Tata Motors Beats Hyundai to Become India's Second Largest Car Seller
Tata Motors has surpassed Hyundai to become India's second-largest car seller with a market share of 17.4% due to recent launches and a focus on electric vehicles.
According to recent data released in March 2023, Tata Motors has overtaken Hyundai to become India's second-largest car seller. The company has secured this position with a market share of 17.4%, while Hyundai's market share stands at 16.7%. Maruti Suzuki continues to hold the top position with a market share of 48.2%.
Tata Motors' sales have grown by 18.7% in March 2023, while Hyundai's sales have declined by 12.3%. This has helped Tata Motors to surpass Hyundai and become the second-largest car seller in India. Other major automobile companies in India that made it to the top 10 list are Mahindra & Mahindra, Honda Cars India, and Toyota Kirloskar Motor.
The increase in demand for Tata Motors' cars can be attributed to its recent launches and its focus on electric vehicles. The company has been introducing electric variants of its popular models, and this has helped it gain a competitive edge in the market. The success of Tata Nexon EV and Tigor EV has contributed significantly to the company's growth in the EV segment.
Tata Motors' achievement is significant as it has managed to beat a strong competitor like Hyundai in a highly competitive market. This is a positive development for the Indian automobile industry, and it shows that there is room for new players to emerge and challenge established brands.
Overall, the automobile industry in India is witnessing significant growth, and with the entry of new players and the focus on electric vehicles, it is likely to grow even further in the coming years.