Core Insights - The share of hatchbacks in the overall passenger vehicle (PV) industry sales has decreased from 22.4% in January-August to 20.4% in September-October, and further down to 20% in October, indicating a declining trend in this segment [1][5][6] - In contrast, the share of SUVs has increased from 54% in January-August to 56.9% in September-October, reaching 57% in October, highlighting a strong demand for SUVs [7][8] - The mid-SUV segment has also seen growth, with its share rising from 12.8% in January-August to 15% in October [8] Industry Trends - The GST reforms have positively impacted SUV sales while small cars, including hatchbacks and sedans, continue to lose market share [3][4] - The share of sedans has also declined from 8.5% in January-August to 7.9% in October [6] - The trend indicates that consumers are upgrading to larger vehicles rather than opting for smaller cars, driven by aspirations for bigger cars [9] Company Strategies - Hyundai plans to focus on the SUV segment for future launches, with expectations that the share of SUVs and MPVs in its PV sales will increase from 71% to 80% by 2030 [10] - Maruti Suzuki is open to adjusting its product launch strategy based on the recent surge in small car sales, which have risen to over 25% of its overall sales since the GST reduction [11][12] - The new GST regime has reduced the tax on small cars, but larger vehicles are still taxed at a lower rate compared to previous levels, influencing consumer purchasing behavior [13]