Maruti Suzuki continues to lead the Indian car market with over 40% market share.Hyundai and Tata Motors occupied the second and third spots, with a marginal
The pandemic depressed the passenger vehicle market across the world. India emerged as the fastest-growing automobile market for a key reason. Semiconductor chips, important components for cars, went scarce due to the pandemic disrupting supply chains. And when the pandemic effect started waning, there was a big scramble for those chips. India was able to produce cars faster than other major markets because its cars have fewer chips.
Speaking at the companys annual general meeting on Tuesday, Maruti Suzuki chairman RC Bhargava said the company will utilise its cash reserves to double production capacity by 2031. The company will also take up suggestions by shareholders for a stock split to its board for consideration, said Bhargava.
Hyundai And Tata Shares: Hyundai has been comfortably in second place for over a good decade or two now. Its reign is now at stake as the margin between the Silver medal and the Bronze is hardly 1%. The competition is very strong and the competitor is Tata Motors which had snatched the Silver temporarily twice in the recent past.