Maruti, Hyundai lose market share in retail sales

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The market share of Maruti Suzuki and Hyundai Motor fell in 2022-23 due to the shortage of electronic equipment. Automobile dealers’ body FADA said. Tata Motors, Mahindra & Mahindra and Kia India saw an increase in their market share. The retail sales Maruti Suzuki rose to 14,79,221 units in 2022-23 and a market share of 40.86 per cent.In 2021-22, it had a share of 42.13% with 12,39,688 units. Similarly, Hyundai Motor saw an increase in retail sales at 5,25,088 units but its market share dropped to 14.51 per cent against 16.28% in 2021-22. Tata Motors on the other hand saw its market share rise to 13.39 per cent in FY23 from 11.27 per cent in 2021-22 fiscal. It sold 4,84,843 passenger vehicles last year against 3,31,637 units in 2021-22. Mahindra & Mahindra sold 3,23,691 passenger vehicles last fiscal to log in a market share of 8.94 per cent. It had retailed 1,99,125 units in FY22 to record a market share of 6.77 per cent, FADA said. Kia India also witnessed a rise in market share at 6.42 per cent in FY23 from 5.3 per cent in 2021-22. Its retail sales rose to 2,32,570 units last fiscal from 1,56,021 units in FY22.