Maruti increases market share in Q1

The country's largest carmaker Maruti Suzuki India tightened its grip on the domestic passenger vehicles segment, by increasing its market share to 52.54% in the first quarter of the ongoing fiscal.

During the April-June period, Tata Motors overtook Honda Cars India to become the fourth largest player in terms of market share.

According to the latest data by Society of Indian Automobile Manufacturers (SIAM), total domestic passenger vehicle (PV) sales in the first quarter of this fiscal grew 19.91% to 8,73,501 units, against 7,28,483 units.

Maruti Suzuki India (MSI) sold 4,58,967 units of PVs in the April-June period, against 3,67,386 units in the year-ago period, a growth of 24.93%.

In terms of market share, MSI saw it increase to 52.54% during the first quarter, up from 50.43% in the year-ago period.

The company has witnessed good demand of its models such as the new hatchback Swift, compact sedan Dzire, SUV Brezza and premium hatchback Baleno.

Second-placed Hyundai Motor India sold 1,37,114 units during the period, against 1,24,327 units in the first quarter last fiscal, up 10.28%, SIAM data showed.

However, the company's market share fell to 15.69% in the first quarter this fiscal, from 17% in the year-ago period.

Mahindra & Mahindra (M&M) retained its number three position in the segment registering sales of 60,539 units in April-June period this fiscal, against 55,785 units in the same period a year ago, up 8.52%.

The UV major also saw its market share dip to 6.93%, from 7.65% in the comparable period, last fiscal.

Tata Motors registered the fastest sales growth during the quarter at 48.5%, selling 58,969 units, against 39,708 units in the year-ago period.

Subsequently, its market share in the PV segment also increased to 6.75%, up from 5.45% in April-June period last fiscal. It moved up to the fourth spot overtaking Honda Cars India.

During the first quarter, Honda Cars India sold 42,609 units, against 38,562 units in the same period last fiscal, up 10.49%. The company's market share stood at 4.88% in the first quarter this fiscal, down from 5.29% in the corresponding period last fiscal.