Surging demand for SUVs powers robust market share gains for Kia, Hyundai, Renault and MG in April-Dec 2019
New models ride wave of demand for SUVs, eat into established OEMs' share and lead the charge for these global players in the Indian market.
11 Jan 2020
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The SUV market in India is firing on all cylinders and how. Yesterday, apex industry body SIAM released industry sales data for CY2019, December 2019, and April to December 2019 and the sole sub-segment in positive territory is that of utility vehicles. In fact, it is thriving despite the hugely dampened market conditions, as seen below:
UV SALES
CY2019: 984,801 (4.78%)
Apr-Dec '19: 725,563 (6.35%)
Dec '19: 85,252 (30.02%)
If it weren't for the sizeable 34.25% contribution from the UV segment to the overall passenger vehicle (PV) market, the PV segment which is down 16.40% (2,117,837) in April-December ...
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