New Delhi sources reported that Home-grown automaker Tata Motors has become the fourth-largest passenger vehicle (PV) maker by dethroning Honda cars Indian in the FY18. Meanwhile according to the data shared by both the companies, Tata Motors sold 187,321 units in the April 2017-March 2018 period, growing at a rate of 22%, whereas Honda Cars India sold 170,026 units in the same period, growing at a rate of 8%.
Accordingly both the carmakers were competing against each other to become the fourth-largest carmaker after Mahindra & Mahindra, Hyundai Motor India and Maruti Suzuki India and further despite growth in the Honda Cars India sales, Tata Motors swiped the fourth slot. The primary reason behind the rise of Tata Motors’ domestic sales is its strong sales of the compact utility vehicle Nexon and mini-hatchback Tiago.
Further since the launch of Tata Tiago, the car maker has been
seeing an uptick in its sales. The Tiago has been contributing over 40% of
Tata’s domestic sales. However, the Hexa and the Tigor did not
fly-off well because of the strong competition in the segment. Furthermore
with the help of the executive sedan Honda City and the crossover
WR-V, the Japanese car maker’s domestic sales are growing month-on-month.
Indian cities are more congested than other Asian countries New Delhi sources stated that according to the Boston Consulting Group (BCG) survey, up to 89% of people plan to buy a new car in the next five years. As per report over 79% would refrain from buying a car if ride sharing matches car ownership for affordability and convenience.
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