Tata Motors’ share of M&HCV mkt hits 10-year low in Q1
Tata Motors' market share for medium and heavy commercial vehicles in India dropped to a 10-year low in Q1 FY24, according to data from SIAM. The company's market share fell to 44%, down 560 basis points from the previous year. While bus volumes rose 42%, sales of goods vehicles fell 1.5%. The preference for higher tonnage commercial vehicles has impacted Tata Motors, a key player in the light and small commercial vehicle categories. In contrast, Volvo Eicher Commercial Vehicles and Ashok Leyland saw gains in market share.
New Delhi: India’s largest commercial vehicle manufacturer Tata Motors Ltd saw its market share for medium and heavy commercial vehicles drop to a decadal low in the first quarter of FY24, data released by Society of Indian Automobile Manufacturers (SIAM) showed.