ONCE AN UBIQUITOUS product on the roads, commanding a lion's share of the market, out of every 33 cars sold today just one is a mini car, highlighting a massive shift in the buyer pattern. Five-seater mini cars like Maruti Alto and Renault Kwid will close the year with just 3% share of the domestic passenger vehicle market, a far cry from the 14% share the segment enjoyed in FY19, according to data shared by the Society of Indian Automobile Manufacturers (SIAM).
The 55-60% jump in prices in the past 8-9 years is the primary reason behind the diminishing interest in such cars, said experts. A Maruti Suzuki Alto (800cc) was priced at ₹2.6 lakh in 2015 whereas the same brand (1000cc, as 800cc is discontinued) is available for a minimum of ₹4 lakh (ex-showroom).
This story is from the December 27, 2024 edition of Financial Express Mumbai.
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This story is from the December 27, 2024 edition of Financial Express Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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