The Seasonally Adjusted Annual Rate (SAAR) of sales for March in India attained a value of 4,042,653.63 Units in 2021
This represents a decrease of 19%, as compared to 1,882,692.62 Units in 2020
The indicator recorded a historical decline (CAGR) of 19% between 2017 to 2021
Automotive Industry in India
The light trucks market includes all light commercial vehicles (LCVs) and light buses and coaches (LBCs). This includes pick-ups and vans but excludes sports utility and similar vehicles. The market value is calculated in terms of the manufacturer’s selling price (MSP) and excludes all taxes and levies.
The Indian light trucks market continued to grow at a remarkable rate by both value and volume, as the country’s rapidly expanding economy fueled demand for vehicles. The market is projected to progress strongly through the forecast period. LCV sales had the highest volume in the Indian light trucks market. The Indian new cars market experienced strong value and volume growth in 2018, followed by two consecutive years of steep declines.
Category segmentation
Light Commercial Vehicles is the largest segment of the light trucks market in India.
Geography segmentation
China owns the largest share in the Asian Light vehicle market in terms of capacity. Japan is second in the ranking list.
Competitive landscape
In the Indian light trucks market, there are two large companies, Tata Motors, and Mahindra between whom competition is fierce. However, the Indian light trucks market has expanded very rapidly in recent years which tends to alleviate rivalry. Both companies operating in this market have operations in other markets, such as passenger car manufacture, which reduces their reliance on the light trucks market to an extent. The Indian new cars market is highly consolidated, with the four leading players, Suzuki, Tata, Hyundai, and Mahindra, expected to account for a majority share of the sales volume in 2021. The leading players in this market are tapping into the growing demand for hybrid and electric vehicles, while alliances within the market are a common strategy. The COVID-19 pandemic halted production in many countries and disrupted the supply chain; as such, the leading players were negatively impacted in 2020.
Who are the leading players?
M&M is an Indian manufacturer and marketer of utility vehicles and tractors. It also provides farm equipment, steel trading and processing, financial, infrastructure development, hospitality, and information technology services. The group operates in Asia, the Americas, Europe, the Middle East, Africa, and Australia.
Tata Motors is an Indian automobile manufacturer with a portfolio comprising of light commercial vehicles, medium and heavy commercial vehicles, utility vehicles, and passenger cars. It has automotive operations in India, South Korea, South Africa, Thailand, Bangladesh, Singapore, Spain, and the UK. The company is a part of the Tata Group, one of the leading business groups in India.
Hyundai Motor Company is another leading player in this market. The company produces vehicles under its Hyundai and Kia brands and markets products under Veloster, Venue, Azera, i40, Elantra, Tucson, Accent, Kona, Creta, Sonata, i20, ix20, and other brands.
Germany
Japan
Netherlands
United States of America
United States of America
Germany
Germany
Japan
South Korea
China
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