NEW DELHI: Kia Motors and MG Motor have consolidated their leadership positions in two essential SUV segments with the Seltos and Hector, even as India’s automobile business is passing by way of its most challenging situations.
The Kia Seltos held a fifty eight% share of the mid-dimensions SUV industry in the to start with five months of 2020. The MG Hector as well accounted for far more than fifty percent the total profits the premium SUV area. Both providers are now in the procedure of ramping up functions soon after the lockdown.
MG Motor India sold six,422 units of the Hector amongst January and May perhaps. The closest competitor, Tata Harrier, according to business estimates, posted just about a 3rd of that at two,153 units. The industry share of the Hector in the premium SUV segment approximately doubled to 52% in the time period. The firm retailed fifteen,930 Hectors in 2019, soon after began providing the auto as late as in July, accounting for 26% of the industry in the segment very last 12 months.
Tata Motors, which has made the decision to report profits on a quarterly foundation, declined to share any figures on profits post March.
MG Motor has pending orders for fourteen,000 units of the SUV priced amongst Rs twelve.seventy three lakh and seventeen.seventy four lakh at showrooms in Delhi, the firm said.
“From the time we restarted functions, we have been acquiring 40-fifty refreshing bookings on a daily foundation. Due to the new norms for social distancing, and constraints in availability of elements and labour, our potential utilisation at the moment stands at all over 40%. We are performing with our vendors to ramp-up further more in June,” MG Motor India president Rajeev Chaba instructed ET.
The firm is set to launch a 6-seater edition of the Hector upcoming month. The auto will be aimed at people today who want to obtain a larger sized utility auto, this kind of as the Toyota Innova Crysta, for personal use. All around two,five hundred-three,000 automobiles a month were being sold in the segment just before the lockdown.
In the midsize SUV segment, Kia Motors India sold 38,one zero one units of the Seltos this 12 months until May perhaps 31. “Even in the course of the lockdown, we received refreshing bookings,” head of profits & promoting said Manohar Bhat said. The firm has pending orders for all over twenty five,000 units of the SUV, priced at Rs 9.89-seventeen.34 lakh (ex-showroom, Delhi).
Kia released a refreshed edition of the Seltos with extra characteristics before this month. It has began manufacturing on a single-change foundation at its facility in Anantapur, Andhra Pradesh. Bhat said the firm will ramp up potential in alliance with vendors, centered on industry need.
The Seltos experienced finished 2019 with a industry share of 19%, in spite of commencing profits only in August.