Tata Motors has reclaimed the number 3 position in the Indian market surpassing Mahindra & Mahindra in terms of the passenger vehicle sales for FY 2020-2021. The brand registered annual sales of 2,22,025 units, the highest ever sales in eights years amounting to a growth of 69% compared to the previous fiscal. In the passenger vehicle segment, the brand sold 29,654 cars, 422% more than the same period last year (Mar-2020) when Tata PV sold 5,676. In Q4 of 2021, the brand sold 83,857 units compared to 32,000 units in Q4 2020 pegging 162% growth.
Market Share & Growth
Tata Motor’s market share of 5% in the last year grew to 8.2% in 2021. This is reportedly the highest gain in the market share as the industry is recording a decline of 2% in the passenger vehicle segment. The top 6 market leaders include Maruti Suzuki at the top with a share of 48% in 2021, Hyundai with a market share of 17.3%, Tata Motors standing at 8.2%, Mahindra at 5.8%, Kia at 5.7% and Toyota at 3.4%. Except for Tata Motors and Kia, all others in the top 6 chart have shrunk their market share in the passenger vehicle segment.
Tata Passenger Cars Responsible For The Growth
Experts believe that the Tata Altroz and the Tata Safari are responsible for the growth in the market. It is also important to note that in the electric vehicle sector, the company sold more than 4,200 units of the Tata Nexon EV which holds a market share of around 64% in the EV segment. Tata also recently introduced the new version of the Altroz called the i-Turbo which features a 1.2-litre three-cylinder turbo petrol engine that makes 110 PS of power and 140 Nm of torque. This new powerful engine helps the brand to compete with the all-new Hyundai i20 and the Volkswagen Polo TSI. The Tata Safari on the other hand features a 2.0-litre four-cylinder turbo-diesel motor that pumps out 170 Hp of power and 350 Nm of torque and competes with 7-seater SUVs such as the MG Hector Plus.