Tata Motors aspires to dethrone Hyundai as the second largest automobile
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manufacturer in India by 2023.
The year 2022 was a significant one for the Indian automobile sector. This year, automobile sales have recorded the highest ever sales in the history of the Indian automobile industry. The post-pandemic period has seen an amazing rise in vehicle sales.
Maruti, TATA, and Mahindra are the home grown brands that are in the top five. While the market share of foreign manufacturers Hyundai, Toyota, Honda, Renault, Nissan, and Jeep has dropped in the year 2022.
Let’s take a look at companies which have sold the most number of cars in the year 2022.
Maruti
In the market, Maruti Suzuki continues to be well ahead of its rivals. The Indian-born automobile behemoth has sold an approximate of 15.75 lakh cars in 2022 with
a sales share of 41%. However, the company has seen a 3% portion of the market go to its rivals.
Hyundai
The South Korean automobile company Hyundai is second in sales by a narrow margin to its competitor TATA.
The company sold an approximate of 5.5 lakh cars in 2022 with a sales share of 14.61 %. The market share of Hyundai was down by 2% in 2022.
TATA Motors
TATA Motors has experienced
a resurgence in recent years, rising to third place with an impressive 5.25 lakh car sales in 2022 and
a sales share of 13.9%.
The company is expected to surpass Hyundai's sales in 2023. In contrast with the top two, TATA motors increased its market share by 3% in 2022.
Mahindra
Mahindra, another homegrown brand, had an impressive sales figure in 2022, selling an estimated 3.35 lakh cars during the calendar year with a sales share of 8.86%.
Mahindra increased its market share by 2.23 percent. The company registered the highest rank in sales among the top eight companies.
KIA
Although KIA is new to the Indian market, the company is gaining massive sales; it sold an estimated 2.5 lakh cars in 2022 with a sales share of 6.73%. The market share of KIA was up by 0.76%.
Toyota
The Japanese automotive behemoth Toyota sold approximately 1.6 lakh vehicles in 2022, accounting for 4.24 percent of the market. Although the figures are great, as it is a premium vehicle seller, the company lost some market share in 2022.
Honda
The Japanese premium car manufacturer sold more than 95 thousand cars in 2022, taking a sales share of 2.51%. Honda also dropped its overall market share in 2022.
Renault
The French carmaker Renault had an unimpressive year; the company managed to sell 81 thousand cars in 2022, which is 15% less when compared to 2021 sales figures. Renault’s overall market share has dropped by 1%.
Skoda
The premium car maker Skoda had a great year in 2022; the company's sales have skyrocketed in the calendar year.
Skoda sold 53 thousand cars in 2022, a 125% increase over the previous year. The company earned a sales share of 1.42 percent and gained an impressive market share.
MG (Morris Garage)
MG also had a great number of sales in the calendar year 2022; the company sold an estimated 48 thousand cars, which is a 19% increase when compared to the previous year. MG had a 1.27% sales share in India in 2022.