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According to automobile dealers’ body FADA, passenger vehicle leaders Maruti Suzuki India and Hyundai Motor saw their market share decline in FY23 as compared to FY22 as they grappled with the shortage of electronic components. Tata Motors, Mahindra & Mahindra and Kia India, on the other hand, saw their market share increase on retail sales basis in the last financial year. According to Federation of Automobile Dealers Association (FADA), retail sales of the country’s largest carmaker Maruti Suzuki India grew to 14,79,221 units in FY 2022-23, securing a market share of 40.86 per cent.
It retailed 12,39,688 units in 2021-22 and achieved a market share of 42.13 percent.
Earlier, the auto major had said that it faced a shortage of electronic components in the last fiscal with an order backlog of around 3.8 lakh units.
It sold 4,79,027 units in the domestic market in FY2012 and its market share during the same period stood at 16.28 per cent as per FADA data.
It sold 4,84,843 passenger vehicles in the last financial year, as against 3,31,637 units in the 2021-22 financial year.
Mahindra & Mahindra sold 3,23,691 passenger vehicles in the last financial year and registered a market share of 8.94 per cent. FADA said it retailed 1,99,125 units in FY22 to register a market share of 6.77 per cent.
Kia India sees market share grow to 6.42 per cent in FY23 from 5.3 per cent in 2021-22.
Its retail sales increased from 1,56,021 units in FY12 to 2,32,570 units in the previous fiscal.
Toyota Kirloskar Motor and Skoda Auto Volkswagen Group also witnessed market share growth in FY23.
FADA said it collected vehicle registration data from 1,349 out of 1,435 RTOs across the country.
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This news is auto-generated through an RSS feed. We don’t have any command over it. News source: Multiple Agencies: Autocar India, hindustantimes, economic times, autonews
