Post-pandemic skew: Surge in premium car sales, but lower-price segment still down | Business News,The Indian Express

Data from the country’s top three passenger vehicle manufacturers, Maruti Suzuki, Hyundai Motors and Tata Motors – these account for over 70% of all car sales in FY 2021 – show that all of them have made a decisive shift up.

Data from the country’s top three passenger vehicle manufacturers, Maruti Suzuki, Hyundai Motors and Tata Motors — these account for over 70% of all car sales in FY 2021 — show that all of them have made a decisive shift up.

For market leader Maruti Suzuki, cars costing Rs 10 lakh and above (the premium segment), as a percentage of its total portfolio of models, have grown from just 2.5% in FY20 to 14% during the current fiscal. For Hyundai, that jump is from 20% to 40%; and for Tata Motors, it’s from 20 to 28%.

Numbers from industry lobby group Society of Indian Automobile Manufacturers (SIAM) for the first half of this fiscal show that the sales growth is led by sports utility vehicles (SUVs), which constitute a big chunk of passenger vehicles costing over Rs 10 lakh and above. While sales of passenger cars, including entry-level hatchbacks, during the first half of this fiscal over the same period in 2018-19 have declined by 24.7% to 880,000 cars, sales of utility vehicles during the same period have increased 111.6% to 982,000.

Sale of premium cars is expected to help auto companies clock record numbers this fiscal — the last record high year for automobile companies was 2018-19.

https://indianexpress.com/article/business/post-pandemic-inequality-surge-in-premium-car-sales-lower-price-segment-stalls-8211026/


Post ID: b0460242-1ad0-445a-9361-0363345e4924
Rating: 5
Updated: 3 months ago
Your ad can be here
Create Post

Similar classified ads


News's other ads