SUVs to drive Indian UV market share to develop to 53% by FY26: Report

Variety of utility automobiles in India elevated from 42 in FY13 to 68 in FY20.

By :
HT Auto Desk

Up to date on:
16 Mar 2022, 20:41 PM

The SUVs are witnessing rising demand within the Indian market in final couple of years.

Excessive calls for for SUVs to consequence within the Indian utility automobile market share to develop from 39 per cent in FY21 to 53 per cent in FY26, claims a report by Crisil. The report additionally claims that the share of utility automobiles, comprising each SUVs and MUVs has elevated to 48 per cent within the first 9 months of FY22, from 15 per cent in FY02. This exhibits how briskly the expansion trajectory of utility automobiles within the Indian passenger automobile market has been.

(Additionally Learn: Tata Nexon EV, India’s best-selling electrical automobile, receives value hike)

The examine additionally claims that the utility automobile section will witness a progress of 14-18 per cent CAGR between FY21 and FY26, whereas the small automobiles will see as much as six per cent progress throughout this era.

Within the latest previous, calls for for utility automobiles have been rising at a quick tempo. The calls for for utility automobiles, particularly SUVs have been rising so quick, that it’s squeezing different segments comparable to compact sedans, midsize sedans and to some extent the hatchbacks as nicely. Whereas the primary time consumers used to depend on small hatchbacks, in a modified situation, they’re specializing in SUVs, particularly the compact ones.

Availability of a variety of merchandise from numerous automakers in each petrol and diesel powertrain choices, a number of linked automobile options, elevated affordability, lowering gaps between the sedan and SUV costs, larger consolation degree and security provided by SUVs are enjoying essential roles behind this progress momentum.

The examine factors out how the rising variety of utility automobiles in India has helped the expansion on this section. It stated the variety of utility automobiles within the nation elevated from 42 in FY13 to 68 in FY20. It additional stated that Maruti Suzuki Vitara Brezza, Hyundai Creta, Maruti Suzuki Ertiga, Tata Nexon, Mahindra XUV300, Kia Seltos, Hyundai Venue, Renault Triber, Kia Sonet, Nissan Magnite, and Renault Kiger presently constitutes 70-80 per cent of India’s utility automobile section.

The report signifies that probably the most adversely impacted section as a result of progress of the utility automobiles might be small automobiles. It claims that again in FY12, the market share of small automobiles stood at 65 per cent, whereas within the first 9 months of the present monetary 12 months, it was considerably all the way down to 45 per cent.

First Revealed Date: 16 Mar 2022, 20:40 PM IST

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