notchback, Engine Displacement Normally upto 1.6 Litre
Executive: Seats upto-5, Length Normally between 4500 - 4700 mm, Body Style-Sedan/Estate/Notchback, Engine Displacement Normally upto 2 Litre
Premium: Seats upto-5, Length Normally between 4700 - 5000 mm, Body Style-Sedan/Estates, Engine Displacement Normally upto 3 Litre
UVC: Length < 4000 mm & Price <20 Lakhs
UV1: Length 4000 to 4400 mm & Price <20 Lakhs
UV2: Length between 4400 - 4700 mm & Price <20 Lakhs
UV3: Length >4700 mm & Price <20 Lakhs
UV4: Price between Rs. 20 to 30 Lakh
UV5: Price >Rs. 30 Lakh
V1: Hard tops mainly used for personal transport, Price upto Rs. 10 Lakh
V2: Soft tops mainly used as Maxi Cabs, Price upto Rs. 10 Lakh
The sales are classified into 3 Primary categories - Passenger Cars (Hatchbacks+Sedans), Utility Vehicles (SUVs+MUVs) and Vans (Hard Tops / Soft Tops).
The sub-categories and definitions are as highlighted above.
Utility Vehicles have registered the highest YoY growth and is rapidly minimizing the volume gap with passenger cars. UVs overall grew a stellar 93% YoY with volumes of 6,53,691 units in H1 FY2021-22. It was just 27k units short of Passenger Cars.
The model wise classification shall give a much better outlook on the categories and segment volumes. The same is as shown below.
