Hyundai overtakes Tata Motors to grab third spot in May
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India's leading car makers Maruti Suzuki, Hyundai Motor India and Tata Motors all sold fewer vehicles in May from a year ago as sluggish demand, especially at the entry-level, kept the dispatches flat.
However, Korean auto major Hyundai Motor India climbed up the ranks to the third spot in the passenger vehicle market in May ahead of Tata Motors, but trailed Mahindra & Mahindra (M&M), which retained the second slot for the second straight month this year.
Market leader Maruti Suzuki remained ahead of rivals with sales of 135,962 units, but volumes fell by about 6% in May. Hyundai too saw volumes dip by 10.8% to 43,861 units last month but managed to stay ahead of Tata Motors with a lead of 2,304 units. At Tata Motors, sales slid 11% to 41,557 units. All three companies lost market share in the range 150-220 basis points in May.Mahindra & Mahindra (M&M) and Toyota Kirloskar Motor (TKM) bucked the trend, growing market share to 14.9% (+ 260 bp) and 8.3% (+150 bp), respectively. Mahindra and Toyota took major strides on the back of its refreshed portfolio of SUVs over the last couple of years – sales share from metros for the companies rose to 24% (from 14% in FY21) and to 35% (from 31% in FY21), respectively, data from automotive consultancy firm JATO Dynamics showed.
Mahindra is in the process of expanding capacity by 24% to 67,000 units per month by the end of FY27. The company is also looking to set up a new greenfield facility to meet demand, in the mid-term.'Our current SUV capacity utilisation is already over 90%. With the new products we are planning to launch, it's clear we will need additional capacity,' Rajesh Jejurikar, executive director and chief executive officer (automotive and farm sector) said in a recent interaction,In May, Partho Banerjee, senior executive officer (marketing and sales) at Maruti Suzuki said, while small car sales have been on a slide impacting more automakers in the segment, demand for SUVs too has waned. 'If we leave out the new models which have come in the last year, industry volumes fell by 8% in May', Banerjee said, adding military operations in border areas of Gujarat, Maharashtra and Jammu & Kashmir also hit the company's sales last month. These states account for 9% of total sales of Maruti Suzuki.Banerjee, however, said forecasts of above normal monsoons are a 'good sign' and coming months 'will be better.'Hyundai Motor India said while the week-long maintenance shutdown at its manufacturing facility in Tamil Nadu last month affected availability of critical models, it is confident of growing sales going ahead. HMIL Chief Operating Officer Tarun Grag said he is 'hopeful of a steady increase in demand with reduced uncertainty on the geo-political front and improved macro-economic situation.'The recent revisions in income tax slabs coupled with rate cuts being engineered by the central bank will enhance affordability among buyers, said Vivek Srivatsa, chief commercial officer at Tata Passenger Electric Mobility, told ET. 'It will release disposable income and boost consumption. But where customers spend the money is a challenge. During and after covid, demand for personal mobility took a huge jump. That has now reduced a bit. Experiences, travelling with family, these things are now more of a priority', said Srivatsa, who also heads operations of the company's internal combustion engine passenger vehicles. Overall he expects the domestic market to grow by about 5% in FY26, he said.
Separately, in the two-wheeler segment, Hero MotoCorp managed to edge past rival Honda Motorcycle & Scooter India (HMSI) to regain the top slot with sales of 488,997 units in May. Sales at the Japanese two-wheeler maker fell 7.4% to 417,256 units last month.
( Originally published on Jun 02, 2025 )
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