New Delhi: According to the Federation of Automobile Dealers Association (FADA), the country’s largest carmakers Maruti Suzuki India and Hyundai Motor have seen a decline in their sales. The retail sales share of both car manufacturers has declined in FY2023 as compared to FY22.  

According to the FADA report, Maruti Suzuki India’s retail sales stood at 14,79,221 units in FY 2022-23, giving it a market share of 40.86 percent. At the same time, in the financial year 2021-22, the company retailed 12,39,688 units and achieved a market share of 42.13 percent.

Hyundai Motor sees decline in sales

Like Maruti, Hyundai Motor saw a decline in its share. According to the report, Hyundai Motor India sold 5,25,088 units in retail sales in the last financial year, thereby reducing the market share to 14.51 per cent. At the same time, it had a market share of 16.28 percent in FY2022 with the sale of 4,79,027 units in the domestic market.

Reason behind decline in sales

The reason behind the decrease in the sales of cars of both the companies is being attributed to electronic components. To this, the Maruti Auto major said that it faced a shortage of electronic components with an order backlog of around 3.8 lakh units in the last financial year.

condition of other companies

Tata Motors projects its market share to increase to 13.39 per cent in FY2023 from 11.27 per cent in 2021-22. Whereas, Mahindra & Mahindra sold 3,23,691 passenger vehicles in the last financial year and registered a market share of 8.94 per cent. Kia India sees its market share grow to 6.42 per cent in FY23 from 5.3 per cent in 2021-22. Besides this, Toyota Kirloskar Motor and Skoda Auto also witnessed market share growth in FY23.

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