The MPV segment in India has seen consistently growing sales over the the course of the year with many new launches and new found acceptance with private buyers.
The slowdown in the automobile industry is no new news. It was only last month that manufacturers saw some stocks moving because of the festive season. Every automobile segment including hatchbacks, sedan and oh, so popular SUVs saw a slump in sales. However, according to a report by Jato Dynamics India, it was only the MPV segment which saw a growth in sales in between April to September in FY2019-20.
To give you some statistics, in between the period April to September, MPV sales stood at about 124,000 units, growing by 4% over 119,000 units sold last year during the same period. In comparison, hatchback sales went down by a massive 30% with 508,000 vehicles sold between April-September 2019, as against 659,000 units sold during the same months last year. Even the SUV segment saw a de-growth of 12% and the minivan segment too fell by 22% in the past six months. However, it was the entry-level car segment that was most badly hit with a de-growth of 67% followed by sedans recording a de-growth of 66% in the the last six months.
The MPV segment has been consistently growing in India, particularly because it has now found acceptance among private buyers. Coupled with quite a few new launches which include the new generation Maruti Suzuki Ertiga, Mahindra Marazzo, Renault Triber and the Maruti Suzuki XL6, the MPV space has seen quite some action over the course of the year. The Toyota Innova Crysta continues to be strong seller in the segment.
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The Innova Crysta has sold over 4500 units every month in between the period April-September and the Maruti Ertiga has sold over 8000 units month-on-month during the same period. However, the Tata Hexa and the Renault Lodgy were among the few slow sellers in the segment. During FY2018-19, MPVs sold 1.79 lakh units, posting a growth of 14.1 per cent over FY2017-18. During the same period, the overall passenger vehicles segment grew at 2.7 per cent.
Also Read : Mahindra Marazzo based Ford MPV on the Cards for India!
With the growing popularity of the MPV segment in India, more and more manufacturers are now eyeing this segment. Hyundai India is said to be developing an MPV that will arrive by the early next decade and we already know that the Kia Carnival is arriving at the 2020 Auto Expo itself. Even Ford is planning on a new MPV based on the Marazzo. This space is ure to see some tough competition in the days to come.
