Maruti Suzuki has recorded the highest market share in over 10 years after capturing half of passenger car sales in the country in July 2015.
Maruti Suzuki has garnered the highest market share in the Indian passenger car segment in more than a decade for the month of July 2015. One out of every two cars retailed in the country in July was a Maruti vehicle. This can also be attributed to the fact that the Indian car major also produced the most number of units of the Alto and Wagon R in the same period. A total of 1.33 lakh cars were produced last month with an aim of selling 1.39 million to 1.44 million units this fiscal year. Maruti’s share prices also increased in July 2015, with its stock price now being more valuable than parent company Suzuki.
The company’s local sales witnessed a hike of 22 percent, maintaining a sales mark of more than 1 lakh units since the beginning of this fiscal year. Maruti’s market share has been steadily climbing every month since the last fiscal year ended. New launches including the S-Cross and Celerio diesel might also have helped the company achieve the highest market share last month. The significant milestone is one that is very difficult to manage considering the extremely competitive car market in India.
Other big gainers in the market include manufacturers like Hyundai and Honda, who have capitalised on falling market share of Mahindra, Tata, Fiat and General Motors. Maruti’s success rate is due to its aggressive strategy of constantly updating models in relation to other car manufacturers. Since the last 5 years, the car major has doubled its retail outlets to 1619. Though Hyundai and Honda are both experiencing record sales as well, Maruti’s massive lead is expected to remain in the near future.