The Hyundai motors is again in the news for being selected as the second largest passenger vehicle manufacturer in the country. The company is able to gain the title as a result of overwhelming success of its i10 model. The company has left behind the Tata Motors in the passenger vehicle segment.
The first quarter of this year was not profitable for many car manufacturers like Maruti Suzuki India Ltd (MSIL), Tata Motors, Honda Siel, General Motors, Ford and Toyota.
Maruti experienced a dip in its market share from 46.03 per cent during the same period last year to 44.86 per cent this year. The Tata Motors also reported a low market share from 14.89 to 14.41 per cent. Thus, the Hyundai motors took over the number two position with its raised market share from 13.96 to 16.91 per cent.
Many other car manufacturers including the Toyota, Ford, Honda Siel and General Motors have also seen a downfall in the sale. However, the Mahindra &Mahindra, Hindustan Motors, Fiat, Skoda, Mercedes-Benz and BMW are among those car manufacturers which have reported positive growth.