The passenger vehicle industry is on a strong recovery path due to pent-up demand and has posted strong wholesale volume in H1 of 2021, defying current economic sluggishness induced by the COVID-19 pandemic, and high price inflation - both - passenger vehicle and fuel. In fact, 2021 H1 is the second-best H1 year wholesale, after 2018, in the entire history of India.
Body style
UV/Crossover body style has reached its all-time high market share of 35%
Hatchbacks have given up market share, as demand for entry-level cars like Maruti Alto has reduced in the pent-up demand phase
SUV/Crossovers like Nissan Magnite/Renault Kiger has had disrupted the lower end of the market with a new starting price point, which is closer to large hatchbacks like Maruti Baleno or even Maruti Swift for that matter
Sedan segment continues to slide downwards
Manufacturer
Top 5 manufacturers command 85% market share in India
Maruti witnessed loss in market share and Tata gained market share in same period
Major drop in hatchback segment is due to low demand for Alto during pent-up demand phase
Lack of diesel engine has affected Maruti’s share in sedan (fleet segment) and SUV/Crossover segment
As suggested by several media reports – Maruti is working on a BS6 diesel engine for its UV portfolio and also developing a replacement for its current SUV/Crossover portfolio - this will certainly help them to get back from their lost track
Tata has gained market share in the hatchback segment with all new product Altroz and rejuvenated demand for Tiago
SUV/Crossover market share gain is due to the introduction of all-new Safari, updated Harrier and Nexon
Similar to Tiago, Tigor too have got a new boost due to facelift and strong market push
Products
Maruti Baleno + Toyota Glanza (Volume - 1,07,177) is best selling product in 2021, so far.
Maruti Brezza + Toyota UrbanCruiser (Volume – 73,971) cruiser is the best-selling SUV/crossover in 2021, so far.
Tata Altroz has scored over the new generation Hyundai i20.
Maruti Ertiga+XL6 is performing exceptionally well.
Toyota Innova despite production constraints has had managed 20th rank.
Despite being 8 years old now, Ford Ecosport is holding its position quite well in a very competitive segment
MG Hector continues to sustain high volumes.
Nissan Magnite production ramp-up in the coming months will boost its rank further.
With such a phenomenal response, Mahindra Thar is now a sales icon too, which even Mahindra hasn’t imagined.