Following is the data of the market share that respective car manufacturers secured in Indian market in the year 2016-17 (till february):
Car Manufacturers Market Share(% in 2016-17)
Maruti Suzuki 47.74%
Hyundai 16.85%
M&M 7.81%
Tata Motors 5.65%
Honda 5.20%
Toyota Kirloskar 4.74%
Renault 4.07%
Ford 3.02%
Nissan 1.89%
Volkswagen 1.50%
Looking at the figures, it is clear that Maruti owns almost half the share of automobile market followed by Hyundai and Mahindra and Mahindra. But it is to note that after the top two positions, there is not any phenomenal difference in the %age of the market share of the companies. Thus, all the companies that follow are tightening up their performances and getting ready to climb up the ladder and securing the third position in the list. All these companies are able to earn profits due to one or two models that are sold in large quantities.
M&M is India's largest utility vehicles seller which landed up the company in the third position. But it can so not afford to sit and enjoy the ranking because it has already started facing a tough competition from Ford Ecosport and Renault Duster. Both are gaining rapid popularity in the segment that is said to be mastered by the homegrown company. To keep up the progress the company will launch 6 products in the new fiscal year. Two will be based on all new platforms, the U321 and S201, and go against Toyota Innova and Maruti Suzuki Brezza. The company will also introduce U302 based on TUV platform. It also has to keep a track of losing market grip from high-volume product Balero and KUV. While other companies grew around 28-30% in 2016-17, M&M could make it to only 3%.
Tata Motors grew phenomenally as compared to other Companies like Honda and sat on the 4th position with pride, owing to its successful Tiago hatchback and Hexa SUV and the newly launched Nexon and Tigor. It worked on its cost inefficiencies from the past, improved upon the cosmetic design and performance of the car and also opened the new vertical TaMo which looks after the launch of ahead of the time technology based vehicles under its banner. All this has contributed in gathering more consumers for the company.
Honda is losing its position in the market severely, and the reason can be the shifting interests of the customers from sedan to SUVs, which are less on maintenance and better in terms of features and safety. Also, its diesel variants are losing customers as the prices of diesel and petrol have become almost the same unlike before. Realizing the scenario, the company manufactured WR-V SUV. Mobilio and it's popular Honda City facelift which gave the company its momentum back. The company is also by bringing back the Civic, a locally-assembled Accord and introducing a diesel version of the CRV.
Toyota Kirloskar Motors stand on the market share of 4.74% owing to its Fortuner and Innova sales. Rest everything is still to be improved upon. The company will target the A and B segments, where vehicles are priced below Rs 10 lakh. It is also working towards the cleaner Hybrid based cars which are selling well in the market, ie, Camry and Prius. It will also partner with Suzuki over achieving a zero carbon footprint by 2050, if only it can afford the funding of the project.
Thus, all the above-mentioned car manufacturers from around the globe are just a fraction of a percentage behind each other and the table are expected to turn anytime.
