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News In Brief Auto

Auto Industry: Riders Shifting Towards SUVs

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Auto Industry: Riders Shifting Towards SUVs
14 Jul 2022
6 min read

News Synopsis

Changes in regulations and waves of covid-19 have caused multiple disruptions to the Indian car market over the past three years. India's need for mobility has led to strong demand for cars. However, the type of cars India drives today is significantly different. The market share of the leader Maruti Suzuki is decreasing, but it continues to lead by some distance.
A strong portfolio of SUVs drove homegrown Tata Motors to more than double its market share, while the new Kia has quickly risen the ranks and landed a top-five spot. Tata Motors is putting pressure on Hyundai for the number two spot. Mahindra however, is making a smart comeback with the new Thar and XuV 700. The SUV market share has increased from 16% in 2007 to 39% in the financial year 2021.

An analysis of 16 years worth of Indian UV market sales shows that India accounted for 16 percent of all Passenger Vehicle (PV) sales in FY2007. However, demand rose to 10,60,750 units by FY2021, accounting 39% of total PV sales (27.1,457), an increase of 34% from FY2020.

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