Tata Motors inches closer to Hyundai in race for number two spot

Tata Motors NSE 0.83 percent is rapidly closing the gap on India's No. 2 manufacturer, Hyundai Motor

in terms of passenger car sales, thanks to strong demand for its SUVs and improved semiconductor sourcing.

The Indian electric vehicle market is witnessing an expansion. With the sales chart out for the month of May 2022

Tata Motors also benefited from a maintenance shutdown at Hyundai's India plants last month.

Tata Motors achieved its highest-ever monthly sales in May, with 43,341 cars sold

surpassing Hyundai Motor India's 42,293 units.

Tata Motors has overtaken its South Korean rival in the highly competitive Indian passenger car market for the second time in the last six months.

Tata Motors has recently launched the Nexon EV Max in the Indian market.

However, insiders say Hyundai, the maker of the Creta and Venue, may be able to recoup lost output in June and July as semiconductor supplies increase.

In the domestic market, Tata Motors is only 10,000-11,000 units behind Hyundai Motor India in cumulative sales for the calendar year 2022. 

Hyundai sold 218,966 vehicles in the first five months of 2022, compared to 207,979 for Tata Motors.

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