Ten models drive into elite cars’ list
The Indian car market has approximately 100 models, manufactured by about 15 companies. But only one-tenth of these have sales worth ~6,500 crore ($1 billion) or more as they clock large volumes and have been more successful.
The list of top 10 vehicles, value-wise, is dominated by the top two players in the market — Maruti Suzuki and Hyundai. However, Toyota, the third player on this list, scores and stands ahead of the two companies with its Innova Crysta.
The vehicle with the highest domestic sales in terms of value is the Crysta, the new Innova model launched a year ago by Toyota. The multipurpose vehicle is estimated to be worth more than ~14,200 crore last year to the Japanese automobile maker, a back-of-the-envelope calculation shows.
“The Crysta value of over ~14,000 crore is the largest single model contribution for any manufacturer in India, based on a back-of-the envelope calculation ,” said N Raj a, director and senior vice-president (sales & marketing), Toyota. The new Cry sta is ~2 lakh more expensive, on average, than the earlier model of the In nova. The Cry sta is still on a waiting period of over a month after a year of the launch. Maruti Suzuki’s Dzire is not far behind. The country’s mostsold sedan is estimated to be worth ~14,000 crore, the highest in the portfolio of the company. Last year, Ma rut is old close to 200,000 units of the Dzire, including the Tour variant, which is sold fort axis. With the launch of the new Dz ire early this month, overall Dzire sales are estimated to inch up and make it an even bigger revenue generator for the firm.
The third-largest value-generating car in India, the Creta, comes from the second-largest player, Hyundai. Launched in the middle of the 2015 calendar year, this SUV is estimated to be worth over ~13,500 crore. “The Creta is definitely the largest contributor to our business in value terms. Even though lower in volumes to the Elite i20 and Grand i10, its average price of ~14 lakh makes it the top revenue generator for us,” said Rakesh Srivastava, director (sales & marketing), Hyundai.
The amount being discussed here is not equal to the revenue that these models generate for the companies. The revenue generated would be lower since the calculation is based on exshowroom price, which also includes various central and state taxes and dealer margins. Companies do not disclose the model-wise revenue realisation.
Besides these three vehicles, seven others are also worth a billion dollars or more. Besides the Dzire, Maruti Suzuki has five vehicles on that list. Other Maruti models that bring in revenues of more than a billion dollars are the Swift (~10,000 crore), Baleno (~8,400 crore), Brezza (~8,400 crore), WagonR (~7,800 crore), and Alto (~7,700 crore). Two of these models — the Baleno and Brezza — continue to command a waiting period.
Korean car maker Hyundai has two more products worth over a billion dollars. The company’s Elite i20 is estimated to be worth ~10,100 crore, based on last year’s domestic volume of 126,304 units. The Grand i10 of Hyundai is estimated to be worth ~8,700 crore. Hyundai’s Srivastava says the numbers reflect the popularity of these models, helping in creating a strong brand image for the firm.