Hyundai and Tata Motors are fighting hard to become India’s number 2 carmaker for the financial year 2023. To date, Hyundai has been the undisputed position holder for India’s number 2. But, now, with the resurgence of Tata Motors in the market, there’s healthy rivalry amongst both the carmakers.
For your reference, four years ago, Tata Motors sold 3.13 lakh units less than Hyundai India. Fast forward to 2022, both the carmakers are neck to neck in terms of sales figures. This also speaks volumes of the customers’ positive sentiments towards owning a Tata product. With the growing nationality, Indians are more than willing to buy Indian products. Not just this, Tata Motors itself has improved massively in the past 4 to 5 years.
Blockbuster products like the Nexon, Altroz, Safari and likes indicate Tata Motors’ dedication and determination for its customers. Another key area is where Tata Motors has massively outplayed Hyundai in the EV segment. The early launch of Nexon EV was a master stroke by Tata that has proved to play a pivotal role. Tata Motors is currently the country’s largest four-wheeler EV maker by a very wide margin. The company is now aggressively planning to launch more products to attract more customers to join the EV movement.
The main reason for South Korea’s declining sales figure is the disruption in the global supply chain. Furthermore, the sporadic availability of semiconductors has hit Hyundai worse than Tata Motors. Interestingly, some reports suggest that Hyundai is now pushing its sister company, Kia, to take more responsibilities. Hyundai is now more of a mainstream company. Thus, customers are also more inclined toward the Kia brand.
With the current trend and the ongoing semiconductor issues, Tata Motors is more likely to become India’s number 2 carmaker. With the growing demand for electric vehicles, Hyundai has to have a strong EV portfolio matching the likes of Tata Motors. This will further boost sales and, simultaneously, lure some of the potential Tata Motor customers to Hyundai showrooms.
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