Hyundai Reclaims second spot in PV market in June

Korean carmaker Hyundai Motor has reclaimed its second spot in the domestic passenger vehicle (PV) market as it outsold Tata Motors by nearly 4,000 units last month.

Published: 02nd July 2022 07:40 AM  |   Last Updated: 02nd July 2022 07:50 AM   |  A+A-

Hyundai Motors

Hyundai Motors (File Photo | AP)

Express News Service

NEW DELHI: Korean carmaker Hyundai Motor (HMIL) has reclaimed its second spot in the domestic passenger vehicle (PV) market as it outsold Tata Motors by nearly 4,000 units last month. In June 2022, Hyundai’s domestic PV sales stood at 49,001 units as against Tata Motors 45,197 units.

In the past seven months, Tata Motors has outsold Hyundai twice in monthly sales as the race between the two automakers has intensified for the second spot. In May 2022, Hyundai had sold 42,293 units while Tata Motors had sold 43,341 units to become the second largest car seller for the month.

Global semiconductor shortage that appears to impact Maruti Suzuki and Hyundai more than other OEMs and Tata’s aggressive product launches in the last few years has helped the home-grown  automaker to outpace industry’s growth by a noticeable margin.

Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd said that demand for PVs continued to stay strong in Q1 FY23 even as the supply side remained moderately impacted due to the lockdown in China. HMIL Director (Sales, Marketing and Service) Tarun Garg, said that with the semiconductor situation showing signs of easing out, the sales numbers have again started showing a positive trend. Garg added that the newly launched Hyundai Venue has also received good customer response.

Going forward, competition between Tata and Hyundai is expected to remain intense as the two automakers have plans to ramp up production and widen their electric vehicle portfolio.
Overall, PV sales in June 2022 remain subdued or flat when compared with May 2022 sales as most manufacturers are still unable to produce vehicles in required quantity due to the unavailability of crucial electronic components.

Owing to this reason, country’s largest carmaker Maruti Suzuki (MSIL) sold 122,685 units in June 2022, down from 124,280 units in June 2021 and 124,474 units in May 2022. MSIL was probably the only carmaker which registered Year-on-Year decline in sales. Recently, the carmaker had informed that it has a booking backlog of 3.15 lakh units.

Hyundai Vs Tata Motors

June 2022 Domestic sales

Hyundai 49,001 units

Tata Motors 45,197 units

Maruti Remains in Slow Lane(2022)

April: 121,995 units
May: 124,474 units
June: 122,685 units



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp