Passenger car market share India FY 2022, by vendor

Maruti Suzuki had the leading share in the passenger car market across India in fiscal year 2022 with nearly 42 percent. The top three players held approximately 75 percent of the market share. This was predominantly due to brand loyalty and new launches.

Kia Motors India

Beating these odds was Kia Motors which entered the Indian market in the second half of 2019. With special utility vehicles (SUV), the company saw considerable increase in sales. Within a short span, the company outperformed its well-established foreign competitors, including German based Volkswagen, Skoda, and Nissan.

Slowdown of the passenger vehicle segment

Despite the company’s success, the industry overall witnessed a double-digit drop in the sales volume of passenger cars. This was presumably due new emission standards, a general slowdown in the economy, and the coronavirus (COVID-19) outbreak.