New Delhi: According to automobile dealers’ body Federation of Automobile Dealers Association (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.
On the other hand, Tata Motors, Mahindra & Mahindra and Kia India saw an increase in their market share on the basis of retail sales in the last financial year. According to FADA, the country’s largest carmaker Maruti Suzuki India’s retail sales is set to grow to 14,79,221 units in FY2022-23, securing a market share of 40.86 per cent.
Maruti Suzuki faced shortage of electronic components
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.
Similarly, Hyundai Motor India saw a growth in retail sales to 5,25,088 units in the last fiscal, however, its market share declined to 14.51 per cent. 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.
Tata Motors, on the other hand, increased its market share to 13.39 per cent in FY2012 from 11.27 per cent in FY2021-22. 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 registered a market share of 8.94%
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.
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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 last financial year.
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.