Kia closing the gap to Tata; Can the Korean duo upset Suzuki?
Kia is at the no. 4 spot in the monthly car sales in just over a year.
Recent entrant Kia, sold 21,021 units in the month of October, reducing the gap to 3rd placed Tata Motors (23,600 units) to just 2,579 units. With 56,600 cars sold in the last month, Hyundai too has posted good sales numbers.
While Kia reported a 64% YoY growth, Tata registered a growth of 79% and is placed at the number 3 spot while the former is in 4th position in terms of monthly sales.
Maruti has reported 1,63,300 units for the October month, with a MoM gain of 11% and a YoY increase of 18%. The Japanese carmaker commands a 49% share in the India new car market.
Hyundai and Kia have a combined market share of 22.1% with 77,621 units. While still far from the leader, the Korean duo could possibly compete with Maruti Suzuki with more product offerings.
Due to the Covid-19 lockdown, and an overall slow down in the auto industry, vehicle production in India has been on the lower side. But, this festive season, sales have improved and some manufacturers have shown good improvements.
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