The Indian automotive market is growing at a rapid pace as more new automakers are entering the market. Now, although it is a good thing for the buyers as they have a lot more options to choose from, a number of major automakers are losing their market share. Of these, the prominent automakers are Maruti Suzuki, Hyundai, and Honda. These brands have lost a significant chunk of their share in the market. However, on the flipside, automakers like Tata, Mahindra, and Kia have gained share as well.
Indian Automakers and Market Shares
Maruti Suzuki
First off, let’s start with the market share details of the country’s largest carmaker, Maruti Suzuki India Limited. Back in 2014, the company had a market share of 46.27%, following which, till 2019, it reached a peak of 50.09%.
However, in 2024, after 10 years, its share has reduced to 40.41%. In the short term (2019–2024), MSIL’s market share has reduced by 9.68%. But in the long term, it has reduced by 5.86%.
Hyundai
Next up, we have the second-largest carmaker in India, which is Hyundai Motor India Limited. The South Korean automotive giant’s market share in 2014 was 16.92%, and till 2019, it managed to reach 18.96%.
Currently, its market share is 14.76%, which represents a short-term (2019–2024) share reduction of 4.2%. However, in the longer term (2014–2024), the reduction is limited to 2.16%.
Honda
Although historically Honda Car India has not been a huge player in the Indian automotive market, it has still been around for ages. Unfortunately, its market share has been going down. Back in 2014, Honda had a market share of 7.29%. However, by 2019, it fell to 4.65%.
At the moment, its market share has gone down even more, and it is at 1.42%. In the shorter term, the market share loss of Honda stands at 3.23%. However, in the longer term, Honda has lost 5.87%.
Tata Motors
Now, coming to the brighter side of things, Tata Motors has been seeing decent growth in the country. In 2014, its market share was 4.86%; however, by 2019, it reached 6.02%. Tata Motors currently has a market share of 12.82%.
This represents that the brand has seen a long-term growth of 7.96%. Meanwhile, in the short term, it has gained 6.8%, which is a very respectable amount of growth.
Mahindra
Back in 2014, Mahindra had a decent 9.28% market share in India. However, by 2019, it had fallen to 8.01%. Thankfully, in 2024, its market share has gone up by 3.78%. On the other hand, in the long term (2014–2024), the growth of Mahindra Automotive has been at a modest 2.51%.
Toyota
Although Toyota sells only a few models, which have become super popular, the brand’s market share has always been less. In 2014, it was 4.94%, while in 2019, it was at 4.78%. Presently, Toyota in 2024 has a share of 7.59%.
In terms of longer-period change in market share, the company has posted a growth of 2.65% from 2014 to 2024. Also, in short-term growth, the company’s growth is at 2.81%.
Kia
Last but not least, Kia, which has joined the Indian automotive market recently, currently has a market share of 6.28%. What’s also impressive is that it has managed to grab a market share of 6.28% in just five years. Its long-term and short-term growth are the same.
