Maruti Suzuki and Hyundai give direct competition to each other in the Indian car market. Hyundai seems to be capturing some of Maruti Suzuki's passenger vehicle market share on the strength of its new SUV Venue. These days Hyundai of South Korea is in the strongest position in the last 5 years in terms of passenger vehicle market share.
For your information, only two companies - Maruti Suzuki and Hyundai - have a total share of more than 68% in the country's passenger vehicle market, whereas there are a total of 20 car companies. These include new companies such as MG Motor and Kia Motors. Since launch, more than 30 thousand high-speed vehicles have been delivered so far. Also, the company has received bookings of more than 90 thousand units.
At this time, Hyundai's passenger vehicle market share has increased to 18.36% in the first 5 months (April-August) of the current financial year despite the sluggishness of the auto industry across India. During the same time last year, it's market share was 15.6%. Not only this, it has the highest market share of the company in the last 5 years. Hyundai's success was due to its sub-compact SUV Venue launched on May 21. On the other hand, Maruti Suzuki's market share has fallen to 49.83% in the first 5 months of the current financial year. It is at a low level of the last three years. The main reason for this is the sales of Maruti Brezza lagging behind Hyundai's Venue.
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