The country’s biggest car maker Maruti Suzuki India (MSI) has regained over 50 per cent market share in the passenger cars segment in October, after four consecutive months of remaining below the coveted mark.
According to figures released by the Society of Indian Automobile manufacturers (SIAM), MSI sold 91,754 units of passenger cars out of a total market of 1,82,992 units, garnering 50.14 per cent market share. The company’s sales have been boosted by its models like Alto, Wagon R, Estilo, Swift, Ritz and A-Star, which had a combined sales of 77,502 units in October.
In October, MSI had sold a total of 1,18,908 units, including exports, which was its highest ever monthly sales, a robust 39.21 per cent jump over the year-ago period.
In the wake of increasing competition from rivals like Hyundai, General Motors and Ford, MSI’s market share dipped to 43.62 per cent in the car segment in June selling 61,589 units out of a total of 1,41,184 units sold in the domestic market.
The company managed to improve its market share slightly in July at 47.94 per cent, cornering 76,111 units out of a total market of 1,58,764 units.
In August, it further increased to 48.73 per cent selling 78,351 cars out of a total of 1,60,794 sold in the Indian market. The company’s market share dropped slightly to 47.94 per cent in September despite selling more cars than the previous month. It accounted for 81,060 units out of 1,69,082 cars sold during the month in the domestic market.
The last time the company had commanded over half of the Indian car market was in May this year, when it sold 76,120 units out of a total market of 1,48,481 units, representing 51.27 per cent market share.