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Tata, Mahindra gain UV share in H1 FY2023, Maruti, Hyundai see declines

Booming utility vehicle market sees all players record strong growth but record volumes see Tata Motors increase its market share to 18.47% while Mahindra with 17% pips Maruti to No. 2 spot.

By Ajit Dalvi

10 Jan 2023

3690 Views

Booming UV market sees all OEMs post robust growth. Record volumes see Tata Motors increase its share to 18.47%; Mahindra (17%) pips Maruti Suzuki (16.65%) to No. 2 spot; Hyundai’s share now 15.52%.

If India’s passenger vehicle market is on a roll with 40% year-on-year growth in April-September 2022, it is thanks to the surging wave of demand for utility vehicles (UVs). Of the over 1.93 million PVs sold (19,36,740 units), the UV sub-segment with 982,456 units and 50% YoY growth accounts for a 51% share, followed by cars with 45% share (879,954 units / up 29%), and vans, (74,330 units) with a 3.83% share.

Every OEM worth its wheel is fighting for its share of the booming UV market and the extent of the 50% YoY growth in the segment can ...

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