The popular compact and midsize SUV segments have apparently eaten into the sales numbers of hatchbacks in the first half of 2024 in India
In the Indian market, the compact and midsize SUV segments’ sales numbers have consistently risen in recent times due to their popularity. The increased competition in both segments is a major contributor along with them being value-for-money propositions compared to the passenger vehicles with other body styles in the below Rs. 10 lakh space.
The hatchbacks are getting costlier every year leading to buyers weighing up the options against compact SUVs with the latter proving to be more desirable. In the last two to three years, the growth of the micro SUV segment should be taken into account as well. The Tata Punch emerged as the best-selling PV in India over the last few months while the Hyundai Exter is also garnering good sales tally.
Reports indicate that Hyundai is also looking to enter the segment while Maruti Suzuki is also said to have a new model in the pipeline as automakers are exploring both ICE and electric variants. To reassure, the SUV trend is reflected in the sales volumes as the segment contributes to over 52 per cent of the total market share in the first half of this CY.
It is no secret that SUVs have eaten into the sales tally of hatchbacks as the segment attributes to only 26 per cent of the total. The MUV segment, on the other hand, has gained more market share to sit at 13 per cent courtesy of an encouraging growth of 27 per cent. The midsize SUV segment witnessed plenty of activity in H2 2024.
The heavily updated Creta has helped keep the cash registers ringing. At the same time, the Mahindra Scorpio N, Kia Seltos and Maruti Suzuki Grand Vitara were rewarded with good sales figures due to their expansive range and they appeal to a wide range of consumers with multiple powertrain and transmission options.
Moving up the order, the sales numbers of models like the Mahindra XUV700 and Toyota Fortuner are a testament to the success of SUVs in India and last but not least, the spaciousness, high ground clearance and overall practicality offered by the body type are too good to resist for Indians!
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