What settled the ranking
In July Maruti Suzuki reported 196,203 units, Tata 62,611, Mahindra 60,048 and Hyundai 54,210. Year on year the gains were 58.42 percent at Tata, 42.41 percent at Maruti, 23.30 percent at Hyundai and 20.41 percent at Mahindra. On the monthly side the table shows something else: Tata rose 0.86 percent and Mahindra fell 0.57 percent.[1]
The 2,563-unit gap between Tata and Mahindra comes out of those two monthly moves. Another explanation is available: Mahindra's June volume of 60,393 units was a strong level for the company, so the 0.57 percent monthly fall could be the result of a high June base. A single month of data is not enough to tell which explanation holds.[1]
Two Junes, two different measurements
Hyundai's June production was disrupted by a fire at a supplier's facility; its volume rose from 39,635 units to 54,210, up 36.77 percent on the month. Maruti rose 33.30 percent on the month from June's 147,187 units. Those two similar-looking percentages measure different events: one is recovery from a disrupted base, the other a rise from an ordinary month.[1]
Mix carries information with a longer life than the ranking. Tata's electric vehicle wholesales crossed 15,000 in a month for the first time, and at MG electric vehicles made up more than 80 percent of volumes. A shift in product mix reverses more slowly than a monthly volume ranking. That gives two signals to watch: Tata's electric vehicle units staying above 15,000 in August and September, and Mahindra's monthly change turning positive.[1]