SUV/Crossover body style market share has reached its all-time high level of 38%!
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The addition of products like Nissan Magnite, Renault Kiger, and Tata punch towards the lower end of the price spectrum has made the segment more lucrative for customers
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Lack of demand for entry-level hatchback Maruti Alto was one of the reasons for the drop in hatchback segment share
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Hatchback segment also witnessed cannibalization from low priced sub 4m SUV/crossover
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In 2021, MUV body style overtook ever declining sedan segment in the Indian PV market
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Drop in Maruti Dzire sales has badly impacted overall sedan segment share in the Indian PV market
Hatchback saga in a nutshell
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Over the years – Maruti, Hyundai, and Tata established clear tripoly in the Indian hatchback market (since 1998)
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Together they commanded over 80% market share at any given point in time
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Other manufacturers tried but could not achieve sustainability – Chevrolet, Ford, Renault, Honda, and Fiat
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Tata and Hyundai broke Maruti’s monopoly in the hatchback segment in 1998, with Indica and Santro, respectively
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Still, Maruti continued its dominance in the hatchback segment
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Hyundai took lead over Tata in 2007 after adding new hatchback product line – i10, i20, and Eon
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In 2021, Altroz and Tiago helped Tata to make considerable in-roads into Hyundai’s hatchback territory
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New i20 lost considerable market share in 2021 due to high prices and i10 has been selling at discounts throughout the year
