Auto majors lose car market share to smaller firms
According to figures released by the Society of Indian Automobile Manufacturers (SIAM), the country`s car market leader Maruti Suzuki India`s (MSI) market share in the passenger car segment fell to 48.74 per cent in the last fiscal from 50.09 per cent in 2009-10.
MSI`s domestic sales, however, increased to 9,66,447 units from 7,65,533 units in the previous fiscal, SIAM said.
In 2010-11, the overall domestic passenger car sales rose by 29.73 per cent to 19,82,702 units from 15,28,337 units in the previous fiscal.
Hyundai Motor India also saw its market share declining to 18.10 per cent in FY 2011 from 20.61 per cent in the previous year.