Indian Auto Industry dropped to 14% and Product volume 11% degrowth whereas, export registered a 15% growth in Jan 2020. The economy started to reveal some positive signs of revival at the beginning of the year. The truck segment is suffering heavily due to an economic downturn.
In the Passenger vehicle segment, cars registered 8% and Van registered 28% degrowth in Jan 2020. However, SUV and MUV registered showed minor growth of 3% which is slow compared to the previous growth trend. Honda cars had lost around 5% share but Maruti Suzuki tightened its hold on the car segment getting 11% market share in just one year. In the SUV and MUV segment, Kia Motor grew the third-largest player with an 18% market share, and Hyundai added around 4% market share in the same segment in Jan 2020. Maruti and Toyota are the biggest losers in Jan 2020 in SUV/MUV segment.
Indian Commercial Vehicle recorded 14% degrowth in Jan 2020. LCV noted marginal degrowth but the MHCV segment registered 35% degrowth in Jan 2020 compared to Jan 2019. Light Bus segment registered 11% growth and light-duty truck showed marginal degrowth of 1.5% in the first month of CY 2020. MHCV Bus recorded 49% growth and the MHCV truck segment was noted 44% degrowth in Jan 2020 compared to the same month of the last year.
In the MHCV Bus segment, Ashok Leyland lost a 6% market share and its main competitor Tata Motors gained around 7% in the last one year. This progress made Tata Motors the market leader in this segment. In the MHCV Truck segment, Ashok Leyland once again lost 11% market share, and Tata Motors gained 4% market share from Jan 2019 to Jan 2020. In the Light Bus segment, Force Motor gained a 7% market share, but Tata Motors lost 7% market share.
In Light Duty Truck, Mahindra gained around 45% market share including 3% in the last one year and Tata Motors added a marginal market share. Indian Two-wheeler segment recorded 16% degrowth, particularly the Scooter segment registered a double-digit negative growth of 16% and the Motorcycle segment 15% degrowth in Jan 2020 compared to Jan 2019.
In the Motorcycle segment, Baja Auto reported an excellent performance but in Jan 2020 it lost 2% of its market share. TVS also lost a 2% market share in Jan 2020. Hero and Honda were two major players in the Scooter segment that held a combined market share of 66% whereas, Hero MotoCorp lost a 9% market share, and Honda gained a 10% market share in the Scooter segment in Jan 2020.
Three Wheeler Passenger vehicles recorded 19% and Three Wheeler Cargo recorded 10.6% degrowth in Jan 2020.
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