Hyundai & Kia duo beat Suzuki first time in UV section sale
Hyundai Motor Company, the fastest-growing car company in India, along with its sister firm has exceeded sales of utility vehicles and beat Maruti Suzuki for the first time ever. Maruti Suzuki is the leader in this segment as well as the market in India. Hyundai Motor India along with group company Kia Motors accounted for one on every three UV sold in April. The utility vehicle segment saw a total sale in millions in 2020-21, becoming the largest growing segment for India-based automakers.
In May, as lockdown were imposed forcing shutdown of factories, sales across India were impacted. Hyundai and Kia, both owned by South Korea based Hyundai Motor Company, took on the sales of passenger vehicles of Maruti Suzuki. Maruti Suzuki India Ltd (MSIL) sold 32,903 units in the domestic market in May, Hyundai and Kia powered by their SUV sales, recorded combined sales of 36,051 units.
In April 2021, MSIL had recorded biggest market share in the utility vehicle segment at 23 per cent. It was followed by Hyundai Motor India and Kia Motors at 22 per cent and 15 per cent respectively. Together, the Korean companies had 37 per cent market share in the segment selling 39.936 UVs together in that month.
The impressive sale tally by Hyundai duo is partly attributed to Kia’s all-UV product. The other contributor is Hyundai which has also been increasing its range in terms of models and variants. Hyundai’s new 5-seater Creta is the new bestseller, and a 7-seater version is all set for launch. Kia is also launching products in the same price bracket of Rs 8-18 lakh.
Shashank Srivastava, ED at Maruti Suzuki said, “The mid-SUV segment has a lot of diesel products and we don’t have a diesel vehicle. We have Brezza and S-Cross, and product development is a continuous process.”