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New models power UV market share growth for Hyundai, Kia, MG and Renault

Surging demand for new models from two established OEMs and two newcomers sees them carve out UV market share; Hyundai-Kia combine now controls 24% of India's UV segment.

By Ajit Dalvi

13 Nov 2019

19508 Views

The Hyundai Venue, Kia Seltos, MG Hector and Renault Triber are giving a new charge to overall UV industry sales and also expanding their company's UV market share.

Entry of two new brands – Kia Motors and MG Motor – has added fizz to SUV sales, which are up 22% YoY in October 2019 and 0.14% in April-October. UVs sole segment in the black in fiscal year to date.

Take a close look at India Auto Inc's October 2019 market performance and the sole vehicle sub-segment that shines is utility vehicles (UVs). At 22.22% year-on-year growth (100,725 units), it not only accounts for 35.33% of total passenger vehicle sales (285,027 units) but importantly it is also the sole category to be in the black in the first seven months of the fiscal year to date (April-October 2019: 547,572 units / 0.14%). Here too, it constitutes 33 percent of overall PV sales in the seven-month period.

SUVs clearly are good news for the beleaguered Indian automobile industry, which has ...

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