Indian automotive giant, Tata Motors has surpassed Hyundai India for the number 2 spot in the domestic market.
Twice in December 2021 and May this year, the Indian carmaker overtook the Korean auto giant in sales, with the difference between the two firms a slender 23,939 units from December 2021 till November 2022.
Going forward, Hyundai’s 15-year perch at the number 2 spot could get precarious if its meager presence in the electric vehicle segment — the main driver behind Tata’s success — continues.
Currently, Hyundai has just one EV in the market, the Kona, which has sold only about 1,200 units since its launch in July 2019, with average sales of 50-60 units every month, compared to an average of 3,400 electric cars sold by Tata Motors per month.
In contrast, Tata has the Nexon EV, Tigor EV and Nexon EV Max, which contribute 7.8% to its total sales, and have collectively shown a 30% increase in sales since December 2021.
Tata looks to be in a stronger position in the EV space in the coming year too, reportedly with two launches — the Altroz EV and the Punch EV.
Hyundai India will bolster its EV bouquet with the Ioniq 5 electric car, bookings for which will start on December 20, and launch soon after its showcase at the Auto Expo in January 2023.
Shailesh Chandra, managing director, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, had told FE recently that the demand for all Tata cars remains strong. “All our models are leaders in their respective segments, forming a portfolio that is rich in selections, ranging from smart trim choices to strong powertrain options,” he had said. Also, while the global semiconductor shortage negatively impacted the supply chains of most carmakers, Tata Motors was able to find solutions to keep the production momentum going, Chandra claimed.
“The demand for SUVs is rising and Tata Motors has a great line-up in the Punch, the Nexon, the Harrier and the Safari. The Altroz premium hatchback is selling well too, and the carmaker is getting additional volumes of 3,000-4,000 units just from its EV business (which others don’t have),” said an analyst who did not wish to be named.
But Gaurav Vangaal, associate director, Light Vehicle Forecasting, S&P Global Mobility, is of the opinion that though Tata Motors plans to bring in more car models next year, including electric, it is struggling with its launch timelines. “Hyundai India, on the other hand, is sticking to its product launch timelines, and will launch two new models in 2023, which are expected to give the Korean carmaker an advantage over others,” he said.
But Tata Motors will remain an electric car leader by far. Last month, it rolled out its 50,000th electric car from its Pune facility.
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