NEW DELHI — A new pecking order is emerging in India's overcrowded automotive industry and a shakeout is underway. Three years ago, Maruti Udyog Ltd. — a 50/50 joint venture between Japan's Suzuki Motor Corp. and the Indian government — owned 83% of the passenger car market. Then last year, Maruti's market share plummeted to 56.8% as several competitors gnawed away at the underpinnings of the industry leader. Korea's Hyundai Motor India slipped into second place with 14.2% of car sales, ...
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