The passenger vehicle industry is on a strong recovery path due to pent-up demand and has posted strong wholesale volume in H1 of 2021, defying current economic sluggishness induced by the COVID-19 pandemic, and high price inflation – both – passenger vehicle and fuel. In fact, 2021 H1 is the second-best H1 year wholesale, after 2018, in the entire history of India.
Body style
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UV/Crossover body style has reached its all-time high market share of 35%
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Hatchbacks have given up market share, as demand for entry-level cars like Maruti Alto has reduced in the pent-up demand phase
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SUV/Crossovers like Nissan Magnite/Renault Kiger has had disrupted the lower end of the market with a new starting price point, which is closer to large hatchbacks like Maruti Baleno or even Maruti Swift for that matter
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Sedan segment continues to slide downwards
Manufacturer
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Top 5 manufacturers command 85% market share in India
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Maruti witnessed loss in market share and Tata gained market share in same period
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Major drop in hatchback segment is due to low demand for Alto during pent-up demand phase
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Lack of diesel engine has affected Maruti’s share in sedan (fleet segment) and SUV/Crossover segment
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As suggested by several media reports – Maruti is working on a BS6 diesel engine for its UV portfolio and also developing a replacement for its current SUV/Crossover portfolio – this will certainly help them to get back from their lost track
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Tata has gained market share in the hatchback segment with all new product Altroz and rejuvenated demand for Tiago
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SUV/Crossover market share gain is due to the introduction of all-new Safari, updated Harrier and Nexon
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Similar to Tiago, Tigor too have got a new boost due to facelift and strong market push
Products
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Maruti Baleno + Toyota Glanza (Volume – 1,07,177) is best selling product in 2021, so far.
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Maruti Brezza + Toyota UrbanCruiser (Volume – 73,971) cruiser is the best-selling SUV/crossover in 2021, so far.
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Tata Altroz has scored over the new generation Hyundai i20.
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Maruti Ertiga+XL6 is performing exceptionally well.
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Toyota Innova despite production constraints has had managed 20th rank.
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Despite being 8 years old now, Ford Ecosport is holding its position quite well in a very competitive segment
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MG Hector continues to sustain high volumes.
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Nissan Magnite production ramp-up in the coming months will boost its rank further.
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With such a phenomenal response, Mahindra Thar is now a sales icon too, which even Mahindra hasn’t imagined.
